Release date: 23 May 2013
Promoter – Financial Intermediary
The Fund is to be managed by PORTLAND PRIVATE EQUITY INC.Location
Description
Participation in a new private equity fund managed by Portland Private Equity, Inc., a firm headquartered in Canada with offices in the Caribbean basin (Barbados, Jamaica). The Fund aims to make equity and quasi-equity investments in Caribbean-based SMEs and mid-sized enterprises.
Objectives
In line with the promising track record of the Fund manager’s previous fund, the Fund’s main geographic focus will be on the Caribbean islands (especially in Dominican Republic, Jamaica, Trinidad & Tobago and Barbados). The manager aims to deploy expansion capital typically between USD 10m and 40m in businesses offering significant growth potential within a 4 to 7 year horizon. A demanding value-add strategy will be applied in terms of sharing and imposing best practice on the Fund’s investee companies in areas such as corporate governance, social and environmental due diligence, green technology, business and project modelling and financing.
Comments
n/a
Sector(s)
- Services - Financial and insurance activities
Proposed EIB finance (Approximate amount)
EUR 23 million
Total cost (Approximate amount)
EUR 235 million
Environmental aspects
The Fund’s operational guidelines provide for environmental and social due diligence of investee companies according to guidelines acceptable to the Bank.
Procurement
Not applicable.
Status
Signed - 15/07/2014
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).