Wingate launched with a vision to revive the old European family merchant banking tradition, based on personal investor relationships. This meant bringing an exceptionally measured approach to risk and to its investment strategies.
While Wingate initially focused primarily on M&A advisory work, the intention was always to create an investment platform. Within a few years, Wingate launched its fund management business and began investing in property debt transactions.
Founded in 2004 from a home office in Melbourne, Wingate today manages over $8 billion in funds, having funded $20 billion in property value and corporate investments, and supported the construction of over 20,000 homes for Australians.
Wingate is founded by Farrel Meltzer, alongside Joel Beebe, growing from a home office to a small space in 459 Collins Street.
The business is focused mainly on advisory and M&A work, but the longer-term vision is to build a European-style merchant banking platform that invests their own capital alongside co-investors.
Facebook is launched by Mark Zuckerberg. The Summer Olympics are held in Athens. John Howard becomes the second-longest serving Australian Prime Minister.
Ryan Levin joins Wingate after immigrating to Australia. Wingate Asset Management (WAM) begins, and Chad Padowitz joins Wingate to drive a global equities investment strategy alongside Joel.
Hurricane Katrina ravages the Southern United States. The first video is uploaded onto YouTube.
Wingate completes its first debt investment, a refinancing for the owners of the iconic Hill of Content bookshop in Melbourne. Wingate is one of the first investment houses to source private debt, investing in syndicated deals with the principals and a handful of friends, many of whom become early shareholders in Wingate.
‘An Inconvenient Truth’ is released and the world starts to pay attention to global warming. War breaks out in Lebanon. Brokeback Mountain wins ‘best picture’ at the Oscars.
Franco Dogliotti joins Wingate and the early team is complete. The platforms of Wingate begin to take shape – M&A advisory, global equities and debt.
The Wingate team grows and moves to 333 Collins Street, and at the end of 2007 The Wingate Way is penned, a set of values that underpins the business to this day.
The last Harry Potter book is released. Gordon Brown becomes the UK Prime Minister as Tony Blair steps down. Kevin Rudd becomes the Australian Prime Minister, defeating John Howard by a landslide.
Wingate Asset Management enters into a joint venture with Australian Unity, focused on global equities. Mark Harrison joins Wingate focusing on property origination, teaming up with Ryan Levin.
Wingate observes the global financial crisis beginning to emerge and looks to raise patient capital to take advantage of the gap opening in the market for private property debt.
The global financial crisis arrives with the collapse of the Lehman Brothers. Barrack Obama is elected, the first African American president of the USA. Fidel Castro retires as President of Cuba after nearly 50-years of rule.
Wingate solidifies its property business, as many over-leveraged firms do not survive the global financial crisis.
Many more deals begin to be syndicated throughout the Wingate early investor community, with the promise of the ‘Wingate handshake’ enough to seal the trust of counter parties and investments.
Michael Jackson passes away. The Black Saturday bushfires ravage Victoria. The bitcoin network is created, and swine flu is discovered.
The property business goes from strength to strength, with Wingate financing a major transaction in DFO South Wharf in a joint venture with JP Morgan’s Global Special Opportunities Group.
Earthquakes occur in Haiti and Chile, as does the Deepwater Horizon oil spill. Instagram is launched, and the first iPad is released.
As more Wingate team members come on board, Wingate enters into a joint venture vehicle with a major South African family office who co-invests in Wingate investments and takes a shareholding.
Osama Bin Laden is killed in ‘Operation Neptune Spear’. South Sudan becomes the world’s newest country. Julia Gillard becomes Prime Minister of Australia.
Wingate begins to implement a ‘scale-back’ facility to accommodate for growing investor demand. In the five years after the GFC, Wingate lends more than $350m in 50 financing deals.
Barrack Obama is re-elected. The Costa Concordia passenger cruise ship capsizes. London hosts both the Summer Olympics and Queen Elizabeth’s diamond jubilee.
As appetite from investors outstrips available placement, the early Wingate team decide to create a fund called the Wingate Investment Partners Trust.
WIP1 is a true innovation - the first private debt fund in Australia, a portfolio of diversified private debt assets with returns not correlated to the volatile equities market. The launch is limited to existing shareholders and the available placement is quickly filled, with WIP 2 following shortly after.
NOW Finance is created and launched, a consumer non-bank lender led by Richard Blumberg who had incubated the business within Wingate.
Edward Snowden reaches global fame for leaking classified information. The Boston Marathon bombing occurs. Tony Abbott becomes the Prime Minister of Australia.
Wingate refocuses the platform towards private debt and begins to wind down M&A advisory work as the team fully deploys the $100m within the WIP2 fund. Plans begin for WIP3.
Flight MH370 disappears. The Ebola virus spreads. Taylor Swift releases ‘1989’ and the ‘break the internet’ movement explodes.
WIP3, structured as an open-ended fund, is launched into market, quickly reaching well over $200m in FUM. Wingate moves to level 48 of 101 Collins in a bigger tenancy as the team grows.
The Charlie Hebdo shooting occurs sparking ‘Je Suis Charlie’ protests across Paris. The Nepal earthquake occurs, and the first images are taken of Pluto.
Funds under management in WIP reaches more than $250m.
The Wingate Platform businesses grow, with Wingate Asset Management executing a significant buyout, and the NOW Finance personal loan book growing more than 200%.
Donald Trump becomes the US President, and the United Kingdom elects to leave the European union in a move called ‘Brexit.’ Malcolm Turnbull becomes the Australian Prime Minister. Pokémon Go is a worldwide phenomenon.
NOW Finance becomes a significant platform in its own right, raising equity and with a loan book of more than $150m. WIP approaches $500m in Funds under management.
Australia holds a plebiscite on same-sex marriage. The #metoo movement builds momentum. Tensions increase between North Korea and the Western World, especially the United States.
Wingate launches the Corporate Investments business, focused on mid-market secured debt lending to quality businesses. Again, this is one of the first of its types in Australia.
Wingate welcomes new shareholders on board as the Wingate Asset Management business rebrands as ‘Talaria.’
Talaria, under the leadership of Joel Beebe and Chad Padowitz, becomes a standalone focused business and grows to more than $500m in FUM over the coming year.
China’s National People’s Congress approves removal of term limits, allowing Xi Jinping to remain President for life. Apple becomes the first American publicly listed company to reach $1 trillion in value.
The three WIP funds approach $1bn in FUM, and a decision is made to consolidate the legacy WIP1,2,3 funds into one fund simply known as ‘WIP’.
The Ralan Group, a Wingate counterparty, suddenly enters into administration. A specialist team is appointed to oversee the workout within Wingate, and over the coming years, ASIC takes significant legal action against the Ralan Group founder, resulting in criminal charges.
Donald Trump is referred to the Senate for impeachment. Theresa May resigns over Brexit and is succeeded by Boris Johnson. Fire ravages the famous Notre Dame de Paris.
ORDE Financial is founded by Paul Wells and Ryan Harkness, incubated within Wingate throughout 2019.
The first Wingate Corporate Credit Fund (WCCF1) is launched, raising $65m in the midst of COVID-19.
The Wingate Property equity business is launched, making acquisitions in ‘core-plus’ opportunities.
The COVID-19 pandemic spreads across the world. The ‘Black Lives Matter’ movement is established following the death of George Floyd in Minneapolis. Parasite becomes the first non-English language film to win Best Picture at the Oscars.
Wingate enters into joint venture to acquire Fifo Capital, a business which provides working capital to small and medium enterprises. NOW Finance, with its own financial services license, is demerged from Wingate and is recognised as Australia’s #1 consumer lender by Money Magazine.
Wingate Corporate Credit Fund 1 is fully deployed, and Wingate Corporate Credit Fund 2 is launched.
Wingate acquires CapStra, a leading property advisory firm.
The fallout from the COVID-19 pandemic continues. Joe Biden is inaugurated as the US President. The NASA Rover Perseverance lands on Mars, and Britney Spears is released from conservatorship.
The Wingate Property Senior Debt Fund is launched.
The Wingate Sydney team take a bigger footprint and move into new offices on Level 37 of Governor Phillip Tower.
Goldman Sachs become a capital partner in residual stock positions alongside the WIP fund.
Russia is condemned by world leaders over its invasion of Ukraine. Queen Elizabeth II passes away. Elon Musk takes over Twitter after a 6-month acquisition process.
The Wingate Corporate Credit Fund 3 launches, following the success of the first two in the series.
Wingate takes over the entire level 48 tenancy at 101 Collins.
Wingate becomes a signatory of the Principles for Responsible Investment (PRI).
India becomes the world’s most populated country. Hamas conducts a terrorist attack on Israel. The World Health Organisation declares the end of the COVID-19 global emergency, and ‘Barbenheimer’ dominates the box office.
As Wingate marks its 20-year anniversary of time-tested investing, the Wingate Way remains steadfast. With almost 400 professionals across the group and an enduring track record, the next phase of growth has already begun.
The Wingate Way: Patience. Knowledge. Alignment. Partnership. Risk Mitigation.
NVIDIA enters the battle for the world’s most valuable stock alongside Microsoft and Apple. The Summer Olympics held in Paris. The world’s population reaches more than 8 billion people.
This document has been prepared by Wingate House Pty Ltd ACN 114 119 710 (Wingate House)]. Wingate House is a corporate authorised representative of Wingate Financial Services Pty Ltd ACN 106 480 602, AFSL No. 276899.None of Wingate House, its directors, officers, employees or related bodies corporate (together, Wingate) warrant or represent that the information, recommendations, opinions or conclusions contained in this document are accurate, reliable, complete or current. The information is indicative and prepared for information purposes only and does not purport to contain all matters relevant to any particular investment or financial instrument. Some of the information in this document may be drawn from reports or other information provided to Wingate by third parties. Wingate is not responsible for any third-party material quoted or referenced in this document (including any website links).The information and research in this document does not take account of any individual’s objectives, financial situation or needs. Wingate recommends individuals obtain relevant financial, professional, legal or other advice before making any financial investment decisions. Individuals should consider all factors and risks before making a decision. To the maximum extent permitted by law, Wingate excludes and disclaims all liability (including liability to any person by reason of negligence or negligent misstatement) for any expenses, losses, damages or costs arising out of the use of all or any part of the information in this document.The information in this document is not intended to create any legal or fiduciary relationships and nothing contained in this document will be considered an invitation to engage in business, a recommendation, guidance, invitation, inducement, proposal, advice or solicitation to provide investment or financial services or an invitation to engage in business or invest, buy, sell or deal in any securities or other financial instruments.Wingate has established and implemented a conflicts policy, which may be revised and updated from time to time, pursuant to regulatory requirements, which sets out how Wingate must seek to identify and manage all material conflicts of interest. Wingate may have conflicting roles in the financial products referred to in this research and, as such, may affect transactions which are not consistent with the recommendations (if any) in this research. Wingate’s employees or officers may provide oral or written opinions to its clients which are contrary to the opinions expressed in this research.This document must not be provided to any person located in a jurisdiction where its provision or dissemination would be unlawful. This document may not be reproduced, distributed or published in whole or in part by any person for any purpose without the prior express consent of Wingate.
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