Defiance Capital Distanced Itself From Hedge Fund Three Arrows CapitalAdmin
DeFiance Capital has declared its operational independence from hedge fund Three Arrows Capital (3AC), which is going through bankruptcy. In the past, it was positioned as his “sub-fund.”
The document says DeFiance Capital founder Arthur Cheong registered a firm “totally independent” from Three Arrows Capital in 2020. A similar definition appears on the company’s website.
“Arthur has never been associated with or involved in the management of 3AC and/or its affiliates. He did not have access to the financial statements and documents of the hedge fund and became aware of his solvency problems in mid-June 2022, when the news was spread by the media, ” the message explains.
DeFiance Capital claims it was a counterparty to 3AC and its liquidation impacted the business, causing damage.
“Arthur Cheong intends to take all necessary steps to protect, preserve and recover all assets that are owned and owned in the context of DeFiance Capital ‘s business,” the document states.
Earlier, a similar position was taken by TPS Capital, which positioned itself on LinkedIn as the OTC division of Three Arrows Capital.
Recall that in mid-June, Cheong assured investors to continue working against the backdrop of 3AC problems.
According to media reports, the liquidators of Three Arrows Capital are trying to investigate and save the Singaporean assets of the bankrupt cryptocurrency hedge fund.