The Beginning

In 1964, the Facey Family formed Jamaica Property Company Limited (“Jamaica Property”), which focused on real estate development in Kingston. Shortly thereafter, the Honourable Clinton Hart incorporated Pan-Jamaican Investment Trust Limited (“PJIT”), a company with a dual purpose: investing in a wide range of Jamaican businesses, while providing ordinary Jamaicans with the ability to participate in those investments. In line with this mandate, PJIT applied to be listed on the Kingston (Jamaica) Stock Exchange and, in 1965, raised £200,000 through a public offering.

A year later, Jamaica Property became a wholly-owned subsidiary of PJIT in a transaction that represented the amalgamation of two companies driven to grow Jamaica. The Honourable Maurice Facey, a self-described serial entrepreneur, became PJIT’s Managing Director and eventually Chairman, guiding the company through decades of macroeconomic and political uncertainty but never wavering from his goal of contributing to Jamaica’s long-term success.

The 1980s
A Decade of Dynamic Development & Strategic Acquisitions

In the 1980s, PanJam acquired Jamaica Floral Exports Limited and Sans Souci Hotel and Resort and attained a controlling interest in Scott’s Preserves Limited. These investments exposed PJIT (which was eventually renamed PanJam) to export markets and tourism. Years later, they ventured into the finance industry with the establishment of First Life Insurance Company Limited and the acquisition of a 20% stake in Pan Caribbean Merchant Bank Limited. Through a series of strategic restructurings, these two transactions laid the foundation for one of PanJam’s largest holdings today – a 30.2% stake in Sagicor Group Jamaica Limited.

PanJam emerged as a business leader, pioneering the development of high-rise commercial and residential properties, and investing in iconic Jamaican companies. They began with the construction of the Air Jamaica Building in Downtown Kingston, the Imperial Life Building on Knutsford Boulevard, and the Abbey Court Apartments on Hope Road. They diversified their portfolio by investing in the manufacturing and trading industry with the acquisition of Wherry Wharf. PanJam then made its mark as a serious private equity player by purchasing Hardware & Lumber Limited in Jamaica’s first public hostile takeover.

2000 and beyond
A New Millenium Heralding Unwavering Growth

More recently, PanJam continued to invest in Jamaica through partnerships with Chukka Caribbean Adventure Limited, Mavis Bank Coffee Factory Limited, Term Finance (Jamaica) Limited, and New Castle Company Limited (the owner of the Walkerswood, Busha Browne, and Jamaica Joe brands). They reaffirmed their commitment to the development of Kingston by introducing the international hotel brand Courtyard by Marriott and acquiring the Oceana Hotel on the Kingston waterfront, now known as the ROK Hotel & Residences.

PanJam also sought opportunities beyond its shores, investing in an Aloft Hotel in Miami, Florida, a shopping center in Fort Lauderdale, Florida, and other real estate projects in Canada. They took a stake in Outsourcing Management Limited (itel), the region’s largest home-grown customer experience company, and a stake in the provider of flexible office space throughout the Caribbean, Williams Offices Caribbean Limited (Regus).

As an investment holding company, PanJam occasionally divested interests in associates, but through all the changes to their portfolio, PanJam remained committed to their founders’ vision. PanJam actively pursued a diverse set of investments that would contribute to the growth of the real Jamaican economy while ensuring the creation of long-term value for stakeholders. As PanJam’s footprint expanded, it reached from Jamaica to Barbados, Canada, Guyana, Honduras, St. Lucia, Trinidad, and the United States.