Eppley Limited has acquired full ownership of Stratus Alternative Funds SCC from NCB Capital Markets Limited, a move that will deepen the investment firm’s footprint in private markets while allowing NCB to refocus on core priorities.

The deal, finalised on April 15, hands Eppley complete control of the Barbados-domiciled investment platform, which previously managed a suite of funds in alternative asset classes such as credit, private equity, and infrastructure. Following the acquisition, the Caribbean Mezzanine Fund II (CMFII) will be the sole active cell within the Stratus structure.

While the financial details of the transaction were not disclosed, Eppley and NCB Capital Markets have jointly managed CMFII since its inception. With this new arrangement, Eppley assumes full investment management responsibilities for the fund.

“Eppley has a long history of generating attractive risk-adjusted returns by investing in private markets on behalf of its shareholders and investors,” Eppley Vice-Chairman Nicholas Scott said in a release posted on the Jamaica Stock Exchange. “We are excited to assume full control of CMFII and are committed to building on its strong track record.”

Stratus was launched by NCB Capital Markets in 2021 as part of a push to diversify its offerings beyond traditional financial products. It was promoted as a flexible vehicle for regional and international investors to access specialised investments via segregated fund cells. The flagship CMFII targets high-yield opportunities across the Caribbean, particularly in sectors requiring mezzanine or growth capital.

NCB Capital Markets CEO Angus Young described the divestment as a “deliberate” decision aligned with the company’s broader strategic realignment.

“The deliberate pursuit and execution of this transaction is in line with our focus on core strategic objectives and in this case, gaining agility and more efficient capital deployment across NCBCM,” said Young. “The alternative investments asset class remains a focus for NCBCM and we are working towards our future approach.”

Importantly, the transfer does not affect investor shareholdings in any of the Stratus funds.

The move signals Eppley’s intention to consolidate its leadership in the Caribbean’s private capital market, where it has been expanding its reach through funds targeting infrastructure, real estate, and specialised credit. It also reflects a wider trend among regional institutions looking to optimise their asset management operations amid shifting market conditions and capital demands.

For NCB, the exit from Stratus is not a withdrawal from alternative investments altogether but rather a repositioning to pursue a more targeted strategy in that space.

— Karena Bennett