Goldman Sachs funds sell shares in Accordia Golf Trust

Plastic sushi keychains at Japan-based DaisoPlastic sushi keychains at Japan-based Daiso

Goldman Sachs Group ceased to be a substantial shareholder in Accordia Golf Trust as its holding dropped below 5 percent after shares were sold in an off-market transaction, Goldman Sachs (Asia) said in an SGX filing on Tuesday.

Its deemed interest fell to 4.2211 percent from 12.2275 percent after the sale of 88 million shares for S$37.84 million, the filing said.

The Goldman Sachs Group is deemed interested in the remaining 46.39 million Accordia Golf Trust shares via the total direct holdings of its subsidiaries, Global Long Short Master Ireland Ltd., Oryza Capital Master Ltd., Goldman Sachs Credit Partners (Japan) Ltd. and Goldman Sachs International, the filing said.

The Global Long Short Master Ireland fund sold 54.63 million Accordia Golf Trust shares for S$23.49 million, it said in a separate SGX filing. That brought its direct interest to 0.2013 percent from 5.1717 percent previously, it said.

The group’s wholly owned subsidiary GS Investment Strategies saiw its deemed interest in Accordia Golf Trust fall to 0.3243 percent from 8.3307 percent due to the share sale, a separate filing to SGX said.

GS Investment Strategies has a deemed interest in Accordia Golf Trust via its managed funds Global Long Short Master Ireland and Oryza Capital Master, the filing said.

Last week, fund management firm Hibiki Path Advisors said it became a substantial shareholder of Accordia Golf Trust, acquiring 53 million shares of the Japanese golf course operator for S$22.79 million in an off-market transaction.

Get the Shenton Wire morning briefing in your inbox