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Cathie Wood Buys Back Option That Had Threatened Control of Ark

Dec. 28, 2020, 3:39 PM

The fight for control of Ark Investment Management is over after Chief Executive Officer Cathie Wood purchased the option that threatened her control.

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.

Cathie Wood
Photographer: Alex Flynn/Bloomberg

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 moved to exercise its option, ...

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