UPDATE: Hedge fund and UBS become AA REIT substantial unitholders

AIMS APAC REIT, or AA REIT, building at 51 Marsiling Road, Singapore, which is leased to Beyonics.AIMS APAC REIT, or AA REIT, building at 51 Marsiling Road, Singapore, which is leased to Beyonics.

This article was originally published on Tuesday, 22 October 2019 at 21:16 SGT; it has since been updated to include UBS.

The Segantii Asia-Pacific Equity Multi-Strategy Fund became a substantial unitholder of AIMS APAC REIT, with its direct interest rising to 5.238 percent from 2.655 percent previously, Segantii Capital Management said in a filing to SGX Tuesday.

That was after the acquisition of 18 million units for S$24.39 million in an off-market transaction, the filing said.

The Segantii Asia-Pacific Equity Multi-Strategy Fund is a hedge fund with around US$5.7 billion in assets and a minimum investment of US$1 million, according to data from PrivateFUNDData. The fund invests mainly in North Asia ex-Japan equity markets using relative value and event-driven strategies, according to Citywire.

Segantii Capital Management (Cayman) is deemed interested in the 5.238 percent stake as the hedge fund’s investment manager, giving it authority and discretion over the units, the filing said.

SCM (Cayman) is also the direct parent entity of Segantii Capital Management (SCML) and the indirect parent entity of Segantii Capital Management (UK), both of which are also deemed interested in the units, the filing said.

In addition, Simon Sadler and Kurt Ersoy are also deemed interested in the units as shareholders holding at least 20 percent each of SCM Cayman, the filing said.

In a separate filing, UBS Group AG said it became a substantial unitholder of AA REIT after the acquisition of 18 million units for S$24.39 million in a market transaction by a subsidiary or affiliate of the investment bank.

UBS Group’s deemed interest in the REIT increased to 6.18 percent from 3.59 percent previously, the filing said.

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