Fund manager Robert Luciano sells redundant Palm Beach weekender

Fund manager Robert Luciano sells redundant Palm Beach weekender
Fund manager Robert Luciano sells redundant Palm Beach weekender

Rob Luciano, the most talked about hedge fund manager in Sydney, has finally sold his spare weekender at Palm Beach.

Luciano’s hillside Florida Rd retreat, which he purchased for $3.3 million in 2015, took a year to sell at around $4.4 million.

It was redundant after he bought on the Ocean Road dress circle, spending $18 million last July for the townhouse style project of Hardie Grant chairman John Gerahty and wife Patricia.

It was part of the Deaton family’s now subdivided Tropique estate.

Luciano scrapped plans for an upgrade of Mosman homes after his big acquisition.

His VGI Partners has done nicely after its ASX debut last month, trading on Friday at $12.10 per share, more than double its $5.50-per-share price in the initial public offering.

Luciano, the son of a hotel pianist and a schoolteacher who founded VGI in 2008 after a stint at Caledonia Investments, holds shares worth $492 million.

This article was first published in the Sunday Telegraph. 

Tags: 
Trophy Sale Palm Beach

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