PANAMA CITY BEACH, Fla., July 18, 2013 /PRNewswire/ -- Today, JP Anderson Limited, Subsidiary to Sloud, Inc., (Pink Sheets: SLOU) announced it has formed a new Private Equity Fund, "The Sierra Leone Development Fund I, LP".
JP Anderson will begin raising capital for the Private Equity Fund as a vehicle to promote economic development in the Country of Sierra Leone in West Africa.
JP Anderson is looking to raise and invest $100 million in small-to medium-sized businesses and government related agency projects. The fund will seek minority stakes of $5 million to $10 million in companies that have current or projected earnings over $2 million annually. The fund is not targeting specific industry sectors but is aggressively looking to work with the Government on various agency related projects that can greatly stimulate the country's growth and development.
The creation of the Sierra Leone Development Fund I, LP came as a result of JP Anderson's involvement with businesses and various philanthropic initiatives. While seven out of the top ten fastest growing economies in the World are in Africa, the country of Sierra Leone is being overlooked as a true top emerging market due to its past history of civil unrest. On our own personal account, we have seen amazing improvements in roads and infrastructure over the past three years and are experiencing a great deal of increased interest from businesses and investors desiring to enter the marketplace. It is our full intent to assist the government and corporations with various projects that will bring a great deal of financial sustainability, job creation, reoccurring revenue models and overall country growth to stimulate tourism and build on the reputation as a safe and productive country to visit, live and do business.
JP Anderson says it is looking worldwide for participants. The fund currently has several commitments from both U.S. families and Sierra Leone families as initial investors.
JP Anderson says its primary objective as a company and fund manager is to embrace capitalism, improve economic freedom and create jobs and wealth for the people living in Sierra Leone.
James Price, CEO of JP Anderson and the co-manager of the fund stated, "JP Anderson will not just be a bank to the projects and/or companies. We will utilize all of our skill sets and contacts to draft, organize and influence the path for each project." Mr. Price continued saying, "I expect to close several deals/project financings in Sierra Leone by the end of this year. "
Sloud, Inc., is a U.S. corporation with offices in Panama City Beach, FL., and San Diego, CA. Sierra Leone subsidiary, Leone Asset Management operates as a Government contractor as well as owning and operating a group of diversified subsidiaries that provide financial advice on individual wealth management, mergers, acquisitions, restructurings, financing, real estate and development, and capital raises to a global client base including individuals, corporations, partnerships, institutions and governments. For additional information, visit: www.leoneasset.com
About JP Anderson
Headquartered in Freetown Sierra Leone, JP Anderson (SL), Ltd., intends to be the Worlds premier boutique investment banking, securities and investment management firm focused on providing financial advice on individual wealth management, mergers, acquisitions, restructurings, financing and capital raises to a global client base including individuals, corporations, partnerships, institutions and governments. Currently, JP Anderson has office locations in Sierra Leone, Norway and Sri Lanka.
Forward-Looking Statements Disclosure
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SOURCE Sloud, Inc.