White Pine Investment Management

We nurture wealth with patience & conviction

Founded in May 2021
SEBI registered Portfolio Manager (Registration No. INP000007331)
75+ years of combined experience

PMS

Overview

About White Pine Investment Management

White Pine Investment Management was founded in May 2021 by Niraj Mansingka and Manish Karwa with a vision to build a sustainable institution defined by investing excellence. The firm's aspiration is to create long-term wealth for its partners. It aims to be a respected asset management firm with an entrepreneurial culture and a disciplined, process-driven approach to investing, where deep research, analytical rigour, and patience guide every decision.

Investment philosophy

The firm's name is inspired by the Pinus Strobus, a tree that towers at 70 metres, grows steadily at one metre per year, and lives for over 400 years. The characteristics of the Pinus Strobus resonate deeply with the firm's beliefs and the outcomes it aspires to deliver for its investors. The firm aspires to remain in the first quartile of performance compared to its peers. It seeks to be consistent in its outcomes, compounding wealth methodically over time. It is building for the long haul as a multi-generational institution. It may see difficult years, but its process is designed to ensure it recovers and rebuilds stronger. Its calibrated, analytical approach is predominantly fundamental research, driven by deep conviction and rigorous process.

PMS strategies1

Sorted by 3-year return. Returns are TWRR, net of fees; CAGR above 1 year.

Strategy

AUM (₹ Cr)

White Pine India Emerging Stars

Team6

Niraj Mansingka

Co-Founder & Principal Officer

B.Tech (Chemical Engineering, IIT-BHU), MBA (ISB Hyderabad), CFA Charterholder

Seasoned investor since 1997; former Executive Director at Goldman Sachs Asset Management (GSAM) and Associate Director at Nuvama. Deep institutional research experience across midcaps and energy. Background spans manufacturing and technology.

Manish Karwa

Co-Founder

MBA (Finance), Mumbai University

Institutional equity research experience since 2002 covering financials across Kotak, Deutsche, Axis, and Motilal Oswal; highly rated by institutional investors. Deep passion for equities.

Chirag Shah

Director – Investments

Chartered Accountant (CA), Company Secretary (CS)

Investing experience since 2005 with deep institutional research expertise in the automobile sector; highly rated by institutional investors. Former Executive Director, Nuvama Institutional Equities.

Keshav Karwa

Compliance Officer

MMS in Finance from the University of Mumbai

Financial services professional since 2020, with prior experience at Nomura and Fidelity.

Swapnil Gupta

Analyst

M.Com (Financial Management), University of Mumbai; Chartered Accountant (CA)

Professional experience since 2020, with investing experience since 2023. Prior roles include finance at Aditya Birla Group and audit at Moore Stephens Singhi & Co.

Sahil Karia

Analyst

Bachelor of Financial Markets, University of Mumbai; CFA Level II cleared

Investment experience since 2022, including prior experience as a Valuations Associate at SS&C GlobeOp.

Investments in securities markets are subject to market risks. Read all the related documents carefully before investing. Past performance is not indicative of future returns.

White Pine Investment Management

Overview

About White Pine Investment Management

Investment philosophy

PMS strategies1

Team6

Live

Funds

Community

Company