TDM is a private investment firm founded in 2004 with offices in Sydney and New York.
We manage funds for a select group of families who share our long-term investment philosophy. The firm is owned by its three partners who invest personally alongside the clients of TDM.
We invest in companies with attractive growth profiles run by outstanding management teams. Our flexible mandate allows us to invest in public companies globally, as well as Australian and New Zealand based private companies.
We have a highly focused approach to investing, with a portfolio of no more than 15 investments globally. We typically deploy between $20 million to $60 million (maximum $100 million) per investment.
We invest in companies with the following attributes:
TDM's investment approach centres on combining a large investment opportunity set with a focused approach to selecting individual investments.
Our investment mandate is highly flexible. We invest in both public and private companies across a range of geographies, with a focus on Australia, New Zealand, the United States, Canada, the United Kingdom and Western Europe. Whilst we are primarily equity investors, we have the ability to invest across the full spectrum of security types.
We conduct intensive due diligence prior to allocating capital to an investment. Our focus is on building superior knowledge of businesses, industries and people prior to investing.
We typically deploy between $20 million to $60 million (maximum $100 million) per investment.
We will co-invest with trusted and like minded investors in our network, where there are strategic reasons to do so. This may include experienced institutional investors through to individuals with relevant industry expertise.
When we make an investment, we are looking to hold the investment for at least 5 years. Our ability to provide patient capital to businesses is underpinned by clients who share our long-term investment philosophy. We believe this approach provides a significant advantage compared to most other investors.
Our flexible mandate means that we are never forced to sell an investment based on constraints that face many traditional private or public equity investors. For example, we benefit from:
We believe that investing free of these restrictions improves our ability to make the best possible investments for our clients and makes us a unique partner for the companies in which we invest.
Our objective is to play the role of a supportive and constructive partner to the management teams and boards of the companies in which we invest. We are passionate about being part of building world-class businesses and assisting, where we can, in determining the best way to create shareholder value.
We support management teams and boards in a variety of ways, adapting the nature of our support to the specific circumstances of each investment.
For private company investments we are typically appointed to the board and have an active level of engagement with the business.
For public company investments the support we offer may simply be the role we play as a stable, committed shareholder and provider of long term “patient” capital. Alternatively we can also have a more active involvement similar to our private company investments which can include being appointed to the board.
For many of the companies in which we invest, we have a deep relationship with the management team and board, which evolves over time. We have successfully played the role of a trusted “sounding board” on matters ranging from strategy development to major transactional events such as mergers and acquisitions, capital raisings and bank re-financings. Please refer to “Our Capabilities” section for more details.
TDM has extensive investing, corporate advisory and capital markets experience. This experience gives us scope to add value to businesses in a variety of ways. We have been successful in working with management teams and boards of public and private companies for the benefit of all shareholders, in the following areas:
The TDM partners, Tom Cowan, Hamish Corlett and Ben Gisz have invested together for more than 15 years and have enjoyed a friendship reaching even further back. They work as a tight team to maximise results for TDM clients and the companies in which they invest.
Prior to joining TDM Asset Management, Ben worked for Investec Wentworth Private Equity, where he focussed on mid-market growth capital and buyout investments. This included two years in Investec's London office where he was responsible for several of Investec's unlisted and listed principal investments.
Ben has also worked in investment banking at Investec where he advised on a number of successful mergers & acquisitions for private equity and corporate clients. Prior to working at Investec, Ben was an equities analyst at Credit Suisse covering the financial services and building materials sectors.
Ben is currently a Non Executive Director of Pacific Smiles Limited and Chairman of the Audit Committee.
Ben holds a Bachelor of Commerce degree from the University of Sydney and is a Fellow of the Financial Services Institute of Australasia. Ben is a Chartered Accountant, a CFA charter holder and has served on the CFA Society of the UK's continuing education committee.
Prior to joining TDM, Hamish worked as an Investment Manager at Caledonia Investments, a high conviction, global fund manager.
In addition, Hamish worked in London as Financial Controller for 9feet.com, Europe's largest online retailer of sporting goods. After returning to Sydney, he worked in mergers and acquisition corporate advisory with Caliburn Partnership (now Greenhill Caliburn).
Hamish holds a Bachelor of Commerce with Honours Class 1 (Accounting and Finance) from the University of Sydney and a Graduate Diploma of Counselling from the Australian College of Applied Psychologists.
Prior to commencing his career in funds management, Tom spent four years at KPMG Corporate Finance (Australia) and Investec Wentworth specialising in mergers and acquisitions and corporate strategy advice. Over this period, Tom was involved in several major corporate deals in a variety of industries including technology, healthcare, infrastructure, retail and finance.
Tom is currently Non Executive Chairman of CSG Limited and a Non Executive Director of Baby Bunting.
Tom holds a Bachelor of Commerce with Honours Class 1 (Accounting and Finance) from the University of Sydney.