Lazard Asset Management LLC (Lazard) recently reduced their stake in HK-listed First Pacific Company Limited (First Pacific). According to a filing submitted to the Hong Kong Stock Exchange on September 7th, 2017, the firm sold 3,364,000 shares on the exchange at an average price of HKD 5.78 per share on September 1st (total consideration was ~US$2.5m). Following the sale, Lazard’s stake in First Pacific decreased from 5.81% to 5.74%.

First Pacific is a Hong Kong-based investment management and holding company with its primary operations located across the Asia-Pacific region. The company’s principal business interests relate to consumer food products, infrastructure, natural resources and telecommunications. You can read more about the company’s history here.

Lazard’s asset management arm manages ~US$201.4bn of assets (as of June 30th, 2017) around the world, across a broad spectrum of asset classes. Their traditional and alternative investment services cover listed equity and fixed income investments in a wide range of global, regional and country specific strategies for a wide range of clients.