On January 18, 2013, U.S. Global Investors (NASDAQ: GROW) announced that it had agreed to purchase 50% of the equity in Toronto, Canada-based Galileo Equity Advisors.
On January 18, 2013, U.S. Global Investors, Inc. (NASDAQ: GROW) announced that it has entered into an agreement to purchase 50% of the issued and outstanding shares of Galileo Equity Advisors Inc. from Michael Waring, Galileo’s President, Chief Executive Officer, and Chief Investment Officer. U.S. Global is a San Antonio, Texas-based boutique registered investment advisor with approximately $1.66 billion in assets under management. Based in Toronto, Canada, Galileo provides investment advisory and portfolio management services to institutional clients and manages the Galileo Mutual Funds. Galileo has approximately $337 million in assets under management. The transaction, which is expected to close by March 31, 2013, is subject to regulatory approvals and other closing conditions.
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