Entry into Binding Agreement for Acquisition of East Point Asset Management
Regal Partners is pleased to announce its entry into binding agreements to acquire 100% of the issued share capital of Hong Kong based alternative investment manager East Point Asset Management, investment manager of the East Point Asset Management Master Fund.
The fund manages approximately USD $100 million in capital, utilising a fundamental, high conviction, long short Asian equities strategy, which aims to provide investors with strong, risk-adjusted absolute returns through investments in companies with exposure to the Asia-Pacific region.
The fund is managed by East Point Asset Management Founder and CIO Simon Walsh, who, together with a small team, will join Regal as employees upon completion of the acquisition. The transaction is conditional on the receipt of customary regulatory from the Hong Kong Securities and Futures Commission.
The transaction will involve the issuance of 788,195 RPL shares, subject to escrow arrangements, as well as additional deferred consideration if certain conditions are met, to the offshore-based institutional seed investor, Sun Hung Kai Strategic Capital Limited as consideration for the transfer of revenue share rights to Regal.
More information about the proposed acquisition of East Point Asset Management will be included in Regal’s announcement of its results for the year ended 31 December 2022, which Regal expects to release to the ASX on 24 February 2023.