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

Bain Waiting Patiently for Fuji Soft (9749) To Make Up Its Mind

FujiSoft (9749) - Somewhat Inexplicable Renewed Opinion of Fairness on KKR Tender

Fuji Soft (9749 JP) - The Fine Print Is Worth Reading

Fuji Soft (9749) Reiterates Support for KKR Tender#1, Recos Shareholders Wait, Ignores Nozawa Letter

Quiddity Advisors

Event-Driven

<ul>
<li>On Friday 15 November, KKR <a href="https://media.kkr.com/news-details/?news_id=26de0602-31f5-4d37-9fd2-719e850dbe91&amp;type=1" target="_blank" rel="noopener">announced</a> it would launch KKR Tender2 to buy the rest of FujiSoft not purchased in KKR Tender1. Their new price is ¥1 higher than Bain's.</li>
<li>
<a href="https://www.smartkarma.com/entities/fuji-soft-inc" target="_blank" data-smartkarma-citation="entities:17504:1" rel="noopener">Fuji Soft Inc (9749 JP)</a> announced (J) it <a href="https://www.fsi.co.jp/company/news/2024/20241115_1.pdf" target="_blank" rel="noopener">supported the KKR2 Tender</a> and rejected the Bain TOB Proposal. KKR1 shareholders are "made whole" at ¥9,451/share. Minimum is 53.22%.</li>
<li>The document, however, is a Governance Disaster - an absolute shambles, effectively gaslighting investors at every turn. And now investors can see it was problematic from the start.</li>
</ul>


On Friday 15 November, KKR announced it would launch KKR Tender2 to buy the rest of FujiSoft not purchased in KKR Tender1. Their new price is ¥1 higher than Bain's.

Fuji Soft Inc (9749 JP) announced (J) it supported the KKR2 Tender and rejected the Bain TOB Proposal. KKR1 shareholders are "made whole" at ¥9,451/share. Minimum is 53.22%.
The document, however, is a Governance Disaster - an absolute shambles, effectively gaslighting investors at every turn. And now investors can see it was problematic from the start.


Fuji Soft (9749): KKR To Launch at ¥9,451, Fuji Soft REJECTS Bain's Bid - Governance in Shambles