Sprott in joint venture with CITIC Private Equity

Sprott Inc. today announced it has entered into a joint venture agreement with CITICPE HONGKONG MGT. CO. LIMITED to set up an offshore global resource fund.

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The fund will focus primarily on investment opportunities in equities and debt instruments of global resource companies and will be co-managed by affiliates of Sprott and CITICPE HK.

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The management team of CITICPE HK was the founder of the first American Dollar dominated fund in mainland China. CITICPE HK is managed by fund management professionals from CITIC Group. CITIC Group is one of China’s largest financial institutions and a Fortune Global 500 company.

The launch of the fund is conditional on Sprott receiving the necessary regulatory approvals in Canada and CITICPE HK receiving the relevant regulatory approvals in the People’s Republic of China.

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