Paul Pereira and Howard Vinik formed P.V. CALA Equity Fund as a Cayman Islands exempted limited partnership. The objective of the company was to make equity investment primarily in the Caribbean and Latin America based middle market assets in the hotel and hospitality sector. The company also wanted to generate returns for the fund’s investors that were consistent with or better than historical returns on private equity. The Fund made these returns by making buyouts, as well as controlling and non-controlling direct investments in the CALA region that was primarily in hotels, resorts, marinas, infrastructures and physical casinos.
The Funds were administered by the Northern Trust in Dublin, Ireland and legal by Mayer Brown in Washington, DC. P.V. CALA was a blue blood fund domiciled in the Cayman Islands and administrated in Dublin, Ireland with a strategy to acquire first generation family owned non-flag hotels.
Today, P.V. CALA still exists as a private equity firm, and Pereira is named as one of the partners.