Will Vicars' Contrarian Approach: Caledonia Investments

Will Vicars is the Joint Chief Investment Officer at Caledonia and sits on the Board of Directors of Caledonia (Private) Investments Pty Limited, DFO Investments Pty Limited and The Caledonia Foundation. Vicars joined Caledonia in 1998 and is said to account for as much as 20% of its $3.8 billion funds under management. In 2013, Vicars made headlines when he paid $20.95 million for two penthouses in Bondi Beach, setting a new national record for the country's most expensive apartment.

Will Vicars' role at Caledonia

Will Vicars is the Joint or Co-Chief Investment Officer at Caledonia and has been since he joined the company in 1998. He also sits on the Board of Directors of Caledonia (Private) Investments Pty Limited, DFO Investments Pty Limited, and The Caledonia Foundation.

Prior to joining Caledonia, Vicars worked as a Senior Portfolio Manager at NRMA Investments and a Portfolio Manager at Bankers Trust in Sydney, where he began his career in 1988. He graduated from the University of Sydney in 1986 with a Bachelor of Arts, majoring in Economics.

As Caledonia's Chief Investment Officer, Vicars is said to account for as much as 20% of its $3.8 billion funds under management. In 2013, he made headlines when he purchased two adjoining penthouses in Bondi Beach, Sydney, for $21 million, setting a new national record for the most expensive apartment in Australia.

The Darling family's investment

Caledonia is an independent global investment manager, overseeing private and institutional assets within a single long-short equity strategy. The firm has offices in Sydney and New York and offers private investment management services to external clients.

Vicars, as the Chief Investment Officer, is said to account for as much as 20% of its $3.8 billion funds under management, a figure he disputed in 2016.

Caledonia Investments has been the subject of scrutiny for its lack of transparency regarding investment holdings, fees, and past returns. Despite claiming to have achieved over 17% per annum since 1992, they have not published data to support this assertion. This lack of transparency has raised concerns among potential investors.

In addition to his role at Caledonia, Vicars has made headlines for his personal real estate purchases. In 2013, he spent $20.95 million on two penthouses in the Bondi Pacific development, which were amalgamated into one supersized residence. This purchase set a record for the most expensive apartment in Australia at the time. Vicars also owns exclusive penthouses in the same luxury development, bringing his total spend in the building to $34,585,000. These lavish expenditures have prompted questions about his compensation as Caledonia's Chief Investment Officer and the firm's values.

Will Vicars' property purchases

Will Vicars, the co-chief investment officer at Caledonia, has made headlines with his property purchases, particularly in Bondi. In 2013, Vicars set a record by purchasing two penthouses in the Bondi Pacific development for $20.95 million, with plans to amalgamate them into one supersized residence. The top-floor space in the redeveloped Swiss Grand Hotel offers a total size of 975 square metres, including a 468-square-metre terrace facing the beach.

Vicars further expanded his portfolio in the same luxury development, splashing another $11 million on an exclusive penthouse and two smaller apartments for his children, taking his total spend in the building to $34,585,000.

In 2024, Vicars made news again as the mystery buyer of an $11.6 million block of eight apartments in Bondi. Outbidding prominent property investors, Vicars' bullish purchase was over $2.3 million above the reserve price. This art deco block is intended for the personal use of his family, according to agent Ric Serrao.

Vicars' property purchases have sparked industry speculation and raised questions about his compensation as the Chief Investment Officer of Caledonia. His lavish expenditures and the high-profile nature of his real estate acquisitions have prompted discussions about the alignment of his personal choices with Caledonia's values and transparency.

Will Vicars' net worth

Will Vicars is a fund manager and the Joint or Co-Chief Investment Officer at Caledonia Investments, a boutique fund manager. He joined the firm in 1998 when it began offering its private investment management services to external clients.

Vicars is a relative by marriage to former Australian Prime Minister John Howard and lives in a beachfront mansion in Point Piper. He has made headlines for his lavish property purchases, including a $21 million record-breaking apartment in Bondi Beach in 2013, and an $11.6 million block of eight apartments in Bondi in 2024.

Vicars' net worth is undisclosed, but his role as Chief Investment Officer of Caledonia Investments, which manages $3.8 billion in funds, suggests significant financial success. His property purchases indicate a substantial personal fortune, with a willingness to spend tens of millions of dollars on residential real estate.

Caledonia's investment strategy

Caledonia is an independent global investment manager that manages private and institutional assets within a single long-short equity strategy. The firm was established in 1992 and has offices in Sydney and New York.

The firm offers private investment management services to external clients, including high-net-worth individuals and institutions. It is known for its strong performance, claiming to have achieved returns exceeding 17% per annum since its inception. However, there have been concerns about a lack of transparency regarding its investment holdings, fees, and past returns.

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