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

ORIX JREIT (8954) Sponsor To Buy Units - Looks Minor, It's Bigger

Mori Hills REIT (3234) - Large Sponsor Buy in Market as % of Max Real World Float

Hankyu Hanshin REIT (8977) - Good Fundamental News, a Bigly Buyback, and Cascading Flows to Come

3D Launches Partial Tender Offer on Hankyu Hanshin REIT (8977)

3D Launches Partial Tender Offer on NTT UD REIT (8956)

Quiddity Advisors

Event-Driven

<ul>
<li>Today, <a href="https://www.smartkarma.com/entities/tokyu-corp" target="_blank" data-smartkarma-citation="entities:3357:1" rel="noopener">Tokyu Corp (9005 JP)</a> announced it would increase its stake its family REIT, buying up to 48,880 units or 5.0% of units out over the next six months.</li>
<li>This comes a couple of days after Hankyu Hanshin announced the same for its REIT, discussed <a href="https://www.smartkarma.com/insights/hankyu-hanshin-reit-8977-good-fundamental-news-a-bigly-buyback-and-cascading-flows-to-come" target="_blank" rel="noopener">here</a>. Others have done so before. Tokyu has. Others will do so going forward. </li>
<li>The main reason? Squeeze the 'share' price higher. Get the REIT to 1.0x PNAV then stuff it with sponsor-held properties. That's not bad. The goal is a higher price.</li>
</ul>


Today, Tokyu Corp (9005 JP) announced it would increase its stake its family REIT, buying up to 48,880 units or 5.0% of units out over the next six months.
This comes a couple of days after Hankyu Hanshin announced the same for its REIT, discussed here. Others have done so before. Tokyu has. Others will do so going forward. 
The main reason? Squeeze the 'share' price higher. Get the REIT to 1.0x PNAV then stuff it with sponsor-held properties. That's not bad. The goal is a higher price.


東急コーポレーション（9005）が東急リート（8957）の株式を再度取得へ - 想像以上に大きい

Tokyu Reit Inc

東急コーポレーション（9005）が東急リート（8957）の株式を再度取得へ - 想像以上に大きい