Fund Management

US Alternatives Firm Forms Global Fund With China's CITIC Private Equity

Vanessa Doctor Asia Correspondent 3 June 2013

US Alternatives Firm Forms Global Fund With China's CITIC Private Equity

Sprott, the US-based alternatives house, has entered into a joint venture agreement with CITIC Private Equity, one of China's largest alternatives asset management firms to set up an offshore global resource fund.

"Establishing a global fund with Sprott is a natural extension of our alternative asset management platform," said Frank Wu, chief executive of CITICPE Hong Kong, in a statement.

The fund will mainly focus on investment opportunities in the equities and debt instruments of global resource firms and will be co-managed by affiliates of Sprott and CITICPE HK. The management team of CITICPE HK founded the first US dollar-denominated fund in Mainland China. 

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