Sprott Completes Second Closing of Private Resource Lending LP
TORONTO, April 06, 2017 (GLOBE NEWSWIRE) -- Sprott Inc. (“Sprott” or the “Company”) (TSX:SII) today announced that its Sprott Resource Lending Corp. business unit has completed the second closing of its Sprott Private Resource Lending LP, raising approximately US$560 million.
“Strong global demand from institutional investors has enabled us to raise a fund that exceeds our initial target of US$400 million,” said Jim Grosdanis, Managing Partner of Sprott Resource Lending Corp. “We have a strong pipeline of opportunities and we are now fully engaged in putting the capital to work for our Limited Partners.”
Moelis & Company LLC and OCP Capital, LLC acted as placement agents with respect to the Private Resource Lending LP.
Sprott is a global alternative asset manager with three primary lines of business: Private Resources Investments; Exchange Listed Products; and Alternative Investment Management. The Private Resource business platform houses the Company's private resource-focused asset management activities; the Exchange Listed Products business platform houses the Company's closed-end physical trusts and exchange traded funds; and the Alternative Asset Management business platform houses the Company's full suite of public mutual funds, alternative investment strategies and managed accounts. Sprott Asset Management LP is the principal subsidiary of Sprott Inc. and the manager of both the Exchange Listed Products business line and the Alternative Investment Management business line. For more information, please visit www.sprottinc.com.
Head of Investor Relations