Kyle Davies, co-founder of Three Arrows Capital (3AC), who has been evading Singaporean authorities following the collapse of the hedge fund, has reportedly been spotted in Bali, according to anonymous sources. The sighting raises questions about his whereabouts and actions, given the legal proceedings and four-month jail sentence he faces in Singapore for failing to cooperate with investigations into the bankruptcy of 3AC.
Images provided by the anonymous source allegedly show Davies at the Milk and Madu cafe in Canggu, Bali, on November 8, accompanied by an unknown woman. While the images have not been published, the source claims that Davies attempted to conceal his identity when he suspected recognition and looked “alive, well, and happy” in a signature pink collared shirt and sunglasses.
Davies’ co-founder, Su Zhu, was arrested in Singapore on September 29 as he attempted to flee the country. Both founders had reportedly spent months in Bali instead of cooperating with bankruptcy proceedings in the United States and Singapore.
Davies has successfully evaded contempt charges in the U.S. related to the bankruptcy case, having renounced his American citizenship in 2022 after marrying a Singaporean national and obtaining citizenship in the country. The U.S. Bankruptcy Court for the Southern District of New York ruled that it could not exercise jurisdiction over Davies, suggesting that Singaporean courts may be involved in compelling his compliance.
The pending arrest and four-month sentence in Singapore stem from a committal order secured by the liquidator Teneo for contempt of court. Davies’ reported presence in Bali raises further questions about the challenges authorities face in apprehending individuals involved in financial misconduct and fleeing legal obligations.