US-registered investment adviser Kabouter Management LLC has acquired 2,576,000 units of Singapore-listed Ascendas India Trust (SGX:CY6U).

The units were acquired through funds managed by Kabouter for SGD2,368,116.80 on 1 April via a market transaction. This translates to a price paid of approximately SGD0.92 per unit.

According to information retrieved from the firm’s website, Kabouter Management invests in non-US smaller cap companies on behalf of family offices and institutions. The firm was founded in 2003 and registered with the US Securities and Exchange Commission since 2010.

With the acquisition, Kabouter Management now has a deemed interest of 55.35 million units of Ascendas India Trust, representing a stake of 6.01% from 5.73% previously.

Units of Ascendas India Trust last changed hands at SGD0.92 on the Singapore Exchange.