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Japan,United Kingdom,United States : StormHarbour buys 49% in JAPAN-based ASUKA ASSET MANAGEMENT

June 28, 2014



StormHarbour Securities announced the buyout of 49% stake in Japanese hedge fund manager Asuka Asset Management, to become full scale Asian asset management.

The company has not revealed the financial details of the transaction.

Founded in March 2009 by Antonio Cacorino and Fredrick Chapey, StormHarbour is an investment bank has branches in seven cities across the globe and comprises about 170 professional employees.

This transaction will enable Asuka to utilise StormHarbour s global network and gain access to a wide range of foreign investors and Asuka Asset Management will issue new shares through third-party allotment, all of which will be purchased by StormHarbour Capital Advisors UK Ltd, a company owned by StormHarbour Partners LP.

Consequently, the make-up of its shareholders will be: 51% owned by Asuka Holdings Co Ltd and 49% owned by StormHarbour Capital Advisors UK Ltd.Asuka Holdings Co Ltd is currently 100 per cent owned by Mamoru Taniya, however Toshihiro Hirao plans to acquire shares to own 20 per cent of the company in the near future.

On the other hand, Taniya and Hirao will buy a portion of StormHarbour Partners LP s partnership interest and StormHarbour Partners GP LLC s membership interest.

Aat the same time, Taniya will serve as StormHarbour s managing principal and take charge of its asset management business. In addition, Asuka is to appoint two directors nominated by StormHarbour Cacorino as representative director and Michimasa Naka. Naka is managing principal of StormHarbour and CEO of StormHarbour Japan Ltd. Asuka will also hire Akio Kawamura, a Japanese attorney and auditor of StormHarbour Japan Ltd, as a new auditor.

Taniya continues as Asuka Opportunities Fund s investment manager and Hirao as the chief investment officer.


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Source: TendersInfo (India)


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