The fight for control of Ark Investment Management is over after Chief Executive Officer
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.
Wood repurchased the option for an undisclosed sum. The transaction was financed through a “multi-tranche term loan financing facility provided by Eldridge Corporate Funding LLC,” according to the statement.
Last month, Resolute