Arisaig Partners (Arisaig) have further trimmed their stake in HK-listed Convenience Retail Asia Ltd. (Convenience Retail). According to a filing submitted to the Hong Kong Stock Exchange on October 17th, 2017, the firm sold 3,320,000 shares on the exchange at an average price of HKD 3.80 per share on October 16th (the total consideration was ~US$1.6m). Following the sale of shares, Arisaig’s stake in Convenience Retail decreased from 7.23% to 6.79% of the company’s shares outstanding.

Convenience Retail is a listed retailing member of the Fung Group (formerly the Li & Fung Group). The company operates approximately 600 retail stores under the Circle K and the Saint Honore Cake Shop brands in Hong Kong, Macau and the Pearl River Delta.

Arisaig is an independent investment management firm founded in 1996. They focus on dominant consumer sector businesses in emerging markets. Their flagship, long-only Arisaig Asia Consumer Fund has ~US$3bn in assets under management and has compounded capital at a low-teens rate of return since inception.