Fri | Jan 19, 2018

Eppley and NCB Capital Markets form the Caribbean’s first mezzanine fund

Published:Friday | January 6, 2017 | 12:00 AM
Steven Gooden
Nicholas Scott

Eppley Limited and National Commercial Bank Capital Markets Limited have announced that they have formed the Caribbean Mezzanine Fund, the first mezzanine fund focused on the region. The fund is a joint venture between Eppley and NCB Capital Markets, who will also both act as the fund's co-managers.

The Caribbean Mezzanine Fund's investment objective is to generate attractive risk-adjusted returns by originating and investing primarily in mezzanine securities and other forms of commercial credit.

In doing so, the investment activities of the fund will improve access to capital for businesses in Jamaica and the Caribbean region.

A wide cross section of institutional investors have already provided more than US$15 million of preliminary commitments to invest in the fund. Eppley and NCB Capital Markets expect to close the fund before the end of the year.


Compelling alternative


"We are pleased to expand our business by building up on our core investment philosophy. The Caribbean Mezzanine Fund provides investors with a compelling alternative to traditional fixed-income investments and provides companies with a decisive, flexible source of risk capital to grow their businesses," said Nicholas Scott, Eppley's managing director.

Eppley Limited is a listed investment company that originates and invests in credit opportunities in Jamaica, the Caribbean and Central America.

"Constantly, we seek to find creative solutions for our customers, and with NCB Capital Markets' regional footprint, we are pleased to be able to partner and innovate to derive value for those we serve," said Steven Gooden, NCB Capital Market's CEO.

"We are committed to embracing business agility and to provide customers with tailored financial solutions which allow them to take advantage of the opportunities within our portfolio," Gooden added.