KINGSTON, Jamaica — Cornerstone Financial Holdings Limited announced on Tuesday it has received regulatory clearance for its Barita Investments Limited unit to acquire JN Fund Managers Limited (JNFM) and has entered a strategic partnership with Proven Management Limited.

Barita, a listed investment banking and asset management firm, has obtained a no-objection for the purchase of 100 per cent of JNFM’s issued share capital from the Jamaica National Group. The acquisition is expected to lift Barita’s assets under management above $500 billion, broaden its client base and strengthen its pension and institutional asset management capabilities.

In a separate move, Cornerstone said it formed a strategic partnership in December with Proven Management Limited, the investment manager of Proven Group Limited. The alliance combines Cornerstone’s platform with Proven’s portfolio of financial, real estate and private capital investments across the Caribbean and North America.

Director of Cornerstone and Chairman of Barita, Mark Myers said the combined Cornerstone and Proven platform now manages roughly $1 trillion in assets and invested capital across banking, asset management, real estate and financial technology.

Myers highlighted the foundational role of Cornerstone’s leadership in achieving these milestones. “None of this strategic progress would have been possible without the vision and steadfast stewardship of our Founder and Group CEO, Paul Simpson, CD,” said Myers. “His disciplined execution and unwavering integrity have been instrumental in building a platform capable of delivering intergenerational value.”

The group also outlined its expansion since its founding in 2013, which includes the acquisitions of MF&G Trust and Finance—now Cornerstone Trust & Merchant Bank—and a controlling stake in Barita in 2018. Barita has raised approximately $34.5 billion in permanent capital since 2019, supporting its move into investment banking and wealth management.

Cornerstone’s portfolio spans five core areas: investment banking, alternative investments, wealth and asset management, banking, financial technology and real estate development. The group reported total shareholders’ equity of about $548 million as of September 2025.

Myers thanked stakeholders including the Government of Jamaica, founding shareholders, funding partners, and the boards of JN Financial Group and Proven. He also acknowledged the management and staff across the group, as well as the clients “whose continued trust has been central to our success.”

He added that an additional strategic partnership aimed at further diversification is expected to be announced shortly.