Dennis Mitchell and Scott Colbourne have left Sprott Inc. last week following the completion of the sale of the firm's mutual fund business, Sprott Assett Management LP (SAM), to executives John Wilson and James Fox.
The departures of Mitchell, senior portfolio manager and senior vice president, and Colbourne, co-chief investment officer, follow the completion of the first phase of the acquisition of SAM's Canadian diversified assets by SPR & Co LP, the company formed after the buyout.
In April, Toronto-based alternative asset manager Sprott Inc. announced that Wilson, SAM's CEO, and Fox, its president, bought SAM, which had $3 billion in assets under management at the time, for $46 million.
Mitchell joined SAM in September 2015 after leaving Toronto-based Sentry Investments Inc., at which he was chief investment officer.
"We thank Scott and Dennis for their contributions and wish them all the best in their future endeavours," said Wilson in a statement.
SPR & Co. also announced that Jeff Sayer has become principally responsible for the management of Sprott Global Infrastructure Fund, Sprott Global Real Estate Fund, Sprott Focused Global Dividend Class, Sprott Focused U.S. Dividend Class, Sprott Focused Global Balanced Class and Sprott Focused U.S. Balanced Class.
In addition, Mark Wisniewski and Chris Cockeram have become principally responsible for the management of Sprott Diversified Bond Fund, Sprott Diversified Bond Class, Sprott Short-Term Bond Fund and Sprott Short-Term Bond Class.
"We are proud of the depth and experience of our investment team, which remains focused on providing alpha generating, long-term performance for our unitholders," Wilson added. "We are pleased to have Mark, Jeff and Chris assume these new responsibilities."
Photo copyright: niloo138/123RF