Sprott to co-manage US$750 million South Korean private equity fund

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[{"type":"text","content":"\n\n\nTORONTO, Dec. 20, 2013 /CNW/ - Sprott Inc. (TSX: SII) (\"Sprott\") today\n announced that Sprott Consulting LP (\"Sprott Consulting\"), Sprott's\n private equity business unit, has been awarded the mandate to co-manage\n a 10-year US$375 million private equity fund (the \"Fund\") by South\n Korea's National Pension Service (\"NPS\") with a matching US$375 million\n co-investment commitment to be provided by the state-owned Korean\n Electrical Power Company (\"KEPCO\"), the largest electric utility in\n Korea. Sprott Consulting will serve as co-manager of the Fund along\n with Woori Asset Management (\"Woori\"), the asset manager of Korea's\n largest bank, Woori Financial Group. The mandate of the Fund will be to\n make private equity investments in the global natural resources and\n power sectors.\n\n\n\"We are pleased to have been awarded this mandate from one of the top\n pension funds in the world and look forward to partnering with NPS,\n KEPCO and Woori to make the Fund a success,\" said Peter Grosskopf,\n Chief Executive Officer of Sprott.\n\n\n\"Following our launch of an offshore mining fund with Zijin Mining Group\n Co., Ltd., this mandate marks Sprott's second entry into the growing\n Asian marketplace and solidifies our international reputation for\n expertise in natural resource investing,\" said Mr. Grosskopf. \"We are\n committed to continuing to build our institutional client base as we\n seek undervalued opportunities in the resource sector.\"\n\n\nNPS, along with other Korean-based institutional investors, will invest\n approximately US$375 million in the Fund with additional matching\n co-investment commitments of approximately $375 million to be provided\n by KEPCO. The transaction is subject to registration of the Fund with\n the Korean Financial Supervisory Service.  Closing is anticipated to be\n completed in the first quarter of 2014.\n\n\nAbout Sprott Inc.\nSprott Inc. is a leading independent asset manager dedicated to\n achieving superior returns for its clients over the long term. The\n Company currently operates through five business units: Sprott Asset\n Management LP, Sprott Private Wealth LP, Sprott Consulting LP, Sprott\n Resource Lending Corp. and Sprott U.S. Holdings Inc. Sprott Asset\n Management is the investment manager of the Sprott family of mutual\n funds and hedge funds and dis...

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