MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, March 4, 2020 Two Fund Firm Deals Closed This Week A pair of U.S. mutual fund firms finished up deals this week, one selling itself and the other selling back a purchase.
Most of the Chiron team will stay on with FS. That includes co-founder and CIO Ryan Caldwell and co-founder and CEO Enrico Gaglioti (who will become co-president of FS alongside FS CIO Mike Kelly). Chiron offers three MFs and is an active, multi-asset boutique that uses both quantitative and fundamental investing techniques. The firm, launched in 2015, had about $1.8 billion in AUM (when the deal was unveiled in December) and about 30 employees (as of last May). Also yesterday, the U.S. Global Investors team confirmed that on Monday the San Antonio-based, publicly traded firm finalized their C$1-million ($750,000) sale of their 65-percent stake in Toronto-based Galileo Global Equity Advisors. Galileo bought back and canceled U.S. Global Investors' Galileo shares, boosting founder Michael Waring from a 35 percent stake back to a 100 percent stake in Galileo. (Waring is also the president, CEO, chief compliance officer, and secretary.) The deal was unveiled by U.S. Global Investors CEO Frank Holmes. Holmes and Lisa Callicotte, U.S. Global Investors' chief financial officer, previously served on Galileo's board. U.S. Global Investors bought a 50-percent stake in Galileo in 2013, then increased their stake in 2014. Printed from: MFWire.com/story.asp?s=60969 Copyright 2020, InvestmentWires, Inc. All Rights Reserved |
