Having attracted tens of billions of dollars from a loyal base of U.S. investors, ARK has now shifted attention on achieving similar success in the European...
Breaking into Europe’s competitive exchange traded funds market has been a long-standing ambition for ARK Invest, the U.S. firm founded by star portfolio manager Cathie Wood in 2014.
“We have been looking at the European market for some time,” Tom Staudt, chief operating officer at ARK Invest told Financial News. ARK’s purchase of Rize was brokered in “a matter of months”, according to Michael O’Riordan, founding partner of consultancy Blackwater Search & Advisory, who introduced the two firms.
“For a lot of U.S. managers with intentions of coming to Europe, the idea of starting from scratch can be intimidating. If they can get access to a team straightaway, that is more appealing.”
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