CNL and Sprott Launch Fund to Invest in Gold-Related Assets
CNL Financial Group, an alternative investment management firm, has partnered with an affiliate of Sprott Inc. to form CNL Sprott Strategic Asset Fund.
CNL Financial Group, an alternative investment management firm, has partnered with an affiliate of Sprott Inc. (NYSE: SII, TSX: SII) to form CNL Sprott Strategic Asset Fund, an alternative investment fund that seeks to invest primarily in gold-related assets.
CNL Sprott Strategic Asset Fund seeks to raise up to $250 million in capital, with five-unit classes in a Regulation D private placement offering for accredited investors.
The fund is managed by CNL Strategic Asset Management and sub-managed by Sprott Resource Lending Partnership. Senior executives include president and chief executive officer Andrew Hyltin, chief financial officer Tammy Tipton, and chief operating officer Scott Hall.
“We have been exploring the idea of an investment offering focused on real assets and precious metals, waiting for the right time and the right partner,” said James Seneff, founder and executive chairman of CNL. “Given the current market conditions, we felt the timing was right to launch CNL Sprott Strategic Asset Fund…”
The fund has already acquired a number of debt, streaming, and equity assets in portfolio companies, including:
- Ascot Resources (TSX: AOT), a mineral development company focused on restarting the Premier gold mine in British Columbia
- Elemental Royalties (TSX: ELE), a Canadian company that owns nine royalties with exposure to mines in Australia, Africa and the Americas
- Trident Royalties PLC (LON: TRR), a mining royalty and streaming company based in the United Kingdom
- Geopacific Resources Ltd. (ASX: GPR), a junior gold developer based in Australia focused on the development and construction of the Woodlark project located in Papua New Guinea
- EMX Royalty Corp. (NYSE: EMX, TSX: EMX), a precious, base and battery metals royalty company
CNL Financial Group is a private investment management firm providing real estate and alternative investments. Since inception in 1973, CNL and/or its affiliates have formed or acquired companies with more than $34 billion in assets.
Sprott Inc., which focuses on precious metal investments, has more than $18.6 billion in assets under management as of June 30, 2021. Sprott’s common shares are listed on the New York Stock Exchange under the symbol (NYSE: SII) and on the Toronto Stock Exchange under the symbol (TSX: SII).
