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American Beacon Advisors Bolsters ETF Offerings With New Natural Resources Fund
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American Beacon Advisors Bolsters ETF Offerings With New Natural Resources Fund
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Ark CEO buys back option that threatened control
Bloomberg
Ark Investment Management CEO Cathie Wood
The fight for control of Ark Investment Management is over after CEO Cathie Wood purchased the option that threatened her control.
Ms. Wood entered into an agreement with Resolute Investment Managers that allows her to remain as Ark’s majority shareholder, according to statement Monday. Ark, which has $43.6 billion in assets under management, will retain Resolute’s distribution services for its products.
Ms. Wood repurchased the option for an undisclosed sum. The transaction was financed through a “multitranche term loan financing facility provided by Eldridge Corporate Funding LLC,” according to the statement.