Structuring an Open-Ended Fund:

Cresco structured and set up an open-ended fund, a Cayman Islands Segregated Portfolio Company, to be managed by an Investment Manager, a registered fund management company regulated by the Monetary Authority of Singapore.

The Fund had some unique features including variable lock-up periods for investors with lock-up premium payable to such investors depending on the length of the lock-up period. Additionally, the Fund was structured in a way that allows it to issue bonds to leverage up so that it achieves a better gearing in its investments.

While ensuring compliance with the continuously evolving regulatory environment, we arranged for the successful launch of Fund A, which includes:
(1) Preparation of an Offering Memorandum for share placement in Fund A; and
(2) Registration of Fund A with the Cayman Islands Monetary Authority.

Issuance of bonds by the Initial Fund:
We structured and put in place an ability for the Fund to issue bonds. The bonds will have a 4-year tenor with an interest per annum, payable annually.

Structuring Single Family Offices (SFOs):

Cresco has extensive experience in structuring Single Family Offices (SFOs), pulling all family businesses and investments, bankable and non-bankable assets, shareholders and varied interests into the SFO structure.

Cresco carefully structured each SFO, customizing and tailoring it for each individual family.

With our understanding across various types of investments, financial products and businesses, this allows us to customize and tailor-make bespoke structure(s) for each SFO to suit each SFO’s unique requirements.

Debt Restructuring:

One Richardson and Richardson Centre together form a development project that is developed by Devwest Group. The Project is situated at 3 Richardson Street, South Perth, WA 6151, and comprises of 2 buildings, one residential and the other commercial.

The Project has been stalled due to various reasons, including market conditions and issues with the financing structure.

Cresco was appointed to restructure the entire project (including arranging the refinancing of the existing lenders and put together a construction loan to complete the project). Faced with multiple existing stakeholders and a difficult refinancing environment, Cresco worked to get all stakeholders in line with the restructuring plan and procure the right financing partners to provide suitable refinancing and a construction loan.

We successfully restructured the Project and closed the AUD 66.56 million refinancing and construction financing of this Project, achieving an extremely high loan to value ratio. The total value of the refinancing deal comprises a 1st mortgage loan of AUD 60.56 million (that Cresco had worked on with Development Finance Partners) by Centuria Bass, and a 2nd mortgage loan of AUD 6 million by a mezzanine private financier.

Business Restructuring:

Cresco Investments was appointed as the AA Group’s consultant to provide professional advice to the board and management, in particular the renewal and restructuring of the Company’s business.

We have arranged and led a group of key investors and shareholders into AA Group Holdings Ltd through the buyout of some existing shareholders who had wanted to exit.

Further, Cresco Investments assisted in the fundraising for AA Group Holdings Ltd through the issuance of Rights Shares with Warrants.

AA Group has gone through a few M&A transactions, mainly to divest its unprofitable businesses (manufacturer and supplier of audio equipment parts) and acquire profitable businesses (leasing and construction business). We played a pivotal role throughout the entire transaction cycle.

Following the acquisition of various companies, AA Group Holdings transitioned from a manufacturer and supplier of audio equipment parts into a company that works in the leasing and construction business.

Cresco has achieved a successful investment in a specialized company focusing on plant-based dairy and protein alternative products. This visionary company offers a diverse range of ready-to-drink products that are entirely free from soy, dairy, and nuts.