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/payroll-inc" target="_blank" data-smartkarma-citation="entities:33434:1" rel="noopener">Payroll (4489 JP)</a> today announced that it would go private in a deal led by US PE Firm TA Associates (Japan office led by a former Carlyle person it appears).</li>
<li>Payroll IPOed in June 2021 at ¥1,380. Then it fell. Now this takeout is at ¥1,380/share. Not a great look but not egregiously unfair by the looks of it. </li>
<li>This deal is going to get done easily as agreed participants and probable-friendlies get them past the minimum without retail or foreign holders participating.</li>
</ul>



Payroll (4489 JP) today announced that it would go private in a deal led by US PE Firm TA Associates (Japan office led by a former Carlyle person it appears).
Payroll IPOed in June 2021 at ¥1,380. Then it fell. Now this takeout is at ¥1,380/share. Not a great look but not egregiously unfair by the looks of it. 
This deal is going to get done easily as agreed participants and probable-friendlies get them past the minimum without retail or foreign holders participating.


Payroll (4489 JP) MBO (¥1,380/Share) By New Japan PE Deal Entrant TA Associates