First Eagle Investment Management (First Eagle) added to their stake in HK-listed Hysan Development (Hysan). According to a filing made to the Hong Kong Stock Exchange on April 3rd, 2017, the firm bought 212,000 shares on the exchange at an average price of HKD 35.331 per share on March 31st (total consideration was ~US$965,000). Following the purchase, their stake in Hysan increased from 4.98% to 5.00% of the company’s shares outstanding.

Hysan is a leading property investment, management and development company in Hong Kong, with a portfolio of more than 4 million square feet of high-quality office, retail and residential properties. The company operates primarily in the city’s prime retail/office district of Causeway Bay. Hysan is controlled by the (founding) Lee family and was listed on the Hong Kong Stock Exchange in 1981.

First Eagle is an independent investment firm with approximately US$105 bn in assets under management. They manage a number of investment funds including the First Eagle Global Fund, First Eagle Overseas Fund and First Eagle Fund of America. The firm was founded in Germany and moved its headquarters to New York City in 1937. The founding Arnhold family and key employees are the largest fee-paying investors across the First Eagle strategies.