Retirement can wait
Christopher Williams dives back into high-stakes dealmaking
RETIREMENT, it seems, didn’t stick for Christopher Williams. The former Proven CEO is back in the thick of dealmaking, intensifying his involvement at Spark FDI and Different Properties Jamaica Limited — his two latest ventures — as both firms pursue a new wave of investment opportunities in Jamaica and The Cayman Islands.
Williams, who now serves as chairman at both ventures, is taking a hands-on approach as Spark FDI — an investment brokerage targeting global capital — and Different Properties — a hospitality-focused real estate developer and management company — move to close several high-value deals.
“We have executed about three deals so far,” Williams said in an interview with the Jamaica Observe Monday. “Two of those deals were executed in Cayman and the other in Jamaica. Our minimum transaction size is US$1 million, because we’re targeting FDI; it’s not remittance. We’re trying to do projects,” Williams continued. Without elaborating, he added that the deals so far are in energy, tourism and minerals. The brokerage now operates in Jamaica and Cayman Islands but is also in the process of seeking registration in US, UK and Canada as well.
Spark FDI is positioning itself as a bridge between international investors and opportunities in Jamaica and Cayman, with a particular focus on the Jamaican Diaspora for its home market and international investors for Cayman Islands.
The Jamaican Diaspora is being sought for Jamaica because of its deep ties, growing financial strength, and the country’s strategic need to convert Diaspora engagement from remittances and visits into productive investment — an area seen as critical for sustainable national growth. For Cayman, the focus is on international investors, leveraging the territory’s established reputation as a global financial hub with a stable, tax-neutral environment that attracts multinational corporations and high-net-worth individuals
“The brokerage breaks down the opportunities into three segments,” Williams explained. “The public opportunities, those are pretty much listed on a market, whether it be a bond market or an equity market, across both Jamaica and Cayman. The second is private opportunities, which has gotten the most attention — every deal that we’ve done so far and every deal that we’re working on is on the private market side. And, you know, those are energy, those are tourism, those are minerals. It’s the private markets that I guess people are most attracted to.”
Williams says real estate, the third investment opportunity he’s presenting to the diaspora is emerging as the most sought-after asset class, especially among younger generations.
“I was in London for two weeks recently, I went up to do a couple roadshows. And, in all of the presentations and all of the discussions, real estate, that’s what the entire second- and third-generation Jamaicans want. They want, as soon as they get their, two or three weeks vacation, they want to be on a flight, to Montego Bay or Ochi or Falmouth or Negril to just chill… and then to have [the property] rented when they’re not there,” he said. “So, yes, the real estate looks like the top asset class, top opportunity, and then private deals. Public has achieved, the lowest take-up so far,” he added though he said there are many stocks listed on the Jamaica Stock Exchange that present better return opportunities than those in UK, US or Canada, which he will be pointing investors to.
Williams added that Spark is “pounding the pavement, building out the distribution lists”, and leveraging social media to market opportunities: “We have our Instagram page and Facebook, and so on, and we’re doing our reels and getting all the details on the different opportunities.”
Williams attributes the uptick in investor interest to regional stability and improved market fundamentals. “People are looking for a safe sanctuary to get easy sleep at night,” he said. “Improved confidence, certainly in the case of Jamaica moving up in credit ratings over the last 15 years and now firmly established as a manageable risk destination makes it more attractive. Certainly, Cayman has been in that position for a long time, and then, three, attractive ROE. We’re seeing good returns on the various asset classes, whether it be public, private or real estate.”
Different Properties, meanwhile, is targeting the hospitality segment with a model focused on fully regulated, limited-service hotels. Williams pushed back against suggestions the firm would operate in the unregulated short-term rental market.
“I just want to make it clear that that is definitely not our plan. We plan to be a very limited service hotel, fully registered, fully involved in the growth of the hotel industry across the Caribbean, but definitely fully regulated.” The first property is to be constructed in Kingston.
The operational demands of both startups have prompted Williams to reprioritise his commitments.
“Unfortunately, that will remove my ability to give back to the PFJL and to football after August 31 this year,” he said. “So over the next three months, I will transition out of the chairmanship of the PFJL and just lock in with Chantal and Gary on executing our business models.” PFJL is the Professional Football Jamaica Limited, the commercial arm of the Jamaica Premier League. Williams has been in the post for the last five years.
But with his own business now demanding his time, Williams is focused on execution. “We don’t have any staff. It’s just Chantal and Gary, and me. We have to bootstrap it. So we’re just bootstrapping it until we get to a level. So, all hands on deck until we get to a level,” he said. Chantal Simpson is the CEO of Spark FDI and Gary Matalon the CEO of Different Properties.
“I’m very excited because they’re two new, new spaces, and I like to change the game a little bit. And so I see this as game-changer,” he said.