Cathie Wood takes control of Ark Investment Management

Posted on Jan 5, 2021, 1:54 p.m.

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Cathie Wood has succeeded in preserving the independence of Ark Investment Management. The leader and main shareholder of this star New York-based asset management company has bought the takeover option held since 2016 by Resolute Investment Managers, an American multi-store asset management platform. In November, Resolute went on the offensive to take control of the nugget in its portfolio, three days after Cathie Wood announced its intention to do without the services of its shareholder to distribute its products. Announced on December 28, the peace agreement signed between the two parties finally provides that Resolute remains a minority shareholder in Ark and continues to ensure the marketing of its funds in the United States. Ark’s boss bought the option at an undisclosed price and financed the transaction with a credit facility from a debt fund, Elridge Corporate Funding.

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