Three Waters Financial

Three Waters Financial

Three Waters Financial serves as the private investment office for the Cuervo family, whose name became synonymous with tequila over two centuries. The family's controlling stake in Jose Cuervo — the largest tequila producer globally until its 2018 IPO — formed the bulk of the liquidity that now runs through the Miami-based office. The office takes its name from a direct reference to the distilling process, signaling an investment identity still rooted in operational knowledge of the spirits trade. The office runs a concentrated strategy split between direct real estate and control-oriented consumer equity. The real estate book is South Florida-heavy, with a known preference for luxury waterfront residential and retail, an allocation consistent with the family's long-standing ties to the region and tequila's deep integration into hospitality culture. A signature holding is the Cuervo Surfcomber hotel on Miami Beach, acquired by the family in 2013 and repositioned as a branded lifestyle asset that blurred the line between operating business and trophy property. The consumer portfolio tilts toward luxury and experiential brands, often with a crossover into the same hospitality and entertainment venues that serve as critical points of distribution for the core tequila business. The Cuervo family's investment activities are private by design. The office does not publish its level of deployment, and no fund vehicles are marketed to outside capital. In September 2024, the family was outbid for control of Australia's Casella Family Brands, the producer of Yellow Tail wine, a move that signaled both the scale of ambition and the disciplined price ceilings the family adheres to in consumer deals. The office's lean structure, largely staffed through the family's existing holding company, reflects a preference for principal-to-principal transactions rather than institutional intermediation. Structurally, Three Waters Financial is the latest chapter in a 260-year family enterprise built on a rare combination of brand, distribution, and agricultural supply chain assets. It is not a diversified allocator — it is a sector-concentrated, directly engaged family office that looks more like a hybrid operating-holding structure than a fund manager. The connection between the active spirits business and the investment book is unusually tight; real estate and consumer deals are evaluated for their compounding effect on the family's overall presence in the global nightlife, luxury, and hospitality ecosystem.