Eppley Fund Managers takes control of Fortress Caribbean

Friday, May 18, 2018

Print this page Email A Friend!

Eppley Fund Managers Ltd has now assumed all investment management and advisory responsibilities for Fortress Caribbean Property Fund Limited SCC, following the completion of an agreement signed in January 2018.

Following a special shareholders' meeting held in February, the fund is now expected to be renamed the Eppley Caribbean Property Fund Limited SCC.

Eppley's Managing Director Nicholas Scott, who was in Barbados to conclude the transition, said, “We are pleased that the transaction is now final and we look forward to implementing our plans to create value for shareholders.”

He noted that Eppley intends to share its immediate and long-term plans for the fund with shareholders in the near future.

Managing director of Fortress Roger Cave in expressing optimism about the transaction, said the agreement received the full support of the Fund's Board. Cave will serve as a non-executive director on the fund's board.

Ultimately, Fortress reckons that the agreement will allow the company to focus exclusively on growing its core Caribbean and global fund management business.

“We still believe strongly in real estate as an asset class, particularly for long-term investors like pension funds, and we expect to continue as major investors in the fund,” he said.

Altman will continue to support the fund, providing property management, accounting and other administrative services. “

We are happy to know that the shareholders in the fund will be under the guidance of the Eppley team,” said Paul Altman, managing director of Altman. “They have achieved success in a variety of businesses and we would expect a similar level of success to be achieved with the property fund.”

Eppley Ltd is a listed investment company that originates and invests primarily in credit opportunities in Jamaica, the Caribbean and Central America for its own account and on behalf of its investors. Eppley also owns and operates commercial real estate in Jamaica alongside its joint venture partners. Eppley Fund Managers Ltd is a wholly owned subsidiary of Eppley Ltd.

In 2017, Eppley collaborated with NCB Capital Markets to launch the Caribbean Mezzanine Fund, the first mezzanine and credit fund focused on the Caribbean.

Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at




1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed:

6. If readers wish to report offensive comments, suggest a correction or share a story then please email:

7. Lastly, read our Terms and Conditions and Privacy Policy

comments powered by Disqus



Today's Cartoon

Click image to view full size editorial cartoon