US Global Investors, a registered investment advisor specializing in natural resources and emerging markets, has officially bought 50 per cent of the issued and outstanding shares of Toronto-based Galileo Global Equity Advisors.

Galileo’s president, chief executive and chief investment officer, Michael Waring, and US Global now each own 50 per cent of Galileo's outstanding shares.

Waring continues to have overall responsibility for the investment management activities of Galileo, including management of the Galileo Mutual Funds.

When the deal was announced in January, Waring said that the partnership with US Global will strengthen Galileo’s balance sheet while also expanding his firm’s research capabilities.

Galileo Global Equity Advisors provides investment advisory and portfolio management services to pension funds, high net worth individuals, corporations and trusts.

Nasdqa-listed US Global Investors is headquartered in San Antonio, TX, with some $1.68 billion in assets under management as at end-December 2012.