St. Pete investment giant acquires European ETF

ARK Invest LLC acquired Rize ETF Limited, a European "thematic" exchange-traded fund, the company says Tuesday in a news release.

ARK Invest is the parent of St. Petersburg-based ARK Investment Management LLC, the investment manager led by CEO and well-kniown Wall Street tech stock guru Cathie Wood. ARK is a federally registered investment adviser and privately held investment firm.

The transaction "marks a significant milestone in ARK Invest's global expansion strategy and will pave the way for the firm to introduce its suite of cutting-edge innovation ETFs … to investors across Europe, the United Kingdom, and beyond, while also facilitating the sustained growth and expansion of Rize ETF's thematic products."