L1 Capital

L1 Capital

L1 Capital was founded in Melbourne in 2007 by Raphael Lamm and Mark Landau, two former investment professionals who separated their fund from the broader manager L1 Capital Partners. The firm's wealth originates from the principals' own capital and client investments, not a single family fortune, positioning it as a multi-strategy asset manager rather than a traditional family office. The firm runs a concentrated long-short equity strategy across Australian and select global markets, with a documented tilt toward undervalued, high-quality businesses. It also deploys capital into private equity, real estate, and infrastructure through direct transactions and syndicated deals. L1 Capital has held positions in companies such as Treasury Wine Estates and Boral Limited (per public filings), and its real estate arm has acquired assets like the 101 Collins Street office tower in Melbourne (per news reports, 2019). Geographic focus covers Australia, New Zealand, and select opportunities in North America and Europe. L1 Capital manages capital for high-net-worth individuals, institutions, and family offices, with estimated total assets between A$4B and A$8B (Altss estimate). The firm operates offices in Melbourne, Sydney, and London. It also maintains a philanthropic arm, the L1 Capital Foundation, which supports community and health initiatives. In 2023, the firm expanded its London office to grow its international investor base (per industry reports). What distinguishes L1 Capital is its hybrid model — operating as a public-markets hedge fund that also makes direct private investments, rare among Australian managers. The firm's concentrated portfolio approach, with typically fewer than 20 core positions, creates high-conviction alignment with clients, while its co-investment structure allows investors to access deals alongside the principals' own capital.