This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

U.S. Global Announces Agreement To Make Strategic Investment In Galileo Global Equity Advisors Inc.

U.S. Global Investors, Inc. ( Nasdaq: GROW), a boutique registered investment adviser specializing in natural resources and emerging markets, announced today that the company has entered into an agreement whereby U.S. Global will purchase 50 percent of the issued and outstanding shares of Toronto-based Galileo Global Equity Advisors Inc. (Galileo).

Currently, all of the outstanding shares of Galileo are owned by Michael Waring. Upon completion of the transaction, Mr. Waring and U.S. Global will each own 50% of the outstanding shares of Galileo. Mr. Waring will continue to serve as the President, Chief Executive Officer and Chief Investment Officer of Galileo and will continue to have overall responsibility for the investment management activities of Galileo, including its management of the Galileo Mutual Funds.

“In this unique environment for investment firms worldwide, I’m excited about the strategic partnership between Galileo and U.S. Global as it strengthens Galileo’s balance sheet and provides for the sharing of intellectual capital to broaden our research capabilities,” said Michael Waring.

CEO and Chief Investment Officer of U.S. Global Frank Holmes said, “Galileo is a strategic partnership for U.S. Global. Our models for marketing and investment management will reinforce Galileo’s proven track record in fund management.”

The transaction is subject to the approval of securities regulatory authorities and to the satisfaction of other closing conditions. It is anticipated that the transaction will close on or before March 31, 2013.

About Galileo Global Equity Advisors Inc.

Founded in 2000 by Michael Waring, Galileo delivers investment advisory and portfolio management services to institutional clients including pension funds, high net worth individuals, corporations and trusts. It also manages the Galileo Mutual Funds ( www.galileofunds.ca), which are represented across Canada by independent financial advisors. As of December 31, 2012, Galileo managed approximately $337 million.

About U.S. Global Investors, Inc.

U.S. Global Investors, Inc. ( www.usfunds.com) is a registered investment adviser that focuses on profitable niche markets around the world. Headquartered in San Antonio, Texas, the company provides advisory, transfer agency and other services to U.S. Global Investors Funds and other clients.

With an average of $1.66 billion in assets under management in the quarter ended September 30, 2012, U.S. Global Investors manages domestic and offshore funds offering a variety of investment options, from emerging markets to money markets.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7870 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs