Media Release

FOR IMMEDIATE RELEASE

Sygnus Announces Departure of Dr. Ike Johnson

Dr. Ike Johnson, Co-Founder of Sygnus and Executive Vice President and Chief Operating Officer of the Group

Kingston, Jamaica, September 30, 2026 – Sygnus Capital Group Limited (“Sygnus”) announced that Dr. Ike Johnson, Co-Founder of Sygnus and Executive Vice President and Chief Operating Officer of the Group, will transition from his executive role effective December 31, 2026. As part of the transition, Dr. Johnson will also demit office as a director of Sygnus Credit Investments Limited (“SCI”) and Sygnus Real Estate Finance Limited (“SRF”), effective December 31, 2026. Dr. Johnson will continue to be part of the Sygnus journey as a shareholder and Board Member of Sygnus Group and its subsidiaries

Dr. Johnson is a Co-Founder of Sygnus and has contributed significantly to the organization’s development and growth since its inception. His leadership helped shape the Group’s corporate strategy and regional expansion, strengthen its operational foundation, and advance its private equity and real estate platforms, supporting the development of Sygnus into a leading Caribbean alternative investment firm.

The Board of Directors has approved a comprehensive transition plan designed to ensure continuity across all areas of the business. Executive responsibilities currently overseen by Dr. Johnson will be transitioned in accordance with established governance frameworks and succession arrangements, supported by the Group’s experienced leadership team.

Commenting on the transition, Berisford Grey – Co-Founder, President and CEO – Sygnus said, “As a Co- Founder, Ike has been an integral part of the Sygnus story from inception, helping to shape the organization’s growth, ambition and regional impact. We are grateful for his many contributions and the role he has played over the last 10- years in building the leading Caribbean alternative Investment platform. As he embarks on this new chapter, we wish him every success in the journeys ahead. While his executive role is transitioning, Ike will continue to be part of the Sygnus journey.”

Dr. Ike Johnson – Co-Founder, EVP & COO – Sygnus, shared, “My time at Sygnus has been one of the most meaningful chapters of my professional journey. Together with my fellow Co-Founders and the wider Sygnus team, we set out to build a firm that could expand access to innovative financing, support business growth, and create long-term value across the Caribbean. I am incredibly proud of what we have built and deeply grateful for the opportunity to have contributed to Sygnus’ evolution from an idea into a leading alternative investment platform. As I move into this next phase, I look forward to supporting Sygnus in a more limited capacity while pursuing other ventures and opportunities. I remain excited about the future of the organization and confident in the team’s ability to continue building on the strong foundation we have established.”

For further information:
Ategie Edwards
Senior PR Officer, Garrick Communications
Email: ategie@garrickcommunications.com
Tel: (876) 677-6378 | Mobile: (876) 395-7090
Website: www.garrickcommunications.com

The post Sygnus Announces Departure of Dr. Ike Johnson first appeared on Sygnus Group.

The post SYGNUS CREDIT INVESTMENTS DECLARES RECORD DIVIDEND WHILE ANNOUNCING US$4.50 MILLION SHARE BUYBACK PROGRAMME first appeared on Sygnus Group.

Sygnus Capital Bets on Puerto Rico as a Hub for Alternative Financing in the Caribbean

The firm sees growth opportunities on the island in sectors including energy, healthcare, tourism, and even music production

September 12, 2026 – 11:10 p.m.

By: Itzel Rivera | Journalist

Beres Grey – CEO Sygnus Capital and Co-Founder Sygnus Group

A decade after its founding, Sygnus Capital is betting on Puerto Rico’s continued consolidation as one of the Caribbean’s leading markets for alternative financing, while identifying opportunities across sectors ranging from renewable energy, healthcare, housing, and tourism to music production.

For the firm’s executives, Sygnus Capital, which has deployed more than $700 million in alternative investments across Puerto Rico and the Caribbean, the biggest challenge today is not a lack of projects but the limited availability of flexible capital for businesses that cannot always find the financing structures they need through traditional banks.

“There should be another 25 firms like Sygnus Capital on the island so that more businesses have the opportunity to succeed,” said James Connor, chief executive officer (CEO) of Sygnus Capital Puerto Rico, in an interview with Negocios.

Connor actually laid the groundwork for Sygnus about two decades ago when he founded Acrecent Financial, a company that was acquired by Sygnus roughly four years ago.

According to Connor, the non-bank commercial financing market represents less than 0.5% of Puerto Rico’s economy. In the United States, alternative financing represents approximately 7% of gross domestic product (GDP).

“It is an extraordinarily underdeveloped market. There are not enough participants or enough dollars to meet the needs,” he said.

Berisford Grey, co-founder and chief executive officer (CEO) of Sygnus Group, explained that this gap is precisely what has driven the growth of private credit in the Caribbean over the past 10 years.

When the company began operations in Jamaica in 2016, the concept of private credit was virtually unknown to much of the regional market, he said.

Today, he said, institutional investors, fund managers, and midsize companies recognize the instrument as an alternative for financing acquisitions, expansions, equipment purchases, and infrastructure projects.

“The biggest transformation [over this decade] has been the institutionalization of the market,” Grey said, adding that “today there is greater awareness of private credit as an asset class, and we have succeeded in expanding the amount of capital available to businesses.”

As evidence of that evolution, he noted that over 10 years, the group’s aggregate private credit portfolio grew from approximately $16 million to $500 million.

Puerto Rico as a Strategic Market

Grey emphasized that the island occupies a strategic place in the company’s growth plans because it is one of the largest economies in the Caribbean. Puerto Rico is even larger in economic size than 13 other U.S. jurisdictions, the investment banker noted, highlighting the ties between the Puerto Rican and U.S. economies as well as the island’s potential access to Latin American markets.

“Puerto Rico is a natural bridge between North America and the Caribbean,” he said.

That position, he continued, provides access to industries with limited presence in other Caribbean markets, including biopharmaceuticals, medical devices, and parts of the health sciences sector, while also facilitating discussions with U.S. institutional investors.

Connor added that oversight by the U.S. Securities and Exchange Commission (SEC) strengthens Puerto Rico’s credibility among international investors, although he acknowledged that a significant perception challenge remains.

“Puerto Rico often ends up in a kind of limbo. Some investors do not know whether they should view it as part of the United States or as an emerging Caribbean market,” he said.

In his view, one of the biggest opportunities over the next decade will be attracting more institutional capital from the Puerto Rican diaspora to finance productive projects on the island.

“The needs are measured in billions of dollars,” Connor reiterated. “The opportunity is there. We need to continue attracting capital to meet those needs.”

 Growth Sectors

Beyond access to capital, both executives identified specific sectors that offer some of Puerto Rico’s greatest growth opportunities over the next five to 10 years.

Healthcare, Connor emphasized, remains the leading sector in Sygnus Capital Puerto Rico’s portfolio because of the ongoing need for investment in medical equipment, technology, and hospital infrastructure.

“We like to say that we complain a lot about the healthcare system, but very few investors actually direct capital toward the sector,” he said, adding that the firm is working on financing a large-scale healthcare-related project.

He also explained that after announcing $17.1 million in financing for solar projects last May, the firm is now backing the development of a utility-scale solar facility as part of a broader strategy to continue supporting renewable energy projects on the island.

“We are all waiting for some magic solution to appear and solve Puerto Rico’s energy problem, but that is not going to happen overnight,” he said.

 Looking Ahead

Another sector the firm views with optimism is tourism. Connor noted that Puerto Rico still lags significantly behind other Caribbean destinations in areas such as the number of hotel rooms.

He also pointed to the development expected around Roosevelt Roads over the next 15 years.

“I heard that the developer behind that major project near Roosevelt Roads is an internationally recognized developer. Lots have sold for between $4 million and $6 million each. That is benefiting, in part, from the development taking place around Roosevelt Roads. Think about that: residential lots selling [at those prices] without even having a house built on them. Again, real estate, hospitality, housing… there will be a hotel there. It’s fascinating,” he said.

Reshoring and the Creative Industries

Opportunities associated with reshoring, the strategy of encouraging companies to bring operations and supply chains back to the United States and its surrounding regions, are also part of the picture. Although Connor acknowledged that major manufacturers and pharmaceutical companies typically have access to other sources of financing, he said there is an opportunity to support companies that “are part of that supplier chain.”

One economic sector that generates particular enthusiasm among Sygnus executives, yet rarely appears among the priorities of financial intermediaries, is music production.

“Somehow, the island has become a huge exporter of urban music to the world,” Connor said.

Grey agreed that Puerto Rico’s economic development will depend to a significant extent on strengthening its integration with the rest of the Caribbean. One of the main challenges, he said, continues to be the regulatory fragmentation among the region’s various countries.

According to the CEO, the region needs to move toward “greater harmonization of rules related to pension funds, alternative investments, and capital markets” to enable the movement of greater resources and attract more investors.

Although he acknowledged that the region competes with larger markets elsewhere, he stressed that the Caribbean offers political stability and strong regulatory frameworks.

“This is not about telling the Sygnus story […]. What matters is telling the story of those businesses that, at one point, could not secure $1 million, $5 million, or $10 million to develop a hospital, build a solar plant, or grow their business, and that today have that opportunity,” he concluded.

https://www.elnuevodia.com/negocios/banca-finanzas/notas/sygnus-capital-apuesta-a-puerto-rico-como-el-proximo-eje-del-financiamiento-alternativo-en-el-caribe/?utm_source=LinkedIn&utm_medium=Social&templateId=OTB2HAZL1TSY&templateVariantId=OTB2HAZL1TSY&experienceID=EXRSL2YIUINN

The post Sygnus Capital Bets on Puerto Rico as a Hub for Alternative Financing in the Caribbean first appeared on Sygnus Group.

The post Record Earnings and First Acrecent Dividend Mark Milestone Year for SCI first appeared on Sygnus Group.

Sygnus Foundation gives Riverton students back-to-school boost

As Sygnus celebrates its 10th anniversary and a new chapter through the Sygnus Foundation, members of the team joined the principal and students of the Riverton Meadows Early Childhood Centre during a recent back-to-school initiative.

AS part of its 10th anniversary celebrations Sygnus underscored its commitment to creating meaningful impact in communities, through the recently launched Sygnus Foundation, with a back-to-school initiative hosted at the Riverton Meadows Early Childhood Centre.

The initiative, undertaken in partnership with Sygnus Real Estate Finance Limited, provided targeted back-to-school support to 25 students at the centre, including school uniforms, book vouchers and assistance towards school fees.

The support was designed to help students and their families prepare for the new academic year while ensuring that children have some of the essential resources needed to begin the school term ready to learn.

The initiative also represented a continuation of Sygnus’ long-standing partnership with the St Patrick’s Foundation, which operates the Riverton Meadows Early Childhood Centre.

“Our partnership with Sygnus has been a long-standing and meaningful one, and we are grateful that they continue to invest in the children and families we serve.

“This back-to-school initiative goes beyond providing practical assistance; it gives our students the encouragement and confidence to begin the school year on a positive note. We value Sygnus’s continued commitment to the Riverton community and look forward to building on this partnership as we work together to create greater opportunities for our children,” said Hermaine Metcalfe, chairperson of the St Patrick’s Foundation.

The back-to-school support was complemented by a treat for children in the Riverton community. The event provided the children with an opportunity to enjoy a day of fun and fellowship ahead of the new school year.

For the Sygnus Foundation, the initiative reflects its purpose which was recently launched as part of the company’s 10th anniversary celebrations.

Members of the Sygnus team join representatives of St Patrick’s Foundation and Riverton Meadows Early Childhood Centre for the presentation of back-to-school support to students as part of Sygnus’ continued commitment to education and community development. Pictured are (from left) Annadeen Nembhard, head of people, culture and talent management at Sygnus Capital; Elizabeth James, vice-president and head of wealth and client strategy at Sygnus; Junior Rowe, Principal of Riverton Meadows Early Childhood Centre; Hermaine Metcalfe, chairperson for St Patrick’s Foundation; Dwyane Pryce, assistant vice-president, real estate and project finance at Sygnus; and Renee Rickards, senior marketing manager at Sygnus.

https://www.jamaicaobserver.com/2026/09/01/sygnus-foundation-gives-riverton-students-back-school-boost/

The post Sygnus Foundation gives Riverton students back-to-school boost first appeared on Sygnus Group.

The post SYGNUS FOUNDATION CONTINUES LONGSTANDING PARTNERSHIP WITH ST. PATRICK’S FOUNDATION WITH BACK-TO-SCHOOL SUPPORT FOR RIVERTON MEADOWS EARLY CHILDHOOD CENTRE first appeared on Sygnus Group.

The middle order of Caribbean capital

Justine Powell.

Every Caribbean country wants more successful businesses. We celebrate entrepreneurship, invest in programmes to support enterprise, and encourage innovation at every stage. Yet relatively little attention is paid to what happens after an idea becomes a business and after that business identifies an opportunity to grow.

How are expansions financed? How are acquisitions funded? How does a development project graduate to a stable, income-generating asset?

These questions point to a reality that is often overlooked. Economic growth depends not simply on the availability of capital, but on the availability of the right type of capital at the right stage of development.

Businesses and projects rarely rely on a single source of financing throughout their lifecycle. Instead, they move through a continuum. At one end sit founders and sponsors, who bear the earliest risks and provide the capital required to transform ideas into viable enterprises. At the other end sit larger and typically less expensive pools, including commercial banks, institutional lenders, pension capital, and public markets, which are critical to scaling businesses and financing mature assets. But these providers generally require predictability, scale, and demonstrated repayment capacity before they will participate.

Between these two ends of the spectrum sits a range of providers that includes venture capital, private credit, private equity and development finance. This segment of the financial ecosystem is the middle order of Caribbean capital markets. In cricket, the middle order consists of batsmen who come in after the foundation is set and before the innings is closed out. They must demonstrate technical soundness, skill and composure to adapt their play to whatever the innings demands. They rarely receive the recognition afforded to the openers or the finishers, but they are often who determine whether a promising start becomes something substantial.

Commercial banks play an indispensable role in every economy but their mandate is not to finance every type of risk. Regulatory frameworks such as Basel III appropriately strengthened banking systems following the global financial crisis, reinforcing the importance of prudent lending and sound capitalisation. As a result, banks are most effective when lending against established cash flows, tangible collateral, and demonstrated repayment capacity. Many growth opportunities do not fit comfortably within that framework, not because they are unsuitable for financing but because they require a different type of capital.

Public markets face a different set of constraints. Across the Caribbean our capital markets remain limited in depth, but even in more developed markets, public markets are not designed to serve businesses at certain stages. Listing requires audited financials, sustainable earnings, scale, and the ongoing governance demands of a regulated environment. These are characteristics that most growing businesses and projects are still working toward. Public markets function best as a destination for mature businesses, not as a vehicle for getting them there.

Both banks and public markets, in other words, sit at the end of the capital formation journey. How they get there is precisely where alternative capital becomes essential.

This is why the concept of bankability matters so much. A bankable business or project is one that possesses the characteristics required to attract conventional lenders on sustainable terms. A business that secures five million dollars of alternative capital today may access twenty million dollars of commercial financing later because the initial investment improved its governance, reduced key risks, and demonstrated what the business is capable of at greater scale.

Bankability is frequently the outcome of alternative investment, not the prerequisite for it

The Caribbean’s financial ecosystem has grown considerably more sophisticated over the past decade. New pools of private capital have emerged, alternative investment platforms have expanded, and investors have become increasingly comfortable financing opportunities that fall outside traditional lending models.

But the middle order’s work has only just started. The gap remains consequential, and its cost is not abstract. It shows up in growth rates, employment figures, and the pace at which productive assets come online across the region.

The economies that prosper over the coming decades will not necessarily be those that produce the most entrepreneurs. They will be those that build financial ecosystems capable of supporting businesses and projects through every stage of growth.

Justine Powell is vice-president of investment management at Sygnus Capital Limited, the Caribbean’s leading alternative investment manager with over US$700 million in assets under management.

https://www.jamaicaobserver.com/2026/08/26/middle-order-caribbean-capital/

The post The middle order of Caribbean capital first appeared on Sygnus Group.

The post Rethinking Capital | Redefining Investments first appeared on Sygnus Group.

Lakespen drives profit at Sygnus

Berisford Grey (centre), co-founder, president and CEO, Sygnus Capital Limited, and James Scriven (right), CEO of IDB Invest, sign documents marking the partnership to support receivables financing for eligible businesses in The Bahamas.

SYGNUS Investment Bahamas Inc (SIB) has begun the phased rolled out of a receivables purchase platform supported by an uncommitted revolving working-capital facility of up to US$10 million from IDB Invest.

Sygnus Credit Investments Limited (SCI) is making an equity investment in SIB and guaranteeing the facility, further deepening the listed private-credit company’s exposure to The Bahamas.

IDB Invest approved the facility in July 2025, and its project page lists June 2, 2026 as the signing date. The Government of The Bahamas will initially be the underlying obligor on the invoices purchased, with the funding targeted at receivables owed to approved small and medium-sized enterprise (SME) suppliers.

The facility will allow SIB to purchase approved Government invoices from Bahamian SMEs, giving the suppliers access to cash before the Government’s normal payment date. Under the arrangement, SIB will buy the receivables at a discount and collect the full invoice value when the Government settles the obligation.

The platform will initially focus on verified receivables linked to public-sector and infrastructure-related projects. Its longer-term ambition is to onboard a broader base of eligible Government suppliers and stable blue-chip private-sector companies.

“This solution is anticipated to provide liquidity to SMEs in The Bahamas by purchasing short-term receivables with maturities ranging from three months to less than a year. Additionally, this [working capital] line will deepen the local capital market by introducing new securities that offer liquidity to SMEs without them incurring additional debt,” the IDB’s project page explained.

Sygnus Investment Bahamas is described as being a member of the Sygnus Capital Group as per the press release. SIB was incorporated in August 2024 as an international business company with Legis Limited and Lex Limited as initial subscribers. Sygnus Capital Limited co-founders Berisford Grey and Jason Morris are listed as directors of the company which had an initial capital base of US$50,000.

The press release explained that the receivables platform was supported by the IDB Invest facility and an initial equity investment of approximately US$1 million by SCI which can scale up to US$5 million over time. SCI is described as an anchor investor of Sygnus Investment Bahamas.

The IDB’s project page explained that the working capital line to Sygnus Investment Bahamas would be 100 per cent guaranteed by Sygnus Credit Investments. The receivables purchases by Sygnus Investment Bahamas are expected to be short-term with maturities up to 12 months and an average amount of US$2.5 million. The IDB revolving working capital credit line is available for up to five years.

“This partnership represents an important step in our strategy to deepen Sygnus’ presence in The Bahamas while delivering a practical solution to a real business challenge,” said Gregory Hines, vice-president, asset backed investment & projects, Sygnus Capital Limited, in the press release.

Apart from financing, IDB Invest and Sygnus Capital will collaborate on developing market studies to identify priority sectors, supplier segments, and areas of unmet working capital need in The Bahamas. IDB Invest will provide advisory services to help develop a comprehensive receivables financing program which includes operational processes, digital onboarding for SMEs, performance measurement and compliance frameworks.

“At its core, this platform is about helping Bahamian businesses convert earned receivables into liquidity faster and more predictably. Our focus is on building a disciplined and transparent platform that gives all stakeholders confidence in how receivables are verified, purchased, and settled,” Hines added.

Sygnus Credit Investments currently has 17.4 per cent of its core US$183.01 million private credit portfolio, excluding Puerto Rico, allocated to the Bahamas which is its third largest market. SCI previously funded a US$25 million project in Exuma for the Bahamas Striping Group of Companies in 2022 while Sygnus Capital lead a US$9 million fundraise for a project at Eight Mile Rock, Grand Bahama.

SCI expected to access approximately US$50 million in new credit lines during its 2027 financial year which began on July 1. This is on top of SCI’s expected draw down on the US$10 million credit facility with World Business Capital (WBC) and raising US$25 million via a preference share during its first quarter which ends on September 30. This was stated in Caricris’ recently published report on SCI.

SCI’s full year June 2026 numbers should become available by August 29.

SCI’s net profit for the nine-month period was down 30 per cent from US$6.97 million to US$4.85 million due to increased loss provisions from companies affected by Hurricane Melissa, lower interest income and fair value gains from its Puerto Rican investment. SCI received US$1.83 million in dividends from its investment Sygnus Credit Investments Puerto Rico Fund LLC.

SCI’s total assets were up 10 per cent to US$242.83 million with US$226.69 million in investments and US$2.02 million in cash. Total liabilities and equity were US$166.81 million and US$76.02 million, respectively. Jamaica is SCI’s largest core private credit market with a 40.5 per cent allocation followed by St Lucia having a 22.2 per cent allocation.

SCI’s Jamaican dollar (JMD) shares closed Monday at $9.23 which leaves it down 22 per cent year-to-date (YTD). The JMD shares traded at a new 52-week low of $9.01 on June 30. The United States dollar shares are down 22 per cent YTD at US$0.0508, with a 52-week low of US$0.0480 on July 22.

https://www.jamaicaobserver.com/2026/07/29/sygnus-deepens-bahamas-presence-idb-invest-facility/

The post Sygnus deepens Bahamas presence with IDB Invest facility first appeared on Sygnus Group.

Sygnus launches receivables purchase platform

Gregory Hines

Alternative investment firm {/span}Sygnus Investment Bahamas Inc. (SIB) has launched a new receivables purchase platform aimed at helping Bahamian businesses unlock cash tied up in unpaid invoices, backed by institutional funding of up to $10 million from IDB Invest and additional capital from the Sygnus Group, a statement from Sygnus revealed.

The statement explains that the platform will initially target approved government suppliers and contractors with verified receivables linked to public-sector and infrastructure projects, before expanding to a broader range of government suppliers, small and medium-sized enterprises (SMEs) and private sector counterparties.

Sygnus said SMEs account for approximately 98 percent of business licenses in The Bahamas and employ about 47 percent of the workforce, making access to working capital critical to the sector.

The receivables purchase platform is expected to serve businesses operating in construction, infrastructure, tourism, hospitality, manufacturing, information and communications technology, utilities and other service industries.

The company said the platform will initially be rolled out through a controlled pilot before evolving into a technology-enabled system featuring digital onboarding, invoice submission, verification and payment processing.

Sygnus and IDB Invest will also collaborate on market studies to identify sectors and businesses with the greatest working capital needs, including women-led businesses and other high-impact SME categories.

The initiative also seeks to deepen The Bahamas’ financial markets by creating an avenue through which institutional capital can be invested in receivables-backed assets linked to real economic activity.

“At its core, this platform is about helping Bahamian businesses convert earned receivables into liquidity faster and more predictably,” Hines said.

“Our focus is on building a disciplined and transparent platform that gives all stakeholders confidence in how receivables are verified, purchased and settled.”

The Bahamas was selected as the first market for the initiative because of opportunities associated with the government’s infrastructure program and the country’s active private sector, Sygnus said, adding that it intends to evaluate expansion across the wider Caribbean over time.

A $43 million government obligation related to infrastructure works carried out under a public-private partnership (PPP) arrangement became at point of contention between the government and the opposition, with Minister of Finance Michael Halkitis having to defend a similar kind of transaction as standard financial practice, while Free National Movement (FNM) Leader Michael Pintard is questioning why the arrangement was structured in the way it was.

The issue stemmed from contractors involved in infrastructure projects selling receivables owed by the government to the African Export-Import Bank (Afreximbank) through a factoring arrangement.

Sygnus launches receivables purchase platform | Business | thenassauguardian.com

The post Sygnus launches receivables purchase platform first appeared on Sygnus Group.