Takeover Battle Emerges for Cathie Wood's Ark in Stellar Year

Wood is "disappointed" that Resolute and its private equity owner, Kelso & Company, have issued this "unwelcome notice that they intend to seize control of our business," she said in a statement. "We do not believe that equity ownership by a party tangential to our business is in the best interest of ARK's stakeholders."

Three days before the filing from Resolute on Oct. 29, Ark released a statement that it would explore the potential replacement of Resolute Investment Distributors Inc. — an affiliate of Resolute Investment Managers —  to distribute its products.

Resolute didn't immediately respond to a request for comment from Bloomberg News.

Wood's funds have skyrocketed in popularity amid bets on big tech companies such as Tesla Inc. She currently runs three of the 10 best-performing ETFs so far in 2020.

Her flagship fund ARKK has attracted almost $5.8 billion this year and is currently up more than 98% in the span. It also just crossed $11 billion in assets after its 37th week of inflows as the S&P 500 closed at a record on Friday.

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