HDPartners

HDPartners is a separate entity founded by Magellan co-founder Hamish Douglass after his departure from Magellan. There is no ownership or structural linkage between the two firms. HDPartners reflects Douglass's personal pivot from public-equity portfolio management to direct private-company control investing.

HDPartners has not publicly disclosed its specific capital base. The structure appears designed as a principal-led vehicle, suggesting significant capital commitment from Douglass personally, possibly alongside aligned family office and high-net-worth co-investors. The firm does not market a blind-pool fund to institutional LPs.

HDPartners targets mid-market Australian and New Zealand companies with established market positions and identifiable catalysts such as founder succession, management buyouts, or growth capital requirements. The firm concentrates on healthcare services, enterprise software, consumer, financial services, and business services sectors, focusing on businesses that generate predictable free cash flow.

While the firm has not publicly detailed a formal co-investment program, Douglass's personal network across Australian institutional investors and global allocators suggests the capability to syndicate equity or bring in aligned capital on a deal-by-deal basis. No standing co-investor club or regular syndicate partners have been publicly identified.

Douglass's Magellan framework emphasized concentrated, high-conviction positions in publicly listed companies with durable competitive advantages. At HDPartners, that philosophy extends to private markets — but the vehicle allows total control over operations, governance, and capital allocation, removing public-market constraints on holding periods and concentration limits.