Toronto-based Arrow Capital Management Inc. said Tuesday that its wholly owned subsidiary, BluMont Capital Corp., has come to an agreement to sell the management agreements for three funds to Toronto-based Sprott Asset Management LP, pending unit holder and regulatory approval.
Terms of the sale were not disclosed.
The three funds, all sub-advised by Capital Innovations LLC, are Exemplar Global Infrastructure Fund, Exemplar Timber Fund and Exemplar Global Agriculture Fund.
The funds will continue to be sub-advised by Capital Innovations during and after the transition period, Arrow says.
Arrow acquired BluMont in December 2013, adding the Exemplar range of prospectus-based solutions to its platform, expanding its range of products and catering to a wider client base. (See Investment Executive, IAM completes sale of BluMont to Arrow Capital, December 3, 2013.)