September 10, 2013 - Capri Capital Partners
CHICAGO,IL – Quintin E. Primo III, chairman and CEO of Capri Global Capital, Ltd. (CGC) (Cayman), announced today that the international real estate investment firm – which is affiliated with U.S.-based Capri Capital Partners LLC, (CCP), a U.S. Securities and Exchange Commission-registered real estate investment adviser – has entered into a definitive agreement to strategically align with the Indian company formerly known as Money Matters Financial Services Limited (MMFSL), a publicly listed company trading on the Indian National Stock Exchange and Bombay Stock Exchange focused primarily on asset based commercial lending to real estate owners and small industrial and service companies in India. This arrangement has included renaming MMFSL to Capri Global Capital Limited (CGCL) to reflect its new strategic alignment, and the appointment of Mr. Primo as non-executive chairman and a new member of CGCL’s Board of Directors.
The MMFSL board approved the adoption of CGC’s logo and name change pursuant to a trademark and licensing agreement with CGC. Together, CGCL and CGC plan to explore business and investment opportunities related to South Asian residential and commercial real estate property markets. CGC is in process of selectively expanding its real estate investment management and research platform into global emerging markets through strategic alliances such as that with CGCL.
As newly appointed non-executive chairman and director of CGCL’s Board of Directors, Mr. Primo becomes one of, if not the first, African American to serve on the board of an Indian-registered publicly listed company. In his responsibilities as non-executive chairman, he will oversee quarterly board meetings focusing on CGCL’s overall business strategy.
“Over the next five years, I will assist the board in developing strategies, policies and governance procedures to capitalize on what we consider a countercyclical opportunity in the Indian real estate market due to extremely difficult economic, currency and credit market conditions,” said Mr. Primo.
“I have taken great pride in leading organizations that challenge convention and think differently to realize attractive long-term benefit to investors. I believe that getting a counter-intuitive foothold now in this vast and developing marketplace – and with a respected Indian company the caliber and stature of CGCL – will create compelling opportunities for our alliance and the investors we help bring to the table,” stated Mr. Primo.
Concurring, P. H. Ravikumar, lead managing director and current board member of CGCL, noted that “Mr. Primo’s deep institutional understanding of global commercial and residential markets will also be instrumental to help us determine where and how best to raise and deploy investment capital. Going forward, our efforts will be based on proprietary research as well as expanding the company’s lending and investment platform beyond our primary offices in Mumbai, New Delhi, Ahmadabad and Ludhiana.”
About Capri Global Capital, Ltd. (Cayman)
Capri Global Capital, Ltd. (CGC) (Cayman) was formed in 2008 as an affiliate of Capri Capital Partners LLC (CCP) for the purpose of making real estate private equity and infrastructure investments in emerging global markets. CGC has initially targeted Africa, India and the Middle East – all emerging markets that have fast-growing and densely populated urban areas generally underserved in terms of high quality commercial and residential real estate and infrastructure. CGC builds on the real estate investment experience of CCP, a real estate investment management company founded in Chicago in 1992 that has completed more than $10 billion in commercial and residential property investments. Currently, CCP has $3.6 billion in real estate assets under management (as of June 30, 2013) representing many large U.S.-based pension funds and other institutional investors across separate account, commingled fund and joint venture formats. Over its 21-year history, CCP has developed a distinct capability in U.S. multifamily residential and urban investments. CGC and CCP are headquartered in Chicago, with additional offices in Los Angeles and the New York area.
More information about the organizations can be obtained on CCP’s website at www.capricapital.com.
About Capri Global Capital Limited
(Formerly Money Matters Financial Services Limited)
Capri Global Capital Limited (CGCL) (India) is a publicly listed non-banking finance company (NBFC) based in India focused on wholesale and small and micro enterprise (SME) lending. It was formerly known as Money Matters Financial Services Limited (MMFSL). As of March 31, 2013, CGCL’s consolidated net worth was approximately Rupees 899 crore ($146.3 million). During the last two years the company has disbursed loans aggregating approximately Rs. 1,000 crore ($162.7 million) and the loan book outstanding as March 31, 2013 stood at approximately Rs. 425 crore ($69.2 million). CGCL is focused on the priority sector in the SME lending business, providing loans for purchase of machinery and equipment, working capital and acquisition of real assets. In its wholesale lending business, CGCL provides loans for project funding, acquisitions, structured debt financing and receivables discounting. For more information, visit www.cgcl.co.in
This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any security relating to Capri Global Capital, Ltd. (Cayman) or its affiliate Capri Capital Partners, LLC or any of their funds. Any offer or solicitation may be made only through the delivery of a definitive Private Offering Memorandum and all information contained herein is qualified in its entirety by such Memorandum.