Insights | Maso Capital

Despicable FIRB ploy undermines Chalmers’ foreign investment pitch

Treasurer Jim Chalmers should stand up to a despicable private-equity bully for the sake of foreign investment into Australia.

If Chalmers wants “Australia to be the destination where global investment flows first and grows fastest”, as he said on Friday morning, he needs to remember it takes both sides of a deal to tango.

21st October 2025 | Australian Financial Review

Justice Black’s MAC attack should cut the bulldust

Justice Ashley Black’s swift dismembering of a private equity-backed bidder’s desperate attempts to shirk its $672 million Australian acquisition will go down as one of the most significant rulings for M&A this decade.

20th October 2025 | Australian Financial Review

Blowout South Korea stock rally on a knife-edge over tax plans

Foreign investment flows into South Korean equities totalled $4.52bln in July, LSEG data showed - the fastest pace in almost a year and a half - as the prospect of corporate reforms and a trade deal with the Trump administration lured overseas money

7th August 2025 | Zawya

Blowout South Korea stock rally on a knife-edge over tax plans

South Korea's tax policies have thrown the outlook for Asia's best-performing major stock market into doubt, with investors assessing the impact of higher corporate tax and trading levies on the country's long-promised reforms.

6th August 2025 | Street Insider

Couche-Tard scraps $46 billion bid for Japan's Seven & i

"We are very disappointed in what appears to be a lack of willingness to engage from Seven & i," said Manoj Jain, co-founder and co-CIO of Hong Kong-based Maso Capital, a Seven & i shareholder.

"We believe there is significant value to be realised in a combination and have expressed this view to the management and the board."

17th July 2025 | Rueters

The art of (closing) the deal is a minefield for merger arb funds

“We anticipate increased levels of global M&A, including Australia, now that the tariff overhang appears to be dissipating – albeit with heightened geopolitical and competition risks associated with deals,” Manoj Jain, the co-chief investment officer of Hong Kong-based hedge fund Maso Capital, says.

22nd June 2025 | Australian Financial Review

Shares of Seven & i fall after report to reject Couche-Tard bid

“We are disappointed and surprised with the board’s lack of engagement,” said Manoj Jain, co-founder and Co-CIO of Hong Kong-based Maso Capital, which owns Seven & i shares. “Given the price offered, it’s clear that the board should engage.”

4th March 2025 | Reuters

Buyout Firms Chase Slice of Australia’s $2.5 Trillion Pensions

“The Australian market is unique globally given the structure of mandated employee contributions, which means by definition the industry has a natural tailwind which should mean year-over-year growth,” said Manoj Jain, co-founder and co-chief investment officer of hedge fund Maso Capital.

7th January 2025 | Bloomberg

Ramsay investors push for shake-up of ‘failed’ overseas expansion

Manoj Jain, chief investment officer at Hong Kong-based Maso Capital, said the disconnect between Ramsay's market value and the value of its assets left it prone to an opportunistic takeover and needed to be addressed imminently. Wesfarmers is among potential suitors to take a close look.

25th November 2024 | Financial Review

Couche-Tard asks 7-Eleven owner for talks after $38.5 bln offer rejected

“Based on the response from Couche-Tard it would appear there is scope for a higher offer, and this will be required to get the Seven & I board to engage further,” said Manoj Jain, founder and co-chief investment officer at Maso Capital, a shareholder in Seven & i.

9th September 2024 | Reuters

Why retail giant 7-Eleven is on a rival’s shopping list

Along with the weakness of the yen, efforts by the Japanese government to promote mergers and acquisitions appear to be working”, said Manoj Jain from Hong Kong-based hedge fund Maso Capital.

21st August 2024 | BBC

Canada’s Couche-Tard makes preliminary takeover bid for Japan’s Seven & i

This is another example of the attractiveness of the Japanese market for offshore buyers,” said Manoj Jain, co-founder and Co-CIO of Hong Kong-based Maso Capital.

19th August 2024 | Reuters

Bidders having it both ways with ‘best and final’ threats

Manoj Jain, partner and co-chief investment officer at Maso Capital, shares his expertise on the art of ‘best and final’ statements in M&A deals, offering invaluable guidance for investors navigating these complexities. His insights are featured in The Australian Financial Review.

1st August 2024 | Australian Financial Review

Shareholders ask China’s Hollysys to set special meeting amid takeover frustration

Maso Capital, alongside other investors, has requested a special shareholder meeting for Hollysys Automation Technologies due to frustrations with management’s handling of takeover bids. Reported by Reuters.

1st July 2023 | Reuters

Duddell Street Acquisition Corp. and FiscalNote Complete Business Combination

Maso Capital proudly celebrates the successful business combination of Duddell Street Acquisition Corp. and FiscalNote. As a major sponsor of Duddell Street, Maso Capital played a key role in the strategic merger and is excited to see FiscalNote’s public debut on the NYSE. Manoj Jain, CEO of Duddell Street and Co-Chief Investment Officer of Maso Capital, has expressed strong confidence in FiscalNote’s promising future.

19th July 2022 | PR Newsire/ FiscalNote

Investors seek JP Morgan documents over Jardine Matheson buyout lawsuit

Maso Capital is among investors seeking JPMorgan documents related to the Jardine Matheson buyout. The lawsuit focuses on the privatization of Jardine Strategic Holdings, with investors scrutinizing the bank’s advisory role in the deal. Reported by The Standard.

16th June 2022 | The Standard

Aust Unity office fund merger torpedoed by its investors

Maso Capital, among other major investors, rejected Australian Unity’s merger proposal due to concerns over diversifying into smaller retail assets and an unappealing merger ratio. Reported by The Australian Financial Review.

17th January 2022 | The Australian Financial Review

Risks and rewards: How Maso Capital’s pioneering Asia-Pacific event driven focus is paying off

Maso Capital, an event driven and convertible arbitrage-focused hedge fund based in Hong Kong, was established in 2012 by Manoj Jain and Sohit Khurana, who previously managed money for Och-Ziff’s Asia-focused strategies.

6th December 2021 | Hedgeweek

Lending platform Kredivo to go public via $2.5 bln SPAC merger

Maso Capital among other investers in the $120 million private placement as FinAccel agrees to go public through a merger with VPC Impact Acquisition Holdings II, valuing Kredivo at $2.5 billion. Reported by Reuters.

2nd August 2021 | Reuters

Growing Acceptance for SPACs Seen, Maso Capital Says

Manoj Jain, partner and co-chief investment officer at Maso Capital, shares his insights on the future of special purpose acquisition companies (SPACs) during the annual Sohn Hong Kong Investment Leaders Conference, in an interview with Sophie Kamaruddin on “Bloomberg Markets: Asia.”

19th May 2021 | Bloomberg

Metlifecare investor ramps up pressure on chairman, requests spill

Maso Capital, a significant Metlifecare shareholder, has formally requested the removal of chairman Kim Ellis. This action comes alongside Metlifecare’s engagement with EQT Infrastructure on a revised $1.28 billion takeover offer. Despite the renewed takeover discussions, Maso Capital maintains its position to ensure strong board accountability. Reported by The Australian Financial Review.

6th July 2020 | Australian Financial Review

Paladin Energy: Shareholder Cooperation Agreement Termination

“The Company views the termination of the cooperation agreement between Paradice and Maso as a sign of confidence in the changes made to the Company’s Board and Executive team over the last six months and the continuing development of our future plans”. Paladin Chairman, Cliff Lawrenson

3rd April 2020 | Marketscreener

See More M&A Activity in 2020: Maso Capital’s Jain

Manoj Jain, partner and co-chief investment officer at Maso Capital, discusses the recent wave of M&A this week and his outlook for the sector. He speaks on "Bloomberg Markets: Asia."

27th November 2019 | Bloomberg

Perennial urges Gateway Lifestyle to open its books to suitor Hometown America

Perennial urges Gateway Lifestyle to open its books to suitor Hometown America MASO Capital is among the institutional investors backing Hometown America's $635 million takeover bid for Gateway Lifestyle. Reported by The Australian Financial Review

14th June 2018 | Australian Financial Review

Cayman lawsuits challenge valuations of delisted Chinese companies

Cayman Islands Grand Court grants Maso Capital's petition to seek the liquidation up o Chinese US listed company Bona Film because they believe it "has made a conscious decision to attempt to put assets out of the reach of the company such that any judgment obtained petitioners would be worthless".

17th February 2017 | Financial Times