TORONTO, Sept. 28, 2017 (GLOBE NEWSWIRE) -- Ninepoint Partners LP, which has assumed portfolio management of the Canadian diversified assets of Sprott Asset Management LP, has announced the launch of the Sprott Canadian Senior Debt Fund, managed by Waygar Capital.
The fund, which compliments Ninepoint Partners’ current private credit offerings, including the Sprott Bridging Income Fund and the Sprott-TEC Private Credit Fund, will be sub-advised by Waygar Capital and managed by accomplished asset-based transaction specialist Wayne Ehgoetz and his team. Both Wayne and his team members have extensive experience providing asset-based credit facilities to diversified industries across Canada and to companies in various stages of their life cycle.
Dedicated exclusively to originating, underwriting and managing high-yielding, senior-secured, first-lien asset-based loans to small and mid-market Canadian enterprises, the new fund may invest in such areas as:
“We’re excited to partner with the team at Waygar Capital,” says Ninepoint Partners LP Managing Partner and Senior Portfolio Manager John Wilson. “We believe there is significant opportunity to provide financing to the heavily underserved Canadian defense and security sector as well as a growing number of Canadian companies experiencing restructuring and turnarounds.”
By way of example, Canada is committed to spending billions over the next few decades on military and security, and with NATO members required to make significant contributions, the fund and its team can take advantage of this requirement to generate potential returns.
“As global security risks continue to rise, this fund is exclusively positioned to benefit from the more than 800 Canadian companies engaged in the defense and security space,” says Ehgoetz. “We are also well positioned to continue in our efforts of assisting more traditional small- and medium-sized companies with their expansion efforts through asset-based lending.”
About Ninepoint Partners
Ninepoint Partners is an independent investment manager committed to adding value to investors’ portfolios while helping to differentiate advisors’ businesses.
Based in Toronto, Ninepoint Partners has assumed portfolio management of the Canadian diversified assets of Sprott Asset Management (SAM), including actively managed hedge and mutual funds, while also offering leading resource and precious metals strategies through an exclusive sub-advisory relationship with SAM. The new firm oversees approximately $3 billion in assets under management.
Please visit www.ninepoint.com to learn more.
About Waygar Capital
Waygar Capital Inc. is a Toronto-based finance company and asset-based lender providing alternative lending solutions to mid-market companies. Established in 2010, Waygar focuses on financing solutions including but not limited to: operating capital for new and existing cash flow requirements, inventory financing needs, sale and lease/rent back structures, refinancing of existing term facilities, new or used equipment purchases, acquisition financing, shareholder buyouts or shotgun requirements, restructuring solutions and more.
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Ninepoint Partners LP is the investment manager to the Sprott Funds (collectively, the “Funds”). The Sprott Canadian Senior Debt Fund is offered on a private placement basis pursuant to an offering memorandum and is only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about the Fund including its investment objective and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the Fund and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstance. This communication does not constitute an offer to sell or solicitation to purchase securities of the Fund. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.
The opinions, estimates and projections (“information”) contained within this report are solely those of Ninepoint Partners LP (“Ninepoint Partners”) and are subject to change without notice. Ninepoint Partners makes every effort to ensure that the information has been derived from sources believed to be reliable and accurate. However, Ninepoint Partners assumes no responsibility for any losses or damages, whether direct or indirect, which arise out of the use of this information. Ninepoint Partners is not under any obligation to update or keep current the information contained herein. The information should not be regarded by recipients as a substitute for the exercise of their own judgment. Please contact your own personal advisor on your particular circumstances. Views expressed regarding a particular company, security, industry or market sector should not be considered an indication of trading intent of any investment funds managed by Ninepoint Partners LP. These views are not to be considered as investment advice nor should they be considered a recommendation to buy or sell.
The Sprott Canadian Senior Debt Fund (the “Fund”) is generally exposed to the following risks. See the offering memorandum of the Fund for a description of these risks: overall risk; not a complete investment program; general investment risk; limited operating history; class risk; changes in investment strategy; limited ability to liquidate investment; capital depletion risk; redemptions; fluctuations in net asset value and valuation of the Master Fund’s investments; unitholders not entitled to participate in management; reliance on the Manager; dependence of the Manager on key personnel; reliance on the loan consultant; dependence of loan consultant on key personnel; taxation of the Fund; no ownership interest in the Portfolio; distributions; potential indemnification obligations; liability of unitholders; lack of independent experts representing unitholders; no involvement of unaffiliated selling agent; not a public mutual fund; charges to the Fund.