1835 Capital sells out of RCC Fringe

Announcement posted by Keneally Consulting 10 Apr 2019

The investment firm that acquired the assets of the Royal Croquet Club from its administrators in 2018, in the lead up to the Adelaide Fringe season has announced that they have sold out of the business.

Managing Director of 1835 Capital, Jason Di Iulio, announced that on 30 January, 2019, the firm sold all of its interests in, what is now known as RCC Fringe, to a consortium led by Roberto Cardone, who was also the COO of RCC Fringe.

"Our work here was done, and it was time to let the creatives run with it from here," said Mr Jason Di Iulio, Managing Director 1835 Capital.

"We saw our role in RCC Fringe, given its previous history, as one of bringing strict management and financial controls in addition to the capital required to acquire the assets from the Administrators and to operate the business.

"Not only have we delivered that outcome, but we have negotiated the relocation of RCC Fringe, from Pinky Flat to The University of Adelaide, on a long term agreement.

"The past twelve months have been amazing for all involved, and it is now with the new owners to continue to build on the successes that have been delivered to date.

"What we have delivered in a very short space of time has been extraordinary and a testament to all involved." Mr Di Iulio concluded.

Effective from the sale date 1835 Capital and Mr Di Iulio will have no further involvement in RCC Fringe.