Associated Capital Group Inc
Business Description
We are a newly formed Delaware corporation organized to be the parent operating
company for the Spin-off of GAMCO Investors, Inc.s ("GAMCOs") alternative
investment management business, institutional research services operations and
certain cash and other assets.
On November 30, 2015, GAMCO distributed all the outstanding shares of each
class of common stock of AC Group on a pro rata one-for-one basis to the holders
of each class of GAMCOs common stock. Prior to the distribution, GAMCO contributed
the 93.9% interest it held in Gabelli Securities, Inc. ("GSI") and
certain cash and other assets to AC Group. GSI is an investment adviser registered
with the Securities and Exchange Commission under the Investment Advisers Act
of 1940, as amended.
GSI and its wholly owned subsidiary, Gabelli & Partners, LLC ("Gabelli
& Partners"), collectively serve as general partners, co-general partners
or investment managers to investment funds including limited partnerships and
offshore companies (collectively, "Investment Partnerships"), and
separate accounts. We primarily manage assets in equity event-driven value strategies,
across a range of risk and event arbitrage portfolios. The business earns fees
from its advisory assets, and income (loss) from trading and investment portfolio
activities. The advisory fees include management and incentive fees. Management
fees are largely based on a percentage of the portfolios levels of assets under
management. Incentive fees are based on the percentage of profits derived from
the investment performance delivered to clients invested assets.
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