Pine Street Asset Management has completed its buy of AR Schmeidler & Co.

Pine Street Asset Management has acquired the New York-based registered investment advisor AR Schmeidler & Co, through its subsidiary Artemis US IV.

Deal works, as reported late last year by Family Wealth Report, will see ARS' senior management become equity holders of the firm.

ARS offers high net worth individuals and institutional clients a range of long-only investment strategies.

"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,” said Arnold Schmeidler, founder of ARS.

Pine Street's registered Canadian and US affiliates collectively manage around $2 billion in assets, for high net worth individuals and families.