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 Chairman of Portland Private Equity and sponsor of AIC Caribbean Fund; founder and Chairman of the Portland Holdings group, a privately held investment company, which owns a collection of diversified operating companies; and Chairman 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 20 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 20 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
Ricardo Hutchinson has over 12 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.