Portland Private Equity II, Ltd. (“PPE”) a regular business company incorporated under the laws of Barbados, is the Investment Advisor to AIC Caribbean Fund and PCF II, and provides management services to PJX. The PPE team has extensive experience successfully investing in businesses in multiple geographies and across a variety of sectors.
The Team – Depth and Alignment
As a limited partner in PCF II KY, the Company gains access to the management capability of PPE. PPE has been retained pursuant to an Investment and Advisory Agreement dated July 15, 2014 to manage PCF II Fund. The advisory services include monitoring investments in PCF II Fund, research, selection and on-going monitoring of co-investment opportunities; research, selection and monitoring investments for uncommitted assets; and on-going research for other investment opportunities. PPE also provides management services to the Company.
PPE is led by Hon. Michael Lee-Chin, O.J. PPE’s Investment Committee is comprised of Mr. Lee Chin and three Managing Partners. Collectively, these individuals have over 100 years of investing experience and on average have been together for over 10 years. Each of the executives also has an ownership stake in the management companies, as well as the portfolio businesses of PCF II Fund. Finding, nurturing and ultimately, exiting from successful industry leading business require a strong alignment of company management, investors and investment managers. PPE principals have committed USD$17 million to an affiliated entity of PCF II KY investing alongside its partners.
The Investment Team
Michael Lee-Chin is the Chair of Portland Private Equity and sponsor of AIC Caribbean Fund; founder and Chair of the Portland Holdings group, a privately held investment company, which owns a collection of diversified operating companies; and Chair of the NCB Financial Group Limited.
Robert Almeida is a Managing Partner of Portland Private Equity and helped launch AIC Caribbean Fund. He is an accomplished businessperson with a strong background in corporate strategy and operations. He was formerly an executive at Loblaw Companies, Canada’s largest retailer, and led the creation of a direct bank at Canadian Imperial Bank of Commerce. He has served on the boards of Columbus International Inc. (cable and telecommunications), Kingston Wharves Limited (port operator), and Advantage General Insurance (general insurance). Almeida currently serves on the boards of NCB Financial Group Limited, Clarien Bank Limited, and several subsidiaries of Portland Holdings Inc.
Douglas Hewson has over 25 years of private equity and venture capital experience. He is a Managing Partner of Portland Private Equity; prior to joining AIC Caribbean Fund, he was responsible for co-founding and leading two successful investment management firms. At PPE, he has primary responsibility for investor relations, is a board member of InterEnergy Holdings, IEH Penonome, Grupo IGA, Productive Business Solutions, Merqueo, and an observer to the board of Clarien Bank. He is a member of PCF II Fund’s Investment Committee, and involved in all aspects of AIC Caribbean Fund and PCF II Fund’s management.
Joe Vescio has 30 years of experience in negotiating, structuring, and closing a wide variety of transaction types. He is a Managing Partner of Portland Private Equity, in addition to his investment origination and portfolio company responsibilities; he looks after the financial operations of AIC Caribbean Fund and PCF II Fund. Vescio founded a successful valuation practice earlier in his career and is a Chartered Accountant and Chartered Business Valuator by training
Toni is part of the PPE investment team and works closely with Clarien Bank and other portfolio companies. She has amassed over 15 years of experience in credit risk, investment, and commercial banking. Prior to joining Portland Private Equity, Toni was head of Corporate Underwriting and Portfolio Management at National Commercial Bank Jamaica Limited. Toni holds both a B.Sc. (Hons) and M.Sc. in Economics from the University of the West Indies.
Ricardo Hutchinson has over 13 years of experience in the Caribbean financial sector. He is currently Vice President — Investment at Portland Private Equity. Prior to joining Portland Private Equity, he worked with some of the Caribbean’s leading financial institutions where he successfully closed several capital market transactions. He currently serves on the boards of Productive Business Solutions, Diverze Assets, Chukka Caribbean Adventures and Tropical Battery. He holds a Master’s degree in Economics from the University of The West Indies and is a CFA Charterholder.
Pedro has over 15 years of Investment Banking experience, having advised clients on more than 40 M&A, Capital Markets, and Debt transactions with an aggregate value in excess of $40 billion. Prior to joining Portland, Pedro led the UBS and Citibank investment banking divisions in Colombia and CAC. Pedro also worked for over 8 years as part of the IB teams at Bank of America Merrill Lynch and Stephens Inc. in New York. He currently serves on the board of Merqueo and as an observer on IGA. Pedro holds an MBA, Magna Cum Laude, from Babson College.
Hülya has been an international sustainability expert for over 13 years. At PPE, she is responsible for the evaluation, guidance, and monitoring of investee companies’ environmental and social performance. Hülya is also responsible for PPE’s development impact approach and assessment. She also consults for the World Bank/IFC evaluating the E&S performance of financial institutions. Prior to joining PPE, Hülya was a senior consultant for PricewaterhouseCoopers in Germany. She advised companies in improving their sustainability performance and evaluated international development cooperation projects. She is fluent in English, Spanish, German, French, and Turkish.