pcJ News Briefs – Following the acquisition of the Canadian diversified assets from Sprott Asset Management LP, SPR & Co. LP has appointed each of Bridging Finance and SPR & Co. LP as co-managers to provide portfolio management, administrative and other services to Sprott Bridging Income Fund LP and Sprott Bridging Income RSP Fund.
Bridging Finance Inc. previously served as sub-advisor to the funds.
On August 1, 2017, Sprott Inc. (TSX: SII) completed the sale of its Canadian diversified asset management contracts to SPR & Co. LP, an entity controlled by John Wilson and James Fox, for $46.3 million.
Sprott will be focusing on precious metal and real asset investments and merchant banking.
News Release
Bridging Finance Inc. Appointed Co-Manager
Bridging Finance Inc. (“Bridging Finance“) is pleased to announce changes to the management of the Sprott Bridging Income Fund LP and the Sprott Bridging Income RSP Fund (the “Funds“). Following SPR & Co. LP’s successful purchase of the Canadian diversified assets from Sprott Asset Management LP (the “Transaction“), the general partner of the Funds has appointed each of Bridging Finance and SPR & Co. LP as co-managers to provide portfolio management, administrative and other services to the Funds.
“We are pleased to support the Transaction and become the co-manager of the Funds. It is important for the enterprise valuation of Bridging Finance and we look forward to working with the Managing Partners of SPR & Co. LP, John Wilson and James Fox, along with the rest of their team. It will be business as usual in managing the portfolio in an effort to provide consistent, non-correlated yield to investors”, said David Sharpe, Chief Executive Officer.
About Bridging Finance Inc.
Bridging Finance is a privately held Canadian company providing middle-market North American companies with alternatives to the financing options offered by traditional lenders. Lending proceeds, typically ranging from $3,000,000 to upwards of $50,000,000, are used by companies to address short-term needs such as restructuring existing debt, providing working capital for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts. Bridging Finance is the co-manager to the Sprott Bridging Income Fund LP and the Sprott Bridging RSP Fund.
For further information: David Sharpe, LLB, LLM, MBA, Chief Executive Officer, Bridging Finance Inc., T: (416) 362-6252 | C: (647) 981-5658, dsharpe@bridgingfinance.ca