I am currently working on Rare Earth Metal and it size is controlled by concentration and amount of oleic acid in the prepartion of nanoparticle. Another factor is Temperature range and it duration.
You can use surfactants to control the size as well the stability of the nanoparticles but as said by K V Arun it depends on which matrix you are going to use.
You can control both matrix and reinforcement powder particles in two stages but always pay more attention to the nanoparticles as they tend more to agglomerate. These stages include:
1- your as-received powders - initial powder particles should be produced at your desired size and shape. particle fabrication methods such as gas atomizing should be well controlled in terms of the process parameters as well as the working environment. Apart from the size of the particles, having sphere particles is preferred as they can form less porous structures.
2- Before the compaction and consolidation stages, to avoid agglomeration, you can use stearic acid and ultrasonic vibration to break the possible agglomerated particles.
For further details, you can have a look at this paper:
Article Warm dynamic compaction of Al6061/SiC nanocomposite powders