Croesus’ founder Jeremy Yong has the last laugh

Croesus Retail Trust was the only Japanese mall-focused trust listed in Singapore, with few investors believing in Jeremy Yong and his team.

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Azure Capital Fund Management Singapore Private Debt Fund Singapore Hedge Funds Lyte Fund Terence Wong Blue Suit

Terence Wong, CFA

CEO and Executive Director
Azure Capital

Feb 4, 2019

Met up with Jeremy Yong, former MD of Croesus Retail Trust, for breakfast. CRT was bought up by PE fund Blackstone back in October 2017 – at 20% premium to NAV and 38% premium to the last traded price prior to announcement. The business trust was best known for internalising the manager, which met with fierce resistance. Guess the sale to Blackstone barely a year later was vindication for Jeremy and team.