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] - Effissimo Keeps Buying Pacific Industrial (7250) Above New Terms

[Japan M&A] Pacific Industrial (7250) MBO Officially Being Done Dirt Cheap

[Japan M&A] Nikkei Reports Pacific Industrial (7250) To Go Private Via MBO at ¥110bn

[Japan M&A] Pacific Industrial (7250) The MBO Is Extended After Effissimo Buys Above Terms

Quiddity Advisors

Event-Driven

<ul>
<li>When the <a href="https://www.smartkarma.com/entities/pacific-industrial-co-ltd" target="_blank" data-smartkarma-citation="entities:6261:1" rel="noopener">Pacific Industrial (7250 JP)</a> deal was announced in late July, I said it needed to be done 20-40% higher. I hadn't expected someone to push so hard. </li>
<li>But Effissimo pushed. They bought 12.5% of shares out, and 13+% of votes at an average price of ¥2,365/share - 15% through terms.</li>
<li>Three months later after multiple extensions, Bidco bid up. +42.4%, to 1.002x March 2025 BVPS. A raging win for activists and minority investors. I'm genuinely surprised by the quantum.</li>
</ul>


When the Pacific Industrial (7250 JP) deal was announced in late July, I said it needed to be done 20-40% higher. I hadn't expected someone to push so hard. 
But Effissimo pushed. They bought 12.5% of shares out, and 13+% of votes at an average price of ¥2,365/share - 15% through terms.
Three months later after multiple extensions, Bidco bid up. +42.4%, to 1.002x March 2025 BVPS. A raging win for activists and minority investors. I'm genuinely surprised by the quantum.


[Japan M&A/Activism] - Activism Wins as MBO Bidder Pays 42.4% More for Pacific Industrial (7250 JP)