Flatiron, which has nearly $260m in assets under management (AUM), has not disclosed the terms and conditions of the deal.
Sprott chief executive officer Peter Grosskopf said the firm was pleased to further enhance its investment capabilities with the addition of one of Canada’s leading convertible bond arbitrage teams.
"The acquisition of Flatiron provides us with new investment capabilities and allows us to introduce specialty income strategies designed to deliver consistent returns to investors, while also providing them with important downside protection," Grosskopf added.
Sprott rolled out the Sprott Flatiron Yield Trust, an investment vehicle designed to generate positive monthly returns by focusing primarily on Canadian convertible arbitrage.
Sprott currently operates through four business units, which includes Sprott Asset Management, Sprott Private Wealth, Sprott Consulting, and Sprott US Holdings.
