TORONTO, ONTARIO--(Marketwired - Feb. 4, 2015) - Pine Street Asset Management ("Pine Street") is pleased to announce that, through its subsidiary, Artemis US IV LLC, it has acquired A.R. Schmeidler & Co., Inc. ("ARS" or the "firm"), a New York based registered investment advisor from Hudson Valley Bank.
Founded in 1971, ARS is a boutique firm employing a number of long-only investment strategies to provide investment and portfolio management services to high net worth individuals and institutional clients.
As part of the transaction, senior management of ARS have also become equity holders of the firm, and they will continue to run the operations, including all aspects of the investment process, and client services of the firm.
"We are thrilled to partner with the like-minded and seasoned management team at Pine Street," said Arnold Schmeidler, founder of ARS. "As a result of this transaction, ARS will be better able to make long-term investments in the business, such as the acquisition of additional investment talent and capabilities to benefit our clients. We will also have direct access to Pine Street's platform, allowing us to offer enhanced services and capabilities."
"Pine Street is very excited to partner with ARS as its thought leadership and expertise are highly complementary to our existing offerings. With this transaction, we solidify our current presence in the U.S. as well as provide additional investment options to our growing client base," said Trevor Maunder, COO of Pine Street. "We have developed a very strong relationship with the ARS management team, and we look forward to growing our business together."
About Pine Street Asset Management
With offices in Toronto and New York, the registered Canadian and U.S. affiliates of Pine Street collectively manage approximately $2 billion in assets, providing high net worth individuals and families with a wide range of customized wealth management services. Pine Street provides its clients with efficient access to world-class money managers across a wide range of investment strategies, providing its clients with unique investment opportunities to meet their financial objectives.
Pine Street Asset Management is a trademark of Artemis Investment Management Corporation, which does business as Pine Street. Pine Street operates through a network of its affiliates in the United States and Canada. To the extent required by applicable law, the affiliates are registered in the applicable jurisdictions, with the applicable regulators in the applicable categories of registration and they make such filings as are required by such laws and regulators.
Contact Information:
Trevor Maunder
647 477-4884