Bahamas, May 11, 2017 – Nassau – Sterling Global Financial, a Bahamas based financial company with offices in the Cayman Islands, has captured one of Canada’s most prestigious finance industry awards, the “Private Capital Markets Award (PCMA) for Best Fund 2016”.
Sterling, in conjunction with Canadian-based GMP Securities, took the top spot in the real estate fund category. “This is an honour for firms in the private capital market sector and we at Sterling are extremely proud to have been selected the winner,” said Sterling Global Financial Chairman David Kosoy. “We work assiduously to raise funds and invest those funds for the benefit of our investors. It is rewarding to note that the hard work that goes into this part of our mission is recognized by the industry, who understand that what we do quietly behind the scenes is making a difference for our investors.”
Several of Sterling’s board directors are originally from Canada, including Mike Harris, the former premier of Ontario. In 2015, a Vancouver think tank conducted a performance review of 80 premiers and voted Harris, who served from 1995-2002, as Canada’s most effective premier since 1981.
PCMA had high praise for Sterling. “The group’s success capitalizes on over half a century of successful real estate and investment experience of its management team,” it reported. “Their primary investment focus is in real estate; both debt and equity, and related services. They have active investments and projects throughout the Caribbean and North America. In working with GMP Securities, a leading independent investment dealer, Sterling successfully raised capital through the Richardson GMP wealth management arm of GMP Securities.”
According to PCMA, the award is the only one of its kind for private capital market professionals and is reserved for “business leaders who help build a vibrant and successful private capital markets in Canada… and promote best practices and high standards of conduct in the private capital markets”.
Nominees are evaluated based on their leadership in the industry, the quality of the deal, and its impact on the private equity industry. Innovation, creativity and complexity are all taken into consideration when measuring candidates for this award, which is done by the selection committee comprised of independent members of the PCMA’s national Board of Directors. PCMA stated. “Capital raised in the private capital/exempt market helps finance economic activity across Canada and is an important contributor to supporting entrepreneurial business, and creating wealth for Canadian investors. The PCMA believes in celebrating and promoting the success stories of the private capital markets. We recognize the professionals behind those successful capital raising transactions and the successful outcomes they generate for issuers, dealers and investors.” PCMA began the award program five years ago and says its winners “set the benchmark for other professionals to follow”.