JMMB to deploy $1.5bn 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 a number of areas. 

“We would have launched Vertex SME Holdings, our private equity investment company, which is managed by JMMB Securities Limited. So JMMB is also the anchor investor in Vertex, and we had raised $1.5bn. Of that amount, we have deployed just about a half of that,” he said, noting 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.  

“The second one is one that will probably be announced fairly shortly, and it’s an investment in a major car rental company. As at right now, we have a very, very strong pipeline that consists of 20 plus deals. We will be deploying that $1.5bn in short order,” said Mr. Tomlinson.

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At the same time, JMMB said its new building in Liguanea is almost complete.

“We’re very proud of our building on the corner of Hope and Liguanea Avenue. It’s north of 90% complete. It will host a mix of JMMB offices. We’re finalising the details. We will also host a digital branch, the first of our kind, a flagship branch,” said Tracey-Ann Creary, who is corporate development manager in charge of Real Estate at JMMB.

She also said the company is expanding its real estate business. 

“In terms of the business line, our focus will be mostly on commercial and warehousing projects. We will establish the business line using our existing land bank. Currently, we have three commercial office spaces in the design phase, and you’ll hear more about that. We will roll out about 100,000 square foot of office space over the next two to three years.”

Source: Radio Jamaica News

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