BRYN MAWR, Pa.–(BUSINESS WIRE)–Spouting Rock Asset Management, LLC (“Spouting Rock”), a multi-boutique manager platform providing investment solutions and services, today announced an agreement to acquire Stewart Asset Management, LLC (“Stewart”), a New York-based investment manager that aims to provide long-term capital appreciation for clients through concentrated portfolios of quality US listed growth equities. The deal is expected to close on or about December 31, 2022.
Founded by Chairman Bill Stewart in 2014 following the acquisition of W.P. Stewart & Co. by AllianceBernstein, a group of analysts was assembled to pursue the proven investment philosophy he developed during his 38-year history at W.P. Stewart & Co. Building on this long history of success, Stewart has generated competitive performance since 2014. Following the acquisition, the existing Stewart investment team will join Spouting Rock and Bill Stewart will remain part of the investment team.
Stewart is one of the original architects of concentrated growth strategy investing. Stewart offers separately managed accounts in the U.S. and Canada, and the Concentrated U.S. Equity Growth Fund (a UCITS fund) to investors outside the U.S. The investment team carefully selects 15 – 20 companies from a universe of large, high-quality, steadily growing businesses with sound management, recurring earnings growth and robust financials. Its goal is to double clients’ capital on average every five years.
“For more than six years, the Stewart Asset Management investment team, led by Chief Investment Officer Tom Valenzuela, has provided long-term consistent results for investors and we are pleased to welcome them to the team,” said Marc Brookman, Chief Executive Officer of Spouting Rock. “We are impressed with the firm’s strong conviction in the power of compounding and its research-driven investment process. The team will serve as a strong complement to our rapidly-growing platform of boutique managers.”
Spouting Rock has grown its platform substantially in the past few years, most recently forming a joint venture with Alquity Investment Management. The firm appointed industry veteran Marc Brookman as CEO in May 2022 to further catalyze Spouting Rock’s strategic expansion efforts.
“We’re pleased to join Spouting Rock as we look to expand our distribution among investors, institutions and financial advisors,” said Bill Stewart, Chairman of Stewart Asset Management. We will retain the Stewart Asset Management brand name as we enter this new phase and the investment team will remain intact with Tom Valenzuela as chief investment officer, a role he also held at W.P. Stewart. Marc and his team will be invaluable partners as we look to ensure the long-term success of the firm and our clients.”
For more information on Spouting Rock, visit: https://spoutingrock.us/
About Spouting Rock Asset Management, LLC
Founded in 2018, Spouting Rock Asset Management (Spouting Rock) is a multi-boutique manager platform providing alternative, traditional and thematic investment solutions and services aimed to enhance portfolios and protect wealth. Located outside of Philadelphia, Pennsylvania, Spouting Rock provides sophisticated investors, financial professionals and institutions the ability to invest in niche strategies in less efficient markets where active management has the potential to add meaningful alpha. Spouting Rock offers a robust, cost-efficient platform that provides boutique managers with the distribution and operational benefits of a scaled asset management business.
About Stewart Asset Management
Stewart Asset Management, a New York-based investment manager, provides its clients access to a U.S. equity growth strategy through separately managed accounts and a UCITS fund in Europe. Stewart aims to deliver long-term capital appreciation through a concentrated portfolio of U.S. equities. The investment team carefully selects between 15 and 20 companies from a universe of large, steadily growing businesses with sound management, high-quality recurring earnings, and robust financials.
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MarketingSR@spoutingrock.us
