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

Quiddity Advisors

Event-Driven

<ul>
<li>In early August 2025, there was an article in Bloomberg suggesting <a href="https://www.smartkarma.com/entities/yomeishu-seizo-co-ltd" target="_blank" data-smartkarma-citation="entities:6904:1" rel="noopener">Yomeishu Seizo (2540 JP)</a> was considering going private. The company confirmed it was considering various corporate value enhancement measures.</li>
<li>In early October the firm lowered guidance. On 30 December 2025 pre-open, there was an article suggesting KKR had won preferred negotiating rights for a January TOB. The stock popped. </li>
<li>Post- close, the company said that lead shareholder Yuzawa had no intention of selling, but was interested in a privatisation at a price higher than KKR's below-market bid. We wait.</li>
</ul>


In early August 2025, there was an article in Bloomberg suggesting Yomeishu Seizo (2540 JP) was considering going private. The company confirmed it was considering various corporate value enhancement measures.
In early October the firm lowered guidance. On 30 December 2025 pre-open, there was an article suggesting KKR had won preferred negotiating rights for a January TOB. The stock popped. 
Post- close, the company said that lead shareholder Yuzawa had no intention of selling, but was interested in a privatisation at a price higher than KKR's below-market bid. We wait.


[Japan M&A] Asset-Rich Earnings-Poor Yomeishu Seizo (2540) - Falling Back To Earth