Liquidators looking to get their hands on the properties of Three Arrows Capital (3AC) co-founders Su Zhu and Kyle Davies have reportedly hired consulting firm Teneo, according to EdgeProp. The trio behind the Singapore-based crypto hedge fund are said to have amassed several billions of dollars in crypto assets at their peak.
EdgeProp reported that from 2019 to 2021, Zhu and his wife snapped up three bungalows in the city-state that amounted to S$83.6 million (US$60 million) in total. These acquisitions include a 5,242 square foot bungalow on Balmoral Road and a property near Dalvey Road. The most recent was a US$35 million space in Kilburn Estate bought in trust for their three-year-old son on December 2021.
Between them, the 3AC team reportedly owns five upscale properties as well as luxury vehicles and yachts.
A British Virgin Islands court recently ruled that 3AC assets would be liquidated as it was unable to pay its creditors following the crypto meltdown that occurred a couple of months ago. The Monetary Authority of Singapore also took 3AC to task for giving fraudulent information and violating licensing guidelines.
Currency converted from Singapore dollars to US dollars: US$1 = S$1.39
See also: Despite the Terrapocalypse, huge crypto staking rewards are still a draw
Editing by Samreen Ahmad and Eileen C. Ang
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