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Wes Edens Partners with Sagicor, Investing in Resourceful Assets

Recently, Wes Edens and his team at NFE partnered with Sagicor to invest in the reputable nationwide asset, the CHP Plant. The transaction is ensuring that Sagicor focuses on positively impacting through their operation. Their agreement showed that NFE was confident in the financial sector in Jamaica and even in the country. Together with his officials, Wes Edens collaborated with Sagicor because of the potential of the assets guarantee.

Christopher Zacca, President and Chief Executive Officer of SJ, stated their intentions of investing within the asset. He and Wes Edens added that they would ensure they offered others within the international and local investment communities an opportunity. When asked how their arrangement would be structured, the SJ CEO explained they had to undertake regulatory approval. Exiting its Playa Hotels and Resorts investment recently, SJ collected more than $96 million from the sale.

Jamziv Mobay Jamaica Portfolio Limited, significantly controlled through majority ownership by Sagicor Real Estate X-Fund, had held the Playa Hotels shares. SJ currently controls about 29 percent within X-Fund, actively consolidating the finances of the established subsidiary. Zacca stated that Sagicor was arranging to invest in a financial-oriented asset, but the deal structure and process were not disclosed. He, however, stated that after receiving regulatory approvals, they would announce the assets market.

Corporate transactions might become complex at times. With the complexity of the infrastructure transaction that Sagicor wanted to complete, it would typically require the founding of a trusted holding venture. The formed holding firm would be liable to hold the transacted fixed asset.

Zacca stated that they were ready to collaborate with purpose-driven firms when asked about any future opportunities to invest within alternative assets. They were especially interested in partnering to venture and diversify within the investment realm.

A Brief History

SIJL currently manages funds for several funds, including Sagicor Select Funds Limited. It also co-fund manages Cygnus Deneb Investments Limited. They participated in launching SEAF (Small Enterprise Assistance Fund) Caribbean SME Growth Fund in 2019.

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