Caribbean Financial Group (CFG) was established in December 2006 as a result of the sale of Wells Fargo Financial Latin American Consumer operations to our sponsor – Irving Place Capital – a private equity firm based in New York City focused on equity investments in middle market companies. Since its formation in 1997, Irving Place Capital and its predecessor has been an investor in more than 60 companies and has raised over $4 billion of equity capital, including its current $2.7 billion institutional fund.
Our oldest location, located in St. Maarten, dates back to 1979, followed shortly after with expansion into Aruba and Curaçao all under the Island Finance brand name. The operations in Panama began in 1985 under a different name more appropriate for a Spanish speaking country, Financiera El Sol. Several years later, the name was changed to Corporación El Sol to better position us for continued future growth. Additional Island Finance operations were then opened in Bonaire, Trinidad & Tobago and most recently CommoLoCo brand in Puerto Rico.