AUGUST  2024

PRESS RELEASE

FOR IMMEDIATE RELEASE

 

SYGNUS CAPITAL BOOSTS HIGHER EDUCATION IN PUERTO RICO WITH $6 MILLION INVESTMENT IN ANA G. MÉNDEZ UNIVERSITY

 (San Juan, Puerto Rico) –

Sygnus Capital PR LLC – a company under the Sygnus Group – a leading alternative investment firm in the Caribbean and Latin America, has made a significant impact in Puerto Rico’s education sector by injecting $6 million into the Ana G. Méndez University (AGMU). This investment will launch high-demand accredited programmes, such as dental medicine, veterinary medicine, and physical therapy, marking a milestone in the island’s educational landscape.

“We are proud to support institutions that are making a real difference in the community. By easing access to financing, we are helping to eliminate barriers and create opportunities for Puerto Rico’s young talents to prosper right here in their homeland. For years, Puerto Rico has faced a challenging exodus of young talents due to the lack of specialised programmes and adequate infrastructure on the island. This has led countless students to migrate and enrol in programmes abroad to complete their studies. However, the expansion of the academic offering can help to change this narrative,” shared James Connor, CEO of Sygnus Capital PR LLC.

Sygnus Capital PR LLC, previously known as Acrecent Financial, has reinforced its commitment with Puerto Rico’s socioeconomic development by reducing barriers to capital access. This legacy of Acrecent, which stood out by contributing to the financial boost of the island, has evolved and expanded as Sygnus. The Sygnus Group is known for its expertise in Private Credit, Private Equity, Real Estate Financing, and Impact Investing.

The Ana G. Méndez University is a private university system with its main campus in San Juan, Puerto Rico. An accredited, not-for-profit institution of higher education, AGMU also operates campuses in the state of Florida and offers a wide variety of academic programmes in Spanish, English and in both languages through various modalities using emerging and innovative technologies. The University promotes innovation, entrepreneurship, research, as well as appreciation and respect for diversity. AGMU is also expanding its offer in technical careers and other formative programmes that respond to the changing needs of the job market and provide access to new opportunities for professional development.

Sygnus’s alliance with Ana G. Méndez University will allow the educational institution to boost historically neglected fields with its new accredited programmes. The odontology programme will accommodate 45 students in 2024-2025, increasing to 90 in 2025-2026; the new veterinary medicine programme, the only one in Puerto Rico, will receive 80 students in its first year, growing to 158 students for the next academic year; and the physical therapy programme will have at least 40 students per year.

These fields have significant growth potential, with approximately hundreds of students that migrate each year to study these careers. Sygnus Capital PR LLC’s CEO explained that by offering these programmes locally, Ana G. Méndez University will allow many young talents to be molded as professionals in their fields and apply their knowledge through services and jobs on the island.

The financing has enabled the university to acquire state-of-the-art equipment, ensuring students receive a modern, practical education. This includes outfitting dental clinics, veterinary labs, and physical therapy facilities with the latest technology, creating an optimal learning environment. This partnership not only addresses the immediate educational needs but also lays the foundation for long-term economic growth in Puerto Rico. By investing in education, Sygnus Capital is helping to cultivate a skilled workforce, ultimately contributing to the island’s prosperity.

“This joint support is evidence of the commitment of both entities to Puerto Rico’s socioeconomic development. At the same time, it established a model for future collaborations in the education sector. Sygnus Capital and Ana G. Méndez University are paving the way for a more prosperous and equitable future for the island, showing that investment in education can have a lasting impact in local communities,” said Connor.

 

 

 

###

 

 

About Sygnus

Sygnus is a leading alternative investment management company in the Caribbean and Latin America, spanning private credit, real estate, private equity and impact investing. Sygnus manages Sygnus Credit Investments Limited (SCI) which is listed on the JSE and the largest Private Credit Investment company in the English-Speaking Caribbean. SCI is a pioneering private credit investment company, which offers creative debt financing to middle market businesses across the Caribbean. Sygnus Real Estate Finance Limited (SRF) provides flexible capital (Debt or Equity) to all classes of real estate assets (commercial, industrial, or residential). Sygnus Deneb Investments Limited (SDI) invests private equity capital in companies in the form of growth capital, buyouts, and turnarounds. The Sygnus Group also includes Sygnus Capital PR LLC (formerly Acrecent Financial Corporation) in Puerto Rico, a non-bank financial institution that provides asset-backed loans and leases to SMEs in Puerto Rico. Sygnus also offers its clients Investment Banking and Wealth Advisory.

ACRECENT FINANCIAL CORPORATION, DRIVING THE PUERTO RICAN ECONOMY OVER 20 YEARS.

(San Juan, Puerto Rico)

Acrecent Financial Corporation, a leader in financing solutions for small and medium-sized businesses in Puerto Rico, is pleased to announce its 20th anniversary, a moment to celebrate its contribution to the growth and strengthening of the local economy.

Founded in 2003 by James Connor and Raúl Cacho, Acrecent has provided financing for small and medium-sized businesses, establishing itself as a true catalyst for business growth on the island.

Over these 20 years, Acrecent has demonstrated an unwavering commitment to the success of SMEs in Puerto Rico, recognizing them as a key ingredient for economic development.

This celebration would not have been possible without the trust of all the companies and industries that have sought financial solutions, both for standard transactions and special situations, beyond the traditional banking system, and have found a reliable ally in Acrecent. The evolution and success of those seeking financing became the main driving force and motivation to provide tailored tools and special assistance for each project.

20 years of opportunities
Acrecent has achieved several noteworthy milestones in its effort to secure credit for Puerto Rican businesses. Among its history, it stands out for its involvement in the reconstruction and reopening of a historic hotel that was devastated by Hurricane Maria. This project also supported the employment of local residents and promoted tourism.
Additionally, it played a significant role in rescuing a major medical supplies distributor from imminent bankruptcy.

To expand its capacity to support small and medium-sized businesses in Puerto Rico, Acrecent has partnered with local and foreign investors from the United States, Switzerland, London, among others.

In recent months, Acrecent celebrated its alliance with four international impact investment firms, resulting in support of $34.8 million, to continue its mission of providing critical loans and financing for hundreds of SMEs in underserved sectors of Puerto Rico. These sectors are fundamental for the social and economic development of the island, such as healthcare, manufacturing, construction of affordable and dignified housing, hospitals equipped to meet current needs, and renewable energy projects.

Acrecent’s success has led to the development of three Impact Credit Funds in Puerto Rico since 2018: LIFT, LIFT II, and AFP (Acrecent Finance Partners LLC). These funds have had a tangible impact on the local economy, with LIFT providing 154 financings to 80 small and medium-sized enterprises, and LIFT II focusing on SMEs with credit disadvantages.

In total, these three funds, with over $69 million raised in capital, have provided financial support of $93.1 million distributed in 343 loans to 119 of their clients, impacting essential industries for the economic development of the island.

The recent acquisition of Acrecent by Sygnus, a leading alternative investment firm in the Caribbean and Latin America, marks the beginning of an exciting new chapter for the company. With this union, Sygnus reaffirms its commitment to accelerate economic growth in the region through innovative and creative financial solutions.

As Acrecent celebrates its 20th anniversary, it also prepares for the future by opening up possibilities for more international investors to join the challenge of bridging the credit gap for businesses.

 

###

 

About Acrecent

Acrecent Financial Corporation, founded in 2003 and headquartered in Guaynabo, Puerto Rico, is a company of the Sygnus Group and is a non-bank financial institution that provides loans and support for Puerto Rico’s SMEs. The company is recognized as a regional leader for its management model, expertise, and knowledge, reflected in its products and services with a significant impact on supporting sectors such as healthcare, commercial real estate, and hospitality.

About Sygnus

The Sygnus Group is a leading alternative investment firm with a presence in the Caribbean and Latin America, committed to driving economic growth in the region by offering creative and innovative financial solutions. These alternative forms of investment, such as Private Credit, Real Estate Financing, and Venture Capital, were created as a way to meet the need for innovative investment opportunities that unlock capital for company growth, playing a critical role in economic development.

News is My Business