Kittitian-born Leslie Thomas, has drafted his company, Possibility Group Limited, into a partnership with Singapore-based Sovereign Pacific Capital that will establish, manage and administer the US$500-million Sovereign Pacific Fund, which will support sustainable investments in St Kitts and Nevis and the wider Caribbean region.
Thomas, now a Canadian citizen, disclosed that the idea of the fund grew out of his motivation to “give back” to Tabernacle, St Kitts & Nevis and the wider Caribbean, and to contribute in a “unique and lasting” way to the region through Possibility Group, Possibility Capital and Global Human Care Foundation.
“We are very excited about our partnership with Sovereign Pacific Capital, Chairman Umashanker Mishra, and Sovereign Pacific’s US$500M Fund, which will help to address a significant barrier to growth (access to financing) in the Caribbean region,” he said.
As part of the terms of the partnership Possibility Capital, the Caribbean wealth and asset management subsidiary of Possibility Group, will manage and administer the Sovereign Pacific Fund.
With operations in Asia, the Caribbean, and North America, Possibility Group focuses on creating, developing and managing sustainable businesses for stakeholders based on a life cycle-engineered, performance-driven partnerships.
The company’s portfolio already includes investments in real estate development, renewable energy, asset management, investment management, sustainable manufacturing, proprietary agriculture, and medical health care.
According to Thomas, “Sustainable manufacturing in the Caribbean region and the production of high-quality Caribbean steel rebar and also environmentally-friendly Insulated Concrete Forms (ICF), will help property owners, developers, resorts, hotels, governments, institutions and asset managers to reduce capital cost, energy cost and construction time, and significantly increase buildings strength (hurricane proof).”
“Further benefits include developing new skills, trades, occupations, employment for women in the construction industry; and our Suncastle Resorts, Condos & Commercial buildings will be constructed primarily by Caribbean women (to the highest industry standards and without compromise in quality, safety, strength or finish), which will be innovative, revolutionary, unique and life changing”, the Possibility Group CEO disclosed.
Like its partner, Sovereign Pacific Capital is a wealth and asset management firm with an investment focus in financial services, real estate, health care, renewable energy, hotels and resorts, manufacturing, and agriculture.