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Three Arrows Paper Trail Leads to Trading Desk Obscured Via Offshore Entities

While Three Arrows Capital used its tens of billions of dollars of assets under management to invest in new projects and take large market positions, it also operated an over-the-counter trading desk called Tai Ping Shan (TPS) Capital. The entity was once described on LinkedIn as “the official OTC desk of Three Arrows Capital,” according to a scraped version of the site by Google, but the language has since been changed, distancing the two firms.