Hedge Fund Effissimo May Reap $768 Million From Toshiba Buyout

Effissimo Capital Management Pte may make close to ¥100 billion ($768 million) from Toshiba Corp.’s buyout, with the value of the activist fund’s shares roughly doubling since it disclosed a stake in 2017.

Toshiba accepted a ¥4,620 a share offer Thursday from a Japanese consortium led by a domestic private equity fund, a move that may end a troubled chapter in the firm’s history.

Effissimo is the company’s largest stock holder with a 9.9% stake. Exactly how much it paid for the shares isn’t known, but the average cost is estimated to be about ¥2,330 a share, according to ...