Cheryl Cheng, CPA, CFA
Verified Expert in Finance
Cheryl is a seasoned full-stack financial advisor who supported $5 billion in fundraising (debt/equity financing, venture/growth/PE financing), closed $20 billion in transactions (financial analysis, modeling, due diligence), and prepared companies for audit/IPO readiness. She held roles in advisory and audit practices at Tier-1 accounting firms and corporate development at a Fortune 500 company. Cheryl enjoys working with entrepreneurs and founders to grow their vision into a thriving business.
- Closed acquisition of $3 billion midstream assets (including processing facilities and pipelines/storages/terminals) in Western Canada. Performed credit rating and market benchmarking analysis in support of $1 billion debt financing.
- Performed independent valuation of a $2 billion PPP portfolio consisting of data infrastructures, transportation assets, education, and healthcare facilities in North America in support of litigation disputes for loss recovery.
- Developed valuation framework based on industry best practices to improve governance and efficiency by 250%. Developed valuation models for $250 million-$1 billion private equity investments, $100-$250 million private debt positions, and $250 million-$1 billion PPP assets.
- Closed acquisition of $500 million hotel and casino property in Las Vegas. Performed financial analysis supporting a $150 million revitalization plan, which resulted in a 200% increase in asset value in three years.
- Closed a $1 billion acquisition of an AI-driven medical claims recovery company by leading a team of data scientists and lawyers to perform due diligence on the assets; target MOC of 3x in ten years.
- Advised executives of a biotech company on structuring $300 million Series C to provide funding for clinical trials and allow the option for purchase upon FDA approval; expedited clinical trial and commercial use within a 24-month period.
- Performed valuation of $3 billion loan portfolio and $1 billion derivative portfolio for regulatory review at a time of liquidity run-off; assisted executives in defending capital adequacy assertions and prevented regulatory sanction and take-over.
- Closed a $5 billion M&A between an investment manager and a distressed credit lender. Performed financial due diligence and supported post-transaction integration. Boosted acquirer's net asset by 50% and share price increased by 50% in 12 months.
- Performed model validations and valuation review on derivative products of Schedule I banks, covering futures/forwards, options, swaps, structured notes. Audited model logic and mechanical accuracy of models.
- Led the audit of a $100 billion Schedule-I bank with off-shore teams. Assessed SOX compliance by testing hundreds of controls and designing remediation plans to address control weaknesses. Opined on technical accounting issues and reporting requirements.
- Led the audit of Richardson GMP’s $250 million acquisition of Macquarie Private Wealth. Reviewed the consolidation of accounts and purchase price allocation and designed and executed a test of controls on both sets of reporting systems.
- Led the audit of various $1-$5 billion Schedule-II banks with a focus on loan loss allowance. Leveraged the off-shore team to increase efficiency by 50% by a reduced timeline of 30%.
Analyst, Corporate Development
Evergrande Real Estate Group China
- Closed IPO at the HKSE and raised $800 million in equity with 10x oversubscription. Collaborated with bankers, lawyers, and auditors in completing the underwriting and due diligence process. Prepared investor presentations and roadshow materials.
- Issued a high yield bond and raised $1 billion to fund an expansion plan outreaching to 50 new projects. Prepared financial materials in support of the underwriting and credit rating process and managed creditor relationships post-closing.
- Negotiated the restructuring of $1.5 billion debt to PIK payment and extension of maturity, resolved liquidity crunch that could be lethal.
Master's Degree in Management and Professional Accounting
University of Toronto - Toronto, Ontario, Canada
Bachelor's Degree in Business Administration
Simon Fraser University - Vancouver, British Columbia, Canada