Nikko Asset Management has acquired a minority stake in US-based firm ARK Investment Management.
Nikko Asset Management (Nikko AM) has obtained the exclusive rights to offer ARK products and investment strategies in the Asia-Pacific region after Nikko AM acquired a minority stake in US-based investment manager ARK.
ARK is an American investment manager that utilises an “open research ecosystem” to inform its strategies of investing in companies that make use of disruptive technology.
According to the statement, the acquisition was a “natural progression” of the relationship between ARK and Nikko AM where ARK served as a sub-adviser to the Nikko Asset Management Global Equity Fund, which launched in December 2016.
Nikko AM president and chief executive Takumi Shibata said the Global Equity Fund was an example of their successful working relationship and that the new partnership would deepen this connection.
“We are extremely excited to welcome ARK to the Nikko AM family. The established expertise of our in-house investment team combined with ARK’s strategies focused on disruptive technology and innovation enable progressive solutions for our clients,” Mr Shibata said.
ARK chief executive and chief investment officer Catherine Wood said “an entirely new market” would benefit from the partial ownership.
“Nikko AM’s appetite for innovation focused investment solutions is well aligned with ARK’s conviction that innovation is key to growth,” Ms Wood said.
ARK co-founder Ms Wood owns a majority stake in the company, while ARK’s US-based strategic partner Resolute Investment Managers, Inc. will continue to be a minority shareholder.
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