U.S. Global Investors, a boutique registered investment adviser, has completed the acquisition of an additional 15% stake in Toronto-based Galileo Global Equity Advisors.
The purchase of the additional stake will bring U.S. Global Investors’ ownership in Galileo Global Equity Advisors to 65%.
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However, Michael Waring – president, CEO and CIO of Galileo, will continue to manage the business. He will hold 35% of the outstanding shares of Galileo.
Michael Waring – president, CEO and CIO of Galileo will hold 35% of the outstanding shares of Galileo and also continue to manage the business.
In addition, Waring will also be responsible for the investment management activities of the company, including management of the Galileo mutual funds.
Frank Holmes, CEO and CIO of U.S. Global Investors, said: "This relationship empowers Galileo’s management team to build the business with our additional investment capital and money management and marketing support. Additionally, we benefit from the sharing of intellectual capital and Galileo’s proven track record in fund management."
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