Hedge fund ceases to be substantial unitholder of AIMS APAC REIT

AIMS APAC REIT, or AA REIT, industrial warehouse at 20 Gul WayAIMS APAC REIT, or AA REIT, industrial warehouse at 20 Gul Way

The Segantii Asia-Pacific Equity Multi-Strategy Fund ceased to be a substantial unitholder of AIMS APAC REIT, Segantii Capital Management said in a filing to SGX Wednesday, just one day after reporting the hedge fund’s stake had risen above the 5 percent threshold.

The hedge fund’s direct interest fell to 4.9997 percent from 5.0021 percent, after the sale of 16,500 units for S$22,770 in a market transaction, the filing to SGX Wednesday 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 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 to SGX, UBS Group said its deemed interest in AIMS APAC REIT fell to 5.63 percent from 6.13 percent after the disposal of 3.51 million units for S$4.84 million in a market transaction.

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