Spouting Rock to buy New York investment manager Stewart


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Spouting Rock Asset Management has agreed to acquire New York-based investment management firm Stewart Asset Management for an undisclosed amount.

The transaction is expected to close by the end of this month.

The current Stewart investment team, including chairman Bill Stewart, will move to Spouting Rock as part of the transaction.

Bill Stewart says:

“As we enter this new phase, we will retain the Stewart Asset Management brand name and the investment team, with Tom Valenzuela as Chief Investment Officer, who also served at WP Stewart.”

Stewart intends to realize long-term capital appreciation through a concentrated portfolio of US growth stocks.

In addition to offering separately managed accounts in the United States and Canada, the company offers UCITS funds to investors outside the United States.

Founded in 2014 after AllianceBernstein acquired WP Stewart & Co, the company aims to double its clients’ capital on average every five years.

Mark Bruckman, CEO of Spouting Rock, said: This team will serve as a strong complement to his manager’s platform of rapidly growing boutiques. “

Spouting Rock, a US-based multi-boutique manager, offers traditional, alternative and thematic investment solutions.

In May of this year, Alquity, a UK responsible investment management company, formed a strategic alliance with Spouting Rock, which invested in Alquity.

In early 2022, Spouting Rock agreed to acquire a majority stake in alternative asset manager Old Hill Partners.

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