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Lucerne Alternative Investments Fund (LAIF)
Lucerne Alternative Investments Fund operates through Lucerne Investment Partners, an Australian firm based in Richmond, Victoria.
Lucerne Alternative Investments Fund (LAIF)
Lucerne Alternative Investments Fund operates through Lucerne Investment Partners, an Australian firm based in Richmond, Victoria. The fund takes a fund-of-funds approach, constructing portfolios from external managers across absolute return, private credit, and real asset strategies. Anthony Murphy, the CEO and co-founder, runs the vehicle alongside an investment committee chaired by Michael Houghton — indicating a governance-led allocation process rather than a single discretionary manager model. The strategy spans hedge fund allocations, private credit exposure, and real property assets. Confirmed holdings include the Clifton Hill Townhouses & Commercial Property in Clifton Hill, Victoria — a mixed-use asset held directly rather than through a fund vehicle. The portfolio also extends to precious metals, carbon futures, and a digital assets strategy, giving the fund exposure to liquid alternative risk premia alongside traditional real estate. Australian wholesale investors gain access to this blend via a pooled vehicle format. The investment committee includes independent members Dragana Timotijevic and Mugunthan Siva, which suggests an institutional governance framework unusual for smaller Australian alternative managers. The firm's Richmond headquarters places it within Melbourne's professional services corridor, close to superannuation fund allocators and high-net-worth advisory networks. What distinguishes LAIF structurally is the combination of direct property development exposure with a fund-of-funds liquid alternatives book — most Australian multi-manager platforms sit entirely within liquid markets or entirely within real assets, not both. That hybrid approach gives wholesale investors a single entry point to strategies that normally require multiple separate mandates.
General information
Firm type
Generic
Year founded
—
AUM
Undisclosed
Location
Region
Oceania
Country
Australia
City
Richmond
Corporate office
Richmond, Victoria, Australia
Principals
Anthony Murphy
CEO and Co-Founder
Michael Houghton
Executive Director and Chair of the Investment Committee
Dragana Timotijevic
Independent Member of the Investment Committee
Mugunthan Siva
Independent Member of the Investment Committee
Sector focus
Frequently asked questions
How does Lucerne Alternative Investments Fund source its underlying managers?
LAIF allocates via Lucerne Investment Partners' in-house research process, with manager selection overseen by an investment committee chaired by Executive Director Michael Houghton. The committee includes independent members, indicating an external-vetting layer for fund selection. The sourcing network is concentrated in Australia but extends to international absolute return and private credit managers that accept Australian wholesale investor capital.
Is LAIF a pure fund-of-funds or does it also invest directly?
The vehicle blends fund-of-funds allocations with direct real estate holdings. The Clifton Hill Townhouses & Commercial Property in Victoria sits directly on the book, and the fund also runs exposure to precious metals, carbon futures, and digital assets. This hybrid structure is unusual — most Australian multi-manager platforms operate exclusively in liquid alternatives or unlisted property, not both under one roof.
Who sits on the LAIF investment committee?
The committee is chaired by Michael Houghton, an Executive Director at Lucerne Investment Partners. Independent members include Dragana Timotijevic and Mugunthan Siva, bringing external governance to allocation decisions. CEO and co-founder Anthony Murphy represents the firm's leadership on the committee.
What investor base does LAIF serve?
LAIF targets Australian wholesale investors — a category that under Australian securities law includes high-net-worth individuals, family offices, and institutional investors meeting specific asset or income thresholds. The fund is structured as an unlisted pooled vehicle, which is the standard format for Australian alternative funds serving this investor segment.
Does LAIF have exposure to digital assets?
Yes — the fund maintains a dedicated digital assets strategy alongside its hedge fund and real asset books. The digital assets exposure sits within the liquid alternatives sleeve, offering wholesale investors access to crypto and blockchain-related strategies through a managed fund structure rather than direct token holdings.
How is LAIF connected to Lucerne Investment Partners?
LAIF is the alternative investments vehicle of Lucerne Investment Partners, the broader financial services firm co-founded by Anthony Murphy. Lucerne Investment Partners provides the management, governance, and investment committee infrastructure for the fund. The parent entity operates from Richmond, Victoria, in Melbourne's inner-east professional services corridor.
What real assets does LAIF hold on its direct balance sheet?
The fund directly holds the Clifton Hill Townhouses & Commercial Property, a mixed-use development in Clifton Hill, Victoria. This property combines residential townhouse units with commercial space. The direct real estate exposure differentiates LAIF from peer multi-manager funds that access property exclusively through external fund commitments or REITs.
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