UPDATE: A significant leadership change is underway at Tanarra Capital, as Vidhur Rangaswamy, the key figure behind the firm’s $1.6 billion activist fund, has officially resigned. This urgent update comes just weeks after his departure was confirmed to founder John Wylie, marking the end of a nine-year tenure dedicated to driving change in some of Australia’s largest companies.
In a swift move, Eka Nirapathpongporn has been named as Rangaswamy’s successor. Nirapathpongporn brings a wealth of experience from his time at Carnegie Wylie & Co, where he worked for over fourteen years before managing funds for family offices in Hong Kong and Singapore. Now relocated to Sydney, he will oversee Tanarra’s head of equities role, focusing on both ASX-listed and private equity strategies.
The Long Term Value Fund, known for its high-conviction, private equity-style approach, has actively taken stakes in numerous listed firms across Australia and New Zealand. A notable recent case involved property giant Lendlease, where Tanarra acquired a 3 percent stake and issued a detailed proposal critiquing the company’s operations as “unfocused” and calling for strategic exits from international construction projects.
This leadership transition at Tanarra is poised to impact the fund’s strategy moving forward. Reports indicate plans to concentrate investments by acquiring a smaller number of larger stakes in select companies—a shift that could redefine their activist approach.
Wylie expressed confidence in the future of the team, stating, “Vid spent nine years at Tanarra, and we wish him all the best. I’m really happy with the talent in this team going forward – Eka is an outstanding hire.”
The fund currently holds significant stakes in key industry players, including 19.8 percent of Healius, 15.5 percent of Insignia Financial, and investments in Boral, Cleanaway, Gaincorp, United Malt, and Nine Entertainment. The transition also comes on the heels of a $4.80 takeover bid for Insignia Financial, showcasing the fund’s active role in shaping market dynamics.
As this story develops, investors and industry watchers should stay alert for further insights on Tanarra’s revised investment strategies under Nirapathpongporn’s leadership. The changes at Tanarra Capital may signal a new chapter for activist investing in the region, making it a critical situation to monitor closely.
