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) - Much Better Governance Process But The Stock Has Run Too Far

Fujisoft Tender Offer for Listed Sub Cybernet (4312) - This Is Too Cheap

Quiddity Advisors

Event-Driven

<ul>
<li>Last year into early 2024, <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> - partially at the prodding of 3D Investment Partners - took in 4 subs and conducted a strategic review.</li>
<li>In January, I explored the situation <a href="https://www.smartkarma.com/insights/fuji-soft-9749-much-better-governance-process-but-the-stock-has-run-too-far" target="_blank" rel="noopener">here</a> suggesting the stock had run, FujiSoft needed to liquidate more assets, but a PE firm would look at a valuation of ¥600bn.</li>
<li>Last night, the Nikkei reported that US PE Firm KKR planned to take Fuji Soft private with a TOB valued at ¥600bn. Limit up will take us to ¥560bn+.</li>
</ul>


Last year into early 2024, Fuji Soft Inc (9749 JP) - partially at the prodding of 3D Investment Partners - took in 4 subs and conducted a strategic review.
In January, I explored the situation here suggesting the stock had run, FujiSoft needed to liquidate more assets, but a PE firm would look at a valuation of ¥600bn.
Last night, the Nikkei reported that US PE Firm KKR planned to take Fuji Soft private with a TOB valued at ¥600bn. Limit up will take us to ¥560bn+.


[JAPAN ACTIVISM] KKR Reportedly Plans Takeover of Fuji Soft (9749) - Relief from Activist Pressure