The rise, fall and rebirth of feared hedge fund VGI Partners
Known as much for its phenomenal success as its sudden demise, Rob Luciano's VGI Partners is officially no more. But the hedge fund's legacy lives on with a wave of alumni now gaining increased attention in the market.
VGI Partners is officially dead. The gold nameplates have finally come off its double terrace office at 39-41 Phillip Street, replaced by a ‘For Lease’ sign that signals the end of an era for what was not long ago considered one of Australia’s most respected and feared investment funds.
Once the home to some of the brightest investors in the country, VGI made a name for itself with its unique blend of conviction and contrarianism. Blockbuster shorts against Slater and Gordon, jewellery brand Pandora and Corporate Travel Management generated headlines and a fortune for early investors and staff.
Led by founder Rob Luciano and his top lieutenant Doug Tynan, the investment team went deep on companies, striving to find the “camouflaged quality” the rest of the market had missed.
“Ultimately really understanding a business allows you to ascertain what the key value drivers are and thus whether you have a variant perception. Having a variant perception was a critical part of the process,” Luciano told Capital Brief.
