Pathstone, an Englewood, New Jersey-based registered investment advisory firm and family office managing $10.3 billion, has acquired Cornerstone Capital Group, a New York City-based RIA managing $1.1 billion that specializes in sustainable and impact investing.
Cornerstone’s expertise in portfolio construction incorporating sustainable investing principles will enhance Pathstone’s existing efforts in that area, the company said in a release.
Cornerstone's CEO, Erika Karp, will join Pathstone as its chief impact officer. Craig Metrick, Cornerstone's chief investment officer, Katherine Pease, its chief impact strategist, and other Cornerstone staff will also join Pathstone.
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"The profitability of the CLO is going to be very attractive," said CIO at Flat Rock Global.
"Synth Equity has been such a tailwind for these advisors who really understand the story," Measured Risk Portfolios’ head of distribution said.
