Thursday 9 April, 2020

Eppley, NCB Capital Markets fully invest in Caribbean Mezzanine Fund

Steven  Gooden, CEO of NCB Capital Markets  (left) and Eppley’s Managing Director Nicholas A. Scott.

Steven Gooden, CEO of NCB Capital Markets (left) and Eppley’s Managing Director Nicholas A. Scott.

Eppley Limited and NCB Capital Markets Limited have announced that they have invested 100 per cent of Caribbean Mezzanine Fund I Limited’s (CMF or the Fund) committed capital.

CMF is co-managed by Eppley and NCBCM and was formed in 2016 as the Caribbean’s first credit and mezzanine private equity fund.

CMF’s investors include the leading institutional investors in Jamaica including pension funds, insurance companies and development banks.

CMF has now deployed US$15.95 million across eight portfolio companies.

Its investments span the capital structure of its portfolio companies including debt, mezzanine credit and ordinary equity.

The fund’s investments are also diversified by industry including tourism, water, energy and business process outsourcing.

Since its inception, CMF has delivered annual cash dividends of eight per cent in US dollars and is expected to produce 14 per cent to 16 per cent net compound annual returns in US dollars to its investors over the life of the fund.

In marking the occasion of fully deploying CMF’s committed capital, Eppley’s Managing Director Nicholas A. Scott remarked, “Eppley is proud to have pioneered mezzanine and credit investing in Jamaica and the Caribbean. At CMF we’ve carefully built a high-quality portfolio that provides our investors with diversification, downside protection, consistent high-income yields and the potential for further upside through capital appreciation.”

Steven Gooden, CEO of NCB Capital Markets added “NCB Capital Markets offers its clients the ability to invest in a wide range of assets including alternative investments in Jamaica and across the region. We’re pleased to have partnered with Eppley to develop CMF and look forward to working together in the future to build on this successful platform.”

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