Jamaica Gleaner Online TODAY'S ISSUE
May 7, 2000

Caribbean Investment Fund formed

CARIBBEAN EQUITY Partners Limited (CEP) and Caribbean Basin Investors Limited (CBIL) have recently formed the Caribbean Investment Fund to make investments in the 14 member countries of the Caribbean Community (CARICOM).

As the "first mover" in the Caribbean private equity, the Fund has raised US$50 million to be invested in influential equity stakes in select business opportunities in the Caribbean region. By employing the best practices of emerging markets private equity firms, the Fund seeks to become a premier investment vehicle through which international capital can participate in the region's investment opportunities.

Caribbean Equity Partners will manage the Fund on behalf of CBIL and the Fund's investors.

Citibank N.A. Jamaica Branch and Citibank (Trinidad and Tobago) Limited have agreed to work with the Fund to provide debt financing to companies that the Fund invests in, up to an aggregate amount of US$30 million. The arrangement will be structured to complement equity investments made by the Fund that meet the credit criteria jointly established with Citibank.

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