01 Jul 2022 · 1 min read

Three Arrows CEO Zhu Su Seeks to Sell Luxury Singapore Mansion – Reports

The mansion on 25 Yarwood Avenue in Singapore. Source: Google

 

Zhu Su, the co-founder and CEO of the troubled crypto hedge fund Three Arrows Capital, is reportedly seeking to sell a mansion he owns in Singapore.

The CEO has been trying to offload at least one of his so-called good-class bungalows in the past couple of weeks, Bloomberg reported, citing undisclosed people with knowledge of the matter. 

The house, located on Yarwood Avenue in Singapore’s Bukit Timah neighborhood, has been put up for sale as a private deal for an undisclosed amount, per multiple reports.

The case has been commented on by several members in the crypto community, with some sharing screenshots of what appears to be a notice of the property listing. The notice describes the sale as “urgent” and adds that it could be possible to get it for “a very good price.”

The house was originally purchased by Zhu and his wife in late last year for SGD 48.8m (USD 35m) via a trust fund in the name of one of his children, multiple media sources have reported.

According to the local real estate outlet EdgeProp.sg, two partners at the advisory and consulting firm Teneo have been appointed to handle the liquidation of assets from Three Arrows Capital. The hedge fund was officially ordered liquidated by a court in the British Virgin Islands on Monday this week.

EdgeProp.sg further said that the house in question is the latest of three bungalows Zhu and his wife has bought in Singapore since 2019.

Additionally, the same report said that another property, purchased by Zhu for SGD 28.5m (USD 20.4m) in September 2020, is still owned by the couple and held under the name of Zhu’s wife.
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Learn more: 
- Three Arrows Reprimanded by Singapore
- Celsius’ Positions are Now Healthier, Three Arrows Capital Was a 'Victim of Contagion' - Nansen

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