Robert Luciano founded VGI Partners in 2008 and served as Managing Partner and Chief Investment Officer until his resignation in 2025 after over 15 years with the firm. Luciano began his career in funds management after graduating in 1996, initially working as an equity analyst before joining ANZ Funds Management as a full-time Funds Manager in 2001. His investment philosophy was fundamentally shaped by Warren Buffett and Charlie Munger's approach, which he encountered early in his career and credited as the most important lesson influencing his methodology. Following the 2022 merger with Regal Funds Management, investment responsibilities transitioned to Paul Moore, who serves as Chief Investment Officer of Regal Partners and brings extensive global equity experience. The firm underwent significant corporate transformation when VGI Partners merged with Regal Funds Management in 2022, creating a combined entity now known as Regal Partners Limited. This merger brought together four specialist investment managers and created one of Australia's largest independent fund management groups with global reach.

Read More

VGI Partners' investment philosophy is built on three key tenets: capital preservation, long-term compound growth, and portfolio concentration in a small number of high-quality investments. The strategy emphasizes avoiding permanent loss of capital and targets compound annual returns of 10-15% by concentrating capital in a small number of high-quality undervalued businesses, supplemented by selective short selling and cash holdings typically around 30%. The investment approach focuses on 'buy and hold' long-term investments in what they consider to be great businesses that are not fully valued by the market, while also short selling securities which they assess to be vulnerable to a material decline in price. The portfolio is constructed without index benchmarks, typically holding 10 to 25 core long positions supplemented by diversified short positions within strict exposure limits, with allowance for derivatives and currency hedging. This concentrated approach prioritizes quality over diversification, seeking to compound capital through careful selection of undervalued opportunities while managing downside risk.

Read More