A former investment analyst at Seth Fischer’s activist hedge fund Oasis Management is preparing an event-driven activist fund.

Takuya Shigaki, who established Lone Alpha Capital Management in July, spent a year at Hong Kong-based Oasis conducting qualitative and quantitative primary research. His activist fund

A source familiar with Shigaki’s initiative said the Singapore-based outfit received seeding capital and will target Japanese companies across all sectors. Besides Shigaki, the firm has hired an investment professional and a Japanese lawyer.

Activist investing across Asia-Pacific has been little more than a cottage industry in recent times. Yet, both well-known international and local activist investors are becoming more prominent, taking advantage of the fast-paced changes taking place in Asia’s listed markets.

US hedge fund titans such as King Street Capital Management and Elliot Management have set their sights on some of Asia’s largest companies this year, targeting Japan’s Toshiba and South Korea’s Hyundai, respectively. Daniel Loeb’s hedge fund Third Point has targeted several companies in Japan, including retailer Seven & i.

“Activists are in Japan over other nations in Asia as it’s cheap, the government wants better governance, and there are plenty of companies that can be improved,” Seth Fischer, founder and chief investment officer of Oasis., previously told AsiaHedge.

He addded that elsewhere in the region activism is more difficult as there is a valuation trade off. “People are willing to own stocks despite poor governance due to a company’s growth and that’s keeping valuations high in certain markets,” says Fischer.

Before Oasis, Shigaki worked at Goldman Sachs in Tokyo and left in 2017 as vice president in the TMT investment banking team. He also worked for Goldman in San Francisco where he sourced and executed M&A and financing transactions involving technology companies in the West Coast. Shigaki started his career eight years ago in Tokyo as an analyst at JPMorgan’s investment banking team.

Ex-Oasis analyst launches activist fund on AsiaHedge.