Nissan Surges Most Since 2009 as Activist Fund Takes Stake (3)

Nissan Motor Co. shares jumped the most in 15 years after an activist investor took a 2.5% stake in the embattled Japanese automaker.

Suntera (Cayman) Ltd., a trustee of ECM Master Fund, was identified as the buyer of the stake in a filing by Nissan. ECM Master Fund was cited in past regulatory filings as being managed by Effissimo Capital Management Pte, a Singapore-based hedge fund that buys into distressed companies.

Effissimo controls the stake, a person with knowledge of the matter said. The fund is best known for taking on Japan’s Toshiba Corp. in a landmark moment for ...