A limited liability company
Current income, capital preservation and long-term appreciation
Financial Suitability Standards
Accredited investors only
Manager: CNL Strategic Asset Management, LLC
Sub-manager: Sprott Resource Lending Partnership
CNL Securities Corp.
Declared and paid monthly
Net Asset Value (NAV)3
Class A $24.51
Class T $24.53
Class D $24.53
Class I $24.51
Class S $24.53
Primarily in resource-rich countries with well-established investment and mining laws such as North America, Europe, and Australia
Limited Unit Repurchase Program4
10% annual liquidity, 2.5% quarterly. These limits are at the Fund level based on the aggregate NAV per year.
Manager and Sub-manager Investments5
$10 million from affiliates of CNL Financial Group and Sprott, Inc.
Asset Management Fees
1.5% of average gross assets, which excludes cash, calculated monthly
17.5% above 5% preferred return on income; 17.5% on cumulative realized capital gains with lookback adjustment (high-water mark)
Offering and Organizational Cost6
Up to 1.5%
50% of net assets; target leverage of 0-20% of net assets
Schedule K-1 (best efforts to provide no later than mid-March)
This investment is not suitable for all accredited investors and is considered to be speculative. There is no assurance the stated objectives will be met.
1 The Fund is the first time CNL and Sprott have partnered. CNL Strategic Asset Management, LLC is acting as the manager. The sub-manager is Sprott Resource Lending Partnership, an Ontario partnership, a relying adviser of Resource Capital Investment Corporation. Each managing entity is an investment adviser registered with the U.S. Securities and Exchange Commission.
2 Distributions are not guaranteed in frequency or amount. Distributions may be funded from multiple sources including offering proceeds, borrowings, net investment income from operations, expense waivers, capital gains proceeds from the sale of assets, non-capital gains proceeds from the sale of assets, dividends or other distributions paid to the Fund. Distributions that are not derived from net income produced by the Fund's performance may not be sustainable and may dilute investors.
3 Effective as of Aug. 31, 2022. NAV is an estimate of the fair value of the Fund’s assets. Its determination involves subjective assumptions. NAV may differ from the actual return a unitholder may receive.
4 The Fund has adopted a unit repurchase program; however, it is not obligated to repurchase units. Subscribers should be aware of the limited liquidity and restrictions of the program and understand that the program is suitable only for investors that have no need for liquidity in their investment. The program may be suspended, modified or terminated at any time.
5 Persons and entities affiliated with or employed by the manager and the sub-manager and/or their respective affiliates have made a combined capital contribution of $10 million.
6 The organization and offering costs of the Fund will be limited to 1.5% of the gross offering proceeds. These costs will be reimbursed from proceeds of future offerings.
7 This Fund is perpetual. This means an investment vehicle of infinite duration. The manager is under no obligation to pursue or complete any liquidity event.