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

[Japan M&A/Activism] SOFT99 MBO Sees Activist EffissimoOverbid by 66%! Will This Set New Precedent?

[Japan M&A/Activism] The Nagging Little Detail In the Soft99 MBO Extension Target Doc

[Japan M&A/Activism] Soft99 Board Comes Out Against Effissimo Bid 66% Above MBO Price

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/soft99-corp" target="_blank" data-smartkarma-citation="entities:18486:1" rel="noopener">Soft99 Corp (4464 JP)</a> is the owner/operator of a set of ubiquitous brands in aftermarket autocare. Anything to do with washing, cleaning, etc. </li>
<li>The company was founded 70 years ago, and the CEO is 54yrs old. Smells like succession planning. </li>
<li>This deal is a nice premium, but it is too light. The operating assets with consistent growth and 20% OPMs are being sold at &lt;0.9x book. That's bad.</li>
</ul>



Soft99 Corp (4464 JP) is the owner/operator of a set of ubiquitous brands in aftermarket autocare. Anything to do with washing, cleaning, etc. 
The company was founded 70 years ago, and the CEO is 54yrs old. Smells like succession planning. 
This deal is a nice premium, but it is too light. The operating assets with consistent growth and 20% OPMs are being sold at &lt;0.9x book. That's bad.


[Japan M&A] 99Soft MBO at 52% Premium Is Too Light But A Bump May Be Tough