8I Holdings Ltd (ASX:8IH)
, a Singaporean investments and training seminar business, has purchased all the management shares of the Hidden Champions Fund.
Hidden Champions is an Asia-Pacific investment fund, which was owned by Emerging India Fund Management Ltd.
The shares were sold at a par value of US$100.
The company says it acquired the Hidden Champions Fund for the purpose of gradually restructure the way in which 8I’s listed securities are held. In particular, it plans to open the fund up to new investors once the appropriate licenses and approvals are obtained.
Hidden Champions will be seeded by 8IH Global, and is expected to house the listed investment securities of the company and its subsidiaries.
8I Holdings posted a net profit of $18.2 million at 31 March 2016.