NEW YORK, Dec. 18, 2019 /CNW/ - Galaxy Digital
Holdings Ltd. (TSXV: GLXY) announced that its affiliate,
Galaxy Digital Capital Management LP ("GDCM"), reported preliminary
assets under management of $360.7
million as of November 30,
2019.
In November 2019, GDCM launched the Galaxy Bitcoin
Fund and the Galaxy Institutional Bitcoin Fund (collectively, the
"Bitcoin Funds"). Both funds are passively managed vehicles that
are designed to mitigate the operational complexities of managing
direct bitcoin investments. The increase in AUM primarily related
to inflows to the Bitcoin Funds.
|
Assets Under
Management ("AUM")(a) (In
millions)
|
|
11/30/19
(b)
|
10/31/19
(b)
|
9/30/19
|
8/31/19
|
7/31/19
|
6/30/19
|
5/31/19
|
4/30/19
|
3/31/19
|
2/28/19
|
1/31/19
|
12/31/18
|
11/30/18
|
|
Total
|
$360.7
|
$337.0
|
$336.0
|
$336.8
|
$389.6
|
$393.9
|
$421.6
|
$416.3
|
$417.9
|
$417.6
|
$416.5
|
$423.0
|
$422.8
|
|
|
|
(a)
|
Figures through
12/31/2018 are audited; all other figures are unaudited. AUM
is inclusive of committed capital in a closed-end vehicle
and seed investments by affiliates. Changes in AUM are generally
the result of performance, contributions (to new and existing
funds), withdrawals and, through July 2019, capital commitments
funded from one vehicle to another. As previously disclosed, in
August 2019, GDCM ceased operations of its third-party cash
management strategy.
|
|
(b)
|
Preliminary
|
Additional information regarding GDCM funds can be found on our
website at www.galaxydigital.io.
About Galaxy Digital Capital Management LP
Galaxy Digital Capital Management LP, an SEC-registered
investment adviser, is a diversified asset management firm
dedicated to the digital assets and blockchain technology
industry. The firm manages capital on behalf of external
clients in three distinct business lines: Index Fund Management,
Blockchain Ecosystem Funds, and Opportunistic Funds. Galaxy
Digital Capital Management's multi-disciplinary team has deep
experience across active and passive portfolio management, capital
markets, operations, and blockchain technology. The firm is a
subsidiary of Galaxy Digital Holdings, which was founded by
Michael Novogratz, a former
Principal and Chief Investment Officer of the Fortress Macro Funds,
and a former Partner at Goldman Sachs.
Disclaimers
GDCM is an affiliate of Galaxy Digital Holdings Ltd., a
company listed on the TSX Venture Exchange. Neither
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this press
release.
This press release is not an offer to sell or the
solicitation of an offer to sell or buy any security in any
jurisdiction where such an offer or solicitation would be illegal,
nor shall there be any sale of any security in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of that
jurisdiction.
The private placement shares of the Galaxy Bitcoin Funds and
the Galaxy Crypto Index Fund (the "Funds") have not been registered
under the Securities Act of 1933, as amended (the "Securities Act")
or any state securities laws, and the shares are being offered
pursuant to an exemption from registration provided by Rule 506(c)
of Regulation D under the Securities Act and in reliance on similar
exemptions under applicable state laws. An investment in the shares
of the Funds is suitable only for sophisticated,
well‐informed investors, and investors will be
required to represent that they are accredited investors as such
term is defined in Rule 501(a) of Regulation D under the Securities
Act.
Securities transactions are effected through Galaxy Digital
Advisors LLC, a member of FINRA and SIPC.
All figures are in U.S. Dollars unless otherwise noted.
SOURCE Galaxy Digital Holdings Ltd