Friday, 24 October 2014
Last updated 3 hours ago
Jun 6 2012 | 10:13am ET
Sprott Inc. has agreed to acquire convertible arbitrage hedge fund Flatiron Capital Management Partners.
The two Canadian firms have signed a letter of intent. Sprott will buy Flatiron for cash and stock, but a total price was not disclosed.
"The really compelling opportunity is to develop a defensive product in convertible arbitrage that fits with our view of the world," Sprott CEO Peter Grosskopf said. Sprott founder Eric Sprott has loudly proclaimed that he and the firm believe the global financial picture will darken further before it brightens.
As for Flatiron, which has C$275 million in assets under management, a tie-up with Sprott will give its strategies access to the larger firm's client base and network of retail salesmen. Sprott hopes to have a Flatiron strategy available to its investors within just weeks.
Steve Duenkler and Parm Kalirai founded Flatiron in 2000. The duo have managed a 9.54% annualized return since then.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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