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

Fuji Soft (9749) - As Bain Prepares to Go Higher, KKR Goes Lower

Fuji Soft (9749) - KKR Launches Early to Stymy Bain Who Has a Founding Family Tailwind

Quiddity Advisors

Event-Driven

<ul>
<li>On 8 August, KKR and <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 a Tender Offer for the company. It was, at the time, an intention to do so. KKR needed approvals.</li>
<li>Fuji Soft had KKR terms, and timing, and approved them. KKR then changed the terms and timing. Now on the 19th, they changed the terms again. </li>
<li>This puts Fuji Soft in a kind of quandary. It's important to think about why and what that leads to.</li>
</ul>


On 8 August, KKR and Fuji Soft Inc (9749 JP) announced a Tender Offer for the company. It was, at the time, an intention to do so. KKR needed approvals.
Fuji Soft had KKR terms, and timing, and approved them. KKR then changed the terms and timing. Now on the 19th, they changed the terms again. 
This puts Fuji Soft in a kind of quandary. It's important to think about why and what that leads to.


Fuji Soft (9749) - Possible Issues with New KKR Amended Terms