Thorney Investment

What Thorney Investment does

Thorney Investment Group is a privately-owned Australian investment group founded in 1991 by Alex Waislitz OAM and headquartered at Level 45, 55 Collins Street, Melbourne. It operates as the principal investment vehicle for the Waislitz family office and runs an active, 'constructivist' investment style targeting small-to-medium capitalisation listed and unlisted Australian equities, overseas equities, digital currency, and real estate, with the stated intent of working alongside boards and management to unlock shareholder value.

The group generates revenue through three principal streams: investment management fees earned as the appointed manager of two ASX-listed investment companies, Thorney Opportunities Ltd (ASX:TOP, listed 2013) and Thorney Technologies Ltd (ASX:TEK, listed 2016), under long-term investment management agreements; property finance, joint venture and equity syndication income, anchored by a long-standing partnership with Centennial Property Group (70+ co-investments, A$2.5bn+ transacted, A$1.5bn+ FUM) and the Lambert Capital Property Credit Fund; and sub-underwriting and capital-raising fees from portfolio companies' entitlement offers. Distribution of the LIC products occurs through the ASX, while property exposure is offered to wholesale investors via syndicates and JV arrangements, with additional US portfolio capability managed out of the United States and tech deal-flow networks spanning Australia, Israel, and the USA.

The firm is lean, with 11-50 employees, and is led by founder/Executive Chairman Alex Waislitz, COO Peter Landos (joined 2000), CFO/Company Secretary Craig Smith (joined 2008), and a broader investment team covering Australian equities, US equities, property, and (since April 2025) resources. The group is privately held with no public revenue disclosure, and its strategy is differentiated less by technology and more by long-tenured personnel, ASX-listed distribution vehicles, and deep property platform integration.

Name

Thorney Investment

Legal name

Thorney Investment Group

Website

https://thorney.com.au

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

11–50 employees

Short description

Thorney Investment Group is a privately-owned Melbourne-based investment house (founded 1991) that manages two ASX-listed LICs—Thorney Opportunities (TOP) and Thorney Technologies (TEK)—and runs a parallel property, resources, and US equities investment program for wholesale and retail investors.

Ownership category

akta.pro rank

Product category

Private Investment Management

NAICS

Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA)

akta.pro secondary industries

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ), Real Estate Fundraising Placement (REPE/REIT/Property Funds) (FSAEALAD)

Keywords

• Private investment management
• Listed investment companies
• Constructivist equity investing
• Property investment finance
• Portfolio asset management

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Investment Management Fees: Thorney Investment Group generates revenue as the private investment manager of ASX-listed investment companies Thorney Opportunities Ltd (TOP) and Thorney Technologies Ltd (TEK) pursuant to long-term investment management agreements. TIG also manages its own private portfolio of investments across listed equities, unlisted equities, digital currency, and real estate.
2. Property Finance and Joint Ventures: Thorney participates in property investment via direct investment, equity syndication, and provision of mezzanine and debt finance. This includes property finance and joint venture arrangements with developers and syndicates.
3. Investment Underwriting: Thorney Investment Group sub-underwrites entitlement offers and capital raisings in portfolio companies, generating fees and increasing ownership stakes in investee companies.

Distribution channels3 records

Marketing channels4 records

Core offering

Thorney Investment Group is a privately-owned investment firm that manages ASX-listed investment companies Thorney Opportunities Ltd (TOP) and Thorney Technologies Ltd (TEK) under long-term investment management agreements. The group also manages a private portfolio across listed and unlisted Australian equities, overseas equities, digital currency, and real estate, and operates a property investment arm spanning residential, commercial, and retirement developments with property finance and joint venture arrangements.

Product overview

Thorney Investment Group operates as a diversified private investment house offering investment management services through multiple subsidiaries. The core offering consists of Thorney Investment Group (TIG) as the parent private investment entity, supplemented by two ASX-listed investment companies (LICs): Thorney Opportunities Ltd (TOP) for general investment opportunities and Thorney Technologies Ltd (TEK) for technology-focused investments. The group also includes Thorney Property for real estate investment activities and the Waislitz Foundation for charitable giving. TIG serves as the investment manager for both TOP and TEK pursuant to long-term investment management agreements, providing deal flow and investment expertise across listed and unlisted equities, digital currency, and real estate.

Differentiator

Problem solved

Functional benefit

Brands

• Centennial Property Group: Property investment platform transacting over $2.5bn of real estate in Australia with funds under management exceeding $1.5bn.
• Centennial Industrial and Logistics (CIL)
• Edge Early Learning
• Lambert Capital Property Credit Fund

Products and services

• Thorney Investment Group (TIG) Thorney Investment Group is the private investment vehicle of Alex Waislitz that invests across listed and unlisted Australian equities, overseas equities, digital currency, and real estate, and serves as the investment manager of ASX-listed Thorney Opportunities Ltd (TOP) and Thorney Technologies Ltd (TEK) under long-term investment management agreements.
• Thorney Opportunities Ltd (TOP) Thorney Opportunities Ltd (TOP) is an ASX-listed investment company (LIC) that concentrates on producing absolute returns for shareholders over the medium to long term through careful selection of Australian investments in small to medium capitalisation companies, listed and unlisted, in sectors including media, automotive, energy, and pharmaceutical. Investors gain exposure by purchasing TOP shares on the ASX.
• Thorney Technologies Ltd (TEK) Thorney Technologies Ltd (TEK) is an ASX-listed investment company (LIC) with a broad mandate to invest in technology-related investments at all phases of the investment lifecycle. It targets early stage companies with new and disruptive technology and business models across fin-tech, e-commerce, education, agriculture, medical, telecommunication, robotics and AI. Investors gain exposure by purchasing TEK shares on the ASX.
• Thorney Property Thorney Property participates in property investment via direct investment, equity syndication, and the provision of mezzanine and debt finance. Activities span three generations of involvement in residential, commercial, retirement, and industrial developments, including property finance and joint venture arrangements with developers and syndicates in Australia and the United States.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• Centennial Property GroupcoreStrategic or Co-development PartnerThorney has been a foundation investor, strategic partner and strong supporter of Centennial Property Group since its formation in 2012. Thorney has invested in every CPG investment since inception, now tallying over 70 investments. CPG has grown into a diverse property investment business transacting over $2.5bn of real estate with current funds under management exceeding $1.5bn.
• Lambert CapitalcoreStrategic or Co-development PartnerThorney partnered with Lambert Capital in the creation of the Lambert Capital Property Credit Fund. Lambert Capital has been a leading participant in the private lending space generating attractive risk-adjusted returns since 2009. The Credit Fund specializes in providing property finance for experienced property developers and owners across multiple asset classes.
• Waislitz FoundationminorOthersAlex Waislitz founded the Waislitz Foundation in 2013 with the aim of taking a new approach to giving. The Foundation aims to invest in and have a direct impact on social problems through active participation in the projects it supports.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Centennial Property Group: Property investment platform transacting over $2.5bn of Australian real estate with $1.5bn+ FUM; a core partner and Thorney Property's operational vehicle for residential, commercial, retirement, and industrial developments.
• Wilson Asset Management (WAM): Australian LIC manager running a constellation of listed investment companies (WAM Capital, WAM Leaders, etc.) with an active, constructivist investment style highly comparable to Thorney's TOP and TEK.
• Milton Corporation: Long-running ASX-listed investment company with diversified Australian equities portfolio and active investment approach, directly comparable in structure and mandate to Thorney Opportunities.
• Bailador Technology Investments: ASX-listed technology-focused investment company that invests in late-stage growth tech businesses, a comparable listed vehicle to Thorney Technologies (TEK).
• Ironbridge Capital: Australian mid-market private equity firm focused on smaller-cap companies, directly comparable to Thorney's small/mid-cap constructivist approach outside the LIC wrapper.
• Australian Foundation Investment Company (AFIC): Long-established ASX-listed investment company holding diversified Australian equities; comparable as a domestic LIC vehicle, though less constructivist than Thorney Opportunities.

Broad incumbents

• Platinum Asset Management: Australian equities-focused fund manager with global mandates; a broader listed incumbent in the same portfolio management category as Thorney, though at a different AUM and strategy scale.
• Magellan Financial Group: Large Australian fund manager offering global and domestic equity strategies to retail and institutional clients; comparable as a listed asset manager with diversified mandates, though focused on large-cap vs. Thorney's small/mid-cap focus.

Regional players

• Cromwell Property Group: Australian-listed real estate investment and fund manager with industrial, commercial, and logistics portfolios; comparable to Thorney Property's CIL platform though with broader institutional reach.

Emerging players

• L1 Capital: Boutique Australian fund manager running equities strategies across long-short and long-only mandates, comparable in size and constructivist orientation to Thorney's smaller in-house investment capability.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/pages/Thorney-Investment-Group/2048087052130830
• LinkedInau.linkedin.com/company/thorney

Revenue estimate

Valuation estimate

Number of profiles

Profiles23 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments33 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Thorney Investment