JMMB to Deploy $1.5 Billion in Private Equity Investments

• JMMB says it is set to deploy more than a billion dollars in private equity investments.  Kareem Tomlinson, General Manager of JMMB Securities, said the entity is looking to tap into several areas. 
• The company would have launched its private equity investment company, Vertex SME Holding which is managed by JMMB Securities Limited where JMMB is also the anchor investor in Vertex. The company had raised $1.5 billion and of that amount, has deployed just about half of that. Mr. Tomlinson noted that the company has invested in two completed deals, including a quick-service restaurant operator in Guyana that is looking to expand into the wider Caribbean.
• He further highlighted that the second deal will be announced shortly, and is an investment in a major car rental company. Currently, the company has a strong pipeline that consists of 20-plus deals and will be deploying the remainder of that $1.5 billion in short order.
• Tracey-Ann Creary, who is the corporate development manager in charge of Real Estate at JMMB said that the company is also expanding its real estate business. As it relates to this business line, the focus will be mostly on commercial and warehousing projects. They plan to also establish the business line using its existing bank. Currently, there are three commercial office spaces in the design phase that the public will hear about shortly. Additionally, about 100,000 square feet of office space will be rolled out over the next two to three years.
• This forms part of the company’s strategic objective to capitalize on the opportunities in the real estate market to expand its income stream and bring value to its shareholders. The company intends to plan, design, develop, and construct properties and later bring them to market for sale, lease, or sale-leaseback as it doubles down on real estate in response to the market demands and trends. 

(Source: RJR)