TORONTO, April 20 /CNW/ - Sprott Inc. (TSX: SII) today announced that its subsidiary, Sprott Asset Management LP ("Sprott Asset Management"), which manages the Sprott family of mutual funds, hedge funds and discretionary accounts, has appointed Third Eye Capital Management Inc. (together with its affiliates, "Third Eye Capital") as exclusive sub-advisor to the Sprott Private Credit Fund (the "Fund"). The Fund's principal investment objective is to achieve superior risk-adjusted returns with minimal volatility and low correlation to most traditional asset classes by investing in private asset-based loans of Canadian companies.
"We are very pleased to partner with a firm as distinguished as Third Eye Capital," said James Fox, President of Sprott Asset Management. "We are excited to be able to offer Third Eye Capital's proven investment strategy to our domestic clients."
Third Eye Capital is a leading independent investor in privately-negotiated secured loans. Founded in 2005 by industry veterans Arif Bhalwani and David Alexander, Third Eye Capital applies a highly structured investment approach supported by rigorous, fundamental credit and collateral analysis that has resulted in consistent attractive returns with no investment losses and no reliance on leverage. Third Eye Capital was responsible for the private asset-based lending investment account of a major Canadian pension fund, which generated net returns of 13% per annum from 2005 to 2008, with no investment losses. Third Eye Capital is also the advisor of an offshore private credit fund that has generated net annualized returns in excess of 14% since its inception two years ago.
"Being able to expand our assets under management through a partnership with one of Canada's most successful money managers is a privilege. Sprott has always been the choice firm for investors seeking proven performance and a strong, distinct investment culture," said Arif Bhalwani, President & CEO of Third Eye Capital Management Inc. "We intend on continuing that heritage with the Sprott Private Credit Fund."
"Arif and his team have delivered stellar risk-adjusted returns and bring an ideal complement to our existing fund line-up. For our investors who are seeking enhanced income but have a lower tolerance for equity market volatility and risk, we now offer a best-in-class solution," added Peter Loach, Sprott Asset Management's Executive Vice President of Product Development.
About Sprott Inc.
Sprott Inc. is a leading independent asset manager dedicated to achieving superior returns for its clients over the long term. The company currently operates through three business units: Sprott Asset Management LP, Sprott Private Wealth LP and Sprott Consulting LP. Sprott Asset Management is the investment manager of the Sprott family of mutual funds and hedge funds and discretionary managed accounts; Sprott Private Wealth provides wealth management services to high net worth individuals; and Sprott Consulting provides management, administrative and consulting services to other companies, including SRC (TSX: SCP). Sprott Inc. is headquartered in Toronto, Canada, and is listed on the Toronto Stock Exchange under the symbol "SII". For more information on Sprott Inc., please visit www.sprottinc.com.
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