FOR IMMEDIATE RELEASE
PRESS RELEASE
FEBRUARY 20, 2025
SYGNUS CREDIT INVESTMENTS DELIVERS EXCEPTIONAL HALF-YEAR PERFORMANCE
(Castries, St. Lucia) Sygnus Credit Investments (‘SCI’ or the ‘company’), the private credit company within the Sygnus Group, has continued its strategic expansion across key sectors
and territories throughout the region, reinforcing its position as a powerhouse in alternative investments. Additionally, SCI doubled core revenues and net profit for the half-year results,
reflecting the strong financial performance in its Puerto Rico subsidiary, Acrecent Financial LLC (AFL). Reporting an exceptional performance for the six months ended December 31, 2024 (“6
Months 2024”), SCI as the Caribbean’s leading alternative investment firm, has demonstrated its commitment to sustained growth and value creation.
The company also recently closed its perpetual preference share offer, which sought to raise US$20.00 million and J$1.20 billion. The offer was oversubscribed despite being upsized,
reinforcing investor confidence in SCI’s ability to generate sustainable value. The capital raise is part of a broader funding strategy aimed at raising approximately US$100 million in financing
over the medium term. This initiative has already achieved success through SCI’s international partnership with World Business Capital (WBC), supported by financing guaranteed by the
United States Development Finance Corporation (DFC). SCI is currently finalising transaction documentation with initial deployments into qualifying Jamaican entities expected to begin prior
to the end of the current financial year.
Executive Vice President and Chief Investment Officer, Sygnus, Jason Morris, emphasised that SCI’s performance underscores the resilience and adaptability of the Group and its investment
model. “SCI’s half-year performance highlights the strong financial results from its Puerto Rico subsidiary, Acrecent, which has more than doubled net profit for the 6 months period compared
to last year and achieved a new second quarter record for net profits of US$1.5 million. Since its reorganisation on July 1, 2023, Acrecent has generated cumulative earnings exceeding US$7.0
million over the last six quarters. This success underscores the effective execution of SCI’s investment strategy envisioned at the time of the acquisition. With Acrecent’s continued
profitability, SCI is well-positioned to capitalise, in the near future, on opportunities to return capital in the form of dividends from the Puerto Rico subsidiary, ultimately benefiting
shareholders.”
SCI’s core revenues or total investment income increased two-fold to US$8.72 million for 6 months 2024, versus US$4.15 million for the 6 months 2023. For Q2 Dec 2024, Total
Investment Income increased by 46.2% or US$1.15 million to US$3.65 million, up from US$2.50 million for Q2 Dec 2023. SCI’s net profits also increased over two-fold to US$5.13 million for 6
months 2024 versus US$2.28 million for the 6 months 2023. The half-year net profit figure almost eclipsed the total net profit earned in the last financial year. SCI had total assets
amounting to US$217.81 million, an increase of US$11.18 million or 5.4% versus US$206.63 million last year. Total shareholders’ equity increased by US$5.14 million or 7.3% to US$75.62
million. Looking ahead, SCI remains focused on expanding its footprint and deepening its impact in the region’s alternative investment space. The company’s outlook remains positive, with plans to
further enhance its portfolio and capitalise on opportunities in the private credit space.
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About Sygnus
Sygnus is a leading alternative investment firm in the Caribbean and Latin America, dedicated to driving economic development across the region through creative and innovative financing solutions. By offering a range of investment alternatives, including private credit, real estate financing, and private equity, Sygnus addresses unmet demands, unlocking capital for growing enterprises and playing a pivotal role in regional economic growth. The cutting-edge alternative investment (AI) platform is fueled by transformative strategies designed to accelerate development across the Caribbean and Latin America. This platform is backed by a team of forward-thinking experts who craft tailored solutions for our clients, complemented by dedicated investment banking and wealth management services. Sygnus also provides specialised services in Puerto Rico through Sygnus Capital PR LLC, formerly known as Acrecent Financial. As of December 2023, the company expanded its offerings, reaffirming its commitment to delivering innovative and personalised financing solutions that foster the island’s economic growth.
