ARK expands into Europe with new ETF acquisition
September 20, 2023 - Ark Invest has acquired London-based exchange traded fund company Rize ETF, which manages more than $450 million via European funds. The transaction was completed through a private deal for an undisclosed amount. ARK plans to launch several of its actively managed strategies in the European markets by the end of the year. The transaction will not have an immediate impact on ARK's portfolio management of funds nor the current management of the Rize ETFs, according to ARK's announcement this week. The Rize ETF brand will be phased out as it transitions to "ARK Invest Europe."