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>
<a href="https://www.smartkarma.com/entities/naigai-trans-line-ltd" target="_blank" data-smartkarma-citation="entities:8938:1" rel="noopener">Naigai Trans Line (9384 JP)</a> is a small logistics provider. They specialise in LCL ("Less-Than-Container-Load" shipments around Asia. </li>
<li>On 7 March 2025, the company agreed to a buyout via Tender Offer by IAPF2 - a buyout vehicle of IA Partners - a 3yr old PE firm in Japan.</li>
<li>This is 5.9x EBITDA. There's minimal transparency. No guidance. The PE firm is putting down an equity check of 2x EBITDA and 4x earnings. But it'll probably get done.</li>
</ul>



Naigai Trans Line (9384 JP) is a small logistics provider. They specialise in LCL ("Less-Than-Container-Load" shipments around Asia. 
On 7 March 2025, the company agreed to a buyout via Tender Offer by IAPF2 - a buyout vehicle of IA Partners - a 3yr old PE firm in Japan.
This is 5.9x EBITDA. There's minimal transparency. No guidance. The PE firm is putting down an equity check of 2x EBITDA and 4x earnings. But it'll probably get done.


NaiGai Trans (9384 JP) - Small LCL Shipping Founder Gets an Exit