American Beacon Advisors has acquired a minority stake in ARK Investment Management, a New York-based federally registered investment adviser.
ARK offers registered and unregistered investment products, including a suite of exchange-traded funds (ETFs) focused on disruptive innovation.
American Beacon said that the deal will not impact ARK’s investment process or its other business initiatives. Financial terms of the deal were not disclosed.
American Beacon chairman, president and CEO Gene Needles, Jr. said: “The thematic investment process and manager expertise of Catherine Wood and her team at ARK represent the institutional quality and enduring value we strive to bring to our clients.
“We have looked at more than 150 different opportunities in my tenure and ARK was the first to check all the boxes in terms of investment process, manager expertise and cultural fit that we have been looking for in an investment opportunity.”
ARK founder, CEO and chief investment officer Catherine Wood said: “American Beacon’s philosophy of seeking long-term growth and its ‘appetite for innovation’ align perfectly with ARK’s belief that innovation is key to growth. Our strategies seek to invest in companies that are transforming both their industries and the global economy.
"Partnering with American Beacon provides us with the U.S. retail distribution excellence that ARK needs in order to offer investment opportunities in disruptive innovation to a wide range of investors.”