When active patience leads to long-term results, with Nadim Rizk (opens in a new tab)
Interview in which the founder describes PineStone's growth to more than $72 billion with nearly 40 staff, and its focus on holding quality companies for decades.
Hedge Fund
Montreal-based, employee-owned global equity manager running concentrated long-only portfolios of quality compounders
PineStone is a Montreal asset manager founded in 2021 by Nadim Rizk when his investment team spun out of a large publicly traded manager; the founding team previously ran Fiera Capital's Global Equity team. It manages concentrated, long-only global, international, U.S. and global small-cap equity strategies, mainly for institutional clients, and also sub-advises funds for firms such as New York Life Investments and SEI. The firm was called StonePine Asset Management until May 2023. Although BSO lists it under domestic hedge funds, it is a long-only manager, so roles are in fundamental equity research, client relations and operations at its single Montreal office.
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Concentrated strategy of roughly 25–35 high-quality companies worldwide with 5–10% expected annual turnover; track record dates to October 2009, before the spin-out.
Non-U.S. version of the quality-compounder approach, 25–35 holdings; inception January 2010.
Concentrated U.S. portfolio of about 20–30 holdings; inception April 2009.
Separate small-cap investment team led by Lead Portfolio Manager Thomas Horvath.
Runs PineStone-branded MainStay funds for New York Life Investments and sub-advises SEI funds, alongside its mainly institutional separate accounts.
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Reasons that work in interviews
3 reasons for PineStone Asset Management
Expect the real question underneath to be “why this strategy”, then “why this platform within it”. Have a view on long/short versus multi-manager versus event-driven before you have a view on the firm, and bring one idea you can defend.
Founded recently and grew extremely quickly on a concentrated global quality strategy, so you would join a firm still being built around a defined philosophy.
Montreal-based with global mandates.
Small team managing large institutional assets: the responsibility ratio is unusual.
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Programs
Summer Analyst · Canada
Canadian funds take students in ones and twos and almost never post it. The way in is a pitch: a name you can argue, sent to somebody who reads it. BSO has not confirmed a timetable for PineStone Asset Management on an official page: this records that the intake exists and what the category's cycle looks like, not a published date. Confirm with the firm before you plan around it.
Typical background
GuidanceOne prior internship: a boutique bank, a small fund, transaction services, or a pension co-op.
Founder, Chief Executive Officer & Chief Investment Officer
Management Committee; Investment Team
Founded PineStone in 2021 and has been lead portfolio manager of its U.S., International and Global equity strategies since their inception. He previously headed the Global Equity team at Fiera Capital, was a partner at a private Montreal investment firm, and started as an equity research analyst at CN Investments. He holds a BCom from the American University of Beirut, an MBA from McGill and the CFA charter.
Partner, General Counsel and Chief Operating Officer
Management Committee
Leads PineStone's operations, finance, compliance and legal teams. She previously spent 14 years with the Pictet Group in Canada, ending as Executive Director and COO, and began her career on the floor of the Montreal Exchange. She holds a law degree from the Université de Montréal and is a member of the Quebec Bar.
Partner, Chief Compliance Officer & Chief Risk Officer
Management Committee
Runs PineStone's compliance framework, oversees adherence to investment guidelines and leads firm-level ESG efforts. He was previously Chief Compliance Officer of another Montreal asset manager, with earlier roles in compliance, risk and internal audit. He studied at the University of Melbourne and holds the CRMA and CAMS certifications.
Partner, Head of Research
Management Committee; Investment Team
Leads development of PineStone's fundamental research process, works with the CIO on portfolio construction and is backup portfolio manager on the firm's strategies. He was Director of Research for Fiera Capital's Global Equity team, one of its original five members, after equity research roles at two private Montreal firms. He holds a BCom from McGill, a Master of Finance from HEC Montreal and the CIM designation.
Partner, Head of Client Relations
Management Committee
Leads relationship management, business development, consultant relations and marketing. Before helping found PineStone he was Head of U.S. Distribution at Fiera Capital, and he has spent his career in institutional asset management. He holds a BSc in Business Administration from Framingham State and an MBA from Northeastern.
Partner, Lead Portfolio Manager, Global Small Cap
Small Cap Investment Team
Lead Portfolio Manager of PineStone's Global Small Cap Strategy. He joined Fiera Capital's Global Equity team in 2009 as one of its original five members and was its Lead Analyst. He holds a BCom from Concordia, an MBA from Queen's, and the CFA and CAIA designations.
Professional information only, drawn from official biographies and published reporting. BSO never lists private contact details.
Interview in which the founder describes PineStone's growth to more than $72 billion with nearly 40 staff, and its focus on holding quality companies for decades.
An SEI Institutional Investments Trust prospectus supplement names PineStone as a sub-adviser and reports US$56.23 billion in assets as of 30 September 2024.
New York Life Investments added PineStone Global, International and U.S. Equity funds to its MainStay range, citing about $46.2 billion in PineStone assets.
The firm rebranded to avoid being confused with U.S. life-sciences hedge fund StonePine Capital; team, process and structure were unchanged.
Nadim Rizk founded the firm in 2021 after his investment team spun out of a large publicly traded asset manager. The site gives only the year; the founder says set-up began in early 2021 and took about a year, so the month shown is approximate.
SEI told investors that StonePine had rebranded as PineStone in May 2023 to end confusion with a U.S. hedge fund, and that its role in SEI funds was unchanged.
No sourced transactions or people moves for this firm. BSO publishes a fact only once it can attribute it to a named source, so these stay off the page rather than being filled in from inference. If you know something published that belongs here, it is the fastest way to get it added.
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U.S. Securities and Exchange Commission (SEI Institutional Investments Trust) · Dec 16, 2024 · sec.gov
Canoe Financial · Nov 7, 2024 · canoefinancial.com
New York Life Investments · Sep 13, 2023 · nylim.com
PineStone Asset Management · Date unavailable · pinestoneam.com
PineStone Asset Management · Date unavailable · pinestoneam.com
PineStone Asset Management · Date unavailable · pinestoneam.com
PineStone Asset Management · Date unavailable · pinestoneam.com
PineStone Asset Management · Date unavailable · pinestoneam.com
National Bank Investments · Mar 11, 2025 · nbinvestments.ca
SEI Asset Management UK · Date unavailable · assetmanagementuk.seic.com
Bay Street Oracle · Oct 8, 2026 · intelligence.baystreetoracle.ca
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