Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Carlyle has agreed to do an MBO on <a href="https://www.smartkarma.com/entities/iwasaki-electric-co-ltd" target="_blank" data-smartkarma-citation="entities:13072:1" rel="noopener">Iwasaki Electric (6924 JP)</a> where the existing CEO who is 65yrs old will take a 0.5% stake.</li>
<li>As a purveyor of specialist industrial lighting, including transition to LED lighting for public space use, the company's place in the ecosystem is not undesirable. But it isn't hugely profitable.</li>
<li>This smallcap takeout at an 86% premium is probably still too light. And the Shareholder Structure is interesting.</li>
</ul>


Carlyle has agreed to do an MBO on Iwasaki Electric (6924 JP) where the existing CEO who is 65yrs old will take a 0.5% stake.
As a purveyor of specialist industrial lighting, including transition to LED lighting for public space use, the company's place in the ecosystem is not undesirable. But it isn't hugely profitable.
This smallcap takeout at an 86% premium is probably still too light. And the Shareholder Structure is interesting.


Carlyle 86% Premium ¥4460 TOB on Iwasaki Elec - Probably Light, and Interesting Shareholder Register