Sprott Consulting, Sprott’s private equity business unit, has been awarded the mandate to co-manage a 10-year US$375-million ($400-million) private equity fund by South Korea’s National Pension Service (NPS) with a matching US$375-million co-investment commitment to be provided by the state-owned Korean Electrical Power Company (KEPCO).
Sprott Consulting will serve as co-manager of the fund along with Woori Asset Management, the asset manager of Korea’s largest bank, Woori Financial Group.
We are pleased to have been awarded this mandate from one of the top pension funds in the world and look forward to partnering with NPS, KEPCO and Woori to make the fund a success,” says Sprott CEO Peter Grosskopf.
The mandate of the fund will be to make private equity investments in the global natural resources and power sectors.
Closing is anticipated to be completed in the first quarter of 2014.
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