U.S. Global to Make Strategic Investment in Galileo

January 23, 2013

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‚Äôs 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.

To read the press release, please click here.


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Investment Manager M&A, Investment Manager Strategic Investments, Mutual Fund M&A, Mutual Fund Strategic Investments, Transactions