Mr. Tsung brings over 10 years of hands on executive management. Mr. Tsung operated and grew AppCrown LLC between 2010-2015, adding over 4,000 advisors processing over $150 billion of AUM per day.
Since 2006, Franklin has operated as an independent deal professional. His first transaction was with Redding Bank & Deutsche Bank during the financial crises, creating a whole loan arbitrage between FDIC institutions and wall street trading desks. He accomplished a substantial asset swap that ensured the survival of Redding Bank.
It was during this time that Franklin was attracted to deal making in its purist form; being an independent sponsor.
Purpose Meets Performance
Why create BlackCrown?
I realized there is another area within private equity that is unexplored; the independent sponsor model. Candidly, this is a difficult model and certainly not for the meek. It’s difficult to build executive networks, LP relationships, investment banker relationships, and credit relationships to put together an independent buyout within the time frame of the seller (and their bankers). However, this being said, once you have developed the networks and can move quickly - you’ve developed an immense operating model that is truly differentiated.
Who will Benefit?
Our LP’s and credit partners. LP’s are not strictly limited to family offices but may also include traditional private equity funds. We believe in flexibility and creating enough spread in the return model and multiples arbitrage, that the economics work well for everyone.
How is this Different?
We aren’t under pressure to transact nor have to be concerned regarding fund raising. Our sole focus is on deal sourcing and developing the appropriate industry economic thesis and industry investment thesis to act upon. We are 100% dedicated to maximizing LP returns, and zero percent focused on fundraising.
Notable Industry Highlights on Historical Role as an Operator/Owner
The following highlights industry acknowledgement of AppCrown and its success.