Pathstone, which advises families, family offices and nonprofit institutions investment advice, said in a news release that adding Cornerstone and its staff will enhance its efforts in the area of sustainable and impact investing.
“Pathstone is extremely proud of our long history of leadership and innovation in impact and (environmental, social and governance investing),” Pathstone President Matthew Fleissig said in a prepared statement. “We believe that, by empowering clients to amplify the impact of their investments and aligning their goals with their values, clients can enhance returns and foster positive impact.”
Cornerstone founder and CEO Erika Karp will become Pathstone’s chief impact officer, while other staff including Craig Metrick, chief investment officer, and Katherine Pease, chief impact strategist, will also join Pathstone’s team.
“With Erika and her team set to lead and energize these (impact) efforts, Pathstone is set to further establish itself as a real though leader in this critically important area.”
Nesvold Capital Partners advised Pathstone, while Alston & Bird LLP served as its legal counsel. Morrison & Foerster served as Cornerstone’s legal counsel.