SCHEDULE 13G/A: Investment Funds Report Zero Beneficial Ownership in Cartesian Growth Corp II

Westchester Capital Management, Virtus Investment Advisers, and The Merger Fund have filed an amended Schedule 13G, indicating they no longer beneficially own any Class A ordinary shares of Cartesian Growth Corp II.

Summary

• Westchester Capital Management, LLC, Virtus Investment Advisers, LLC, and The Merger Fund have jointly filed an Amendment No. 1 to Schedule 13G.
• The filing reports that as of December 31, 2024, each of the reporting persons beneficially owns 0.00 Class A ordinary shares of Cartesian Growth Corp II, representing 0% of the outstanding class.
• The beneficial ownership is based on 12,999,710 shares outstanding as of November 12, 2024, as reported in the Issuer's Quarterly Report on Form 10-Q filed on November 13, 2024.
• Westchester Capital Management, LLC serves as a registered investment adviser and sub-advisor to The Merger Fund, The Merger Fund VL, and the JNL Multi-Manager Alternative Fund.
• Virtus Investment Advisers, LLC serves as a registered investment adviser to The Merger Fund and The Merger Fund VL.
• The reporting persons certify that the securities were acquired and held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 5

Explanation: The document is a factual, routine regulatory filing disclosing a change in beneficial ownership to zero. It contains no information that would inherently be considered positive or negative for the issuer's operations or financial health.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the issuer's future outlook.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This is a routine regulatory filing (Schedule 13G/A) by institutional investors to update their beneficial ownership stake in a public company. The filing indicates that these investment advisors and funds, which previously held shares, have now reduced their stake to zero. For a SPAC like Cartesian Growth Corp II, such a reduction in institutional ownership is a common occurrence, especially as the SPAC approaches or completes a de-SPAC transaction, or if investors redeem shares.

Stakeholder Impact

• Shareholders: Provides transparency on institutional ownership changes, indicating that these specific funds no longer hold shares. This is a standard disclosure for investors tracking institutional holdings.

Key Dates

Keywords

Cartesian Growth Corp II, Schedule 13G/A, Beneficial Ownership, Westchester Capital Management, Virtus Investment Advisers, The Merger Fund, Class A ordinary shares, Investment Adviser, SEC Filing