The acquisition will bring ARK ETF, known for its focus on technology, to Europe via its new ARK Invest Europe division. Rize products will continue to be distributed under the ARK brand.

Signature ARK Investmentinvestment company founded by Cathie Wood which in recent years has established itself as one of the world’s most influential asset managers, has a presence in Europe. This is done through acquisitions Rize ETFwhich in the coming months will become ARK Invest Europe, the European division of ARK.

The acquisition will bring ARK ETF, known for its focus on innovative new technologies, to Europe. Rize products will be distributed under the ARK brand.

Rize ETF founders Stuart Forbes, Rahul Bhushan, Jason Kennard and Anthony Martin will continue to lead the new company.

ARK focuses on Europe

By combining Rize ETF’s expertise in thematic and sustainable indices with ARK’s active management approach based on disruptive innovation, the combined entity aims to offer its clients more diversified investment options. Additionally, this acquisition paves the way for ARK to introduce a suite of innovative and cutting-edge ETFs in UCITS format to European investors. At the same time, this will facilitate the continued growth and expansion of Rize ETFs thematic and sustainable ETFs in Europe and around the world.

As of August 31, 2023, Rize ETF managed $452 billion across 11 UCITS ETFs domiciled in Dublin and distributed across Europe, while ARK managed approximately $25 billion of ETFs and other products globally.

ARK acquired Rize ETF from AssetCo, a UK-based asset and wealth management company primarily engaged in the acquisition, management and operation of asset management businesses, as well as other related services. As part of the agreement, ARK and AssetCo will collaborate to support the launch of several ETF products for the River and Mercantile businesses, AssetCo’s active equity management subsidiaries, on the new ARK Invest Europe platform.