Tom Cowan, co-founder of Sydney-based investment firm TDM Partners, has announced his intention to depart the firm within the next two years. The surprising news, which sees the 48-year-old step away “to rebalance and spend more time with family,” has elicited considerable praise from local investment circles for the “cultural change” he championed. TDM Partners is known for its role in bringing businesses onto the ASX. Cowan’s planned exit in 2028 marks the end of a two-decade tenure that many felt was just gaining momentum.
The announcement coincides with a recent update to Mr. Cowan’s interests in Guzman y Gomez (ASX:GYG), where he serves on the board. Filings revealed he was bequeathed 1,268,362 shares, valued at $21.56 million, from FNL Investments Pty Ltd. This vehicle was initially registered by his father, Richard Cowan, in 1963. The share transfer is understood to be part of estate planning following Richard Cowan’s passing in February at the age of 86.
The substantial share bequest highlights the family’s deep ties to the fast-food chain, whose initial public offering was a significant event for TDM Partners. While the firm currently holds over $360 million in Guzman y Gomez shares, Mr. Cowan personally controls 33 per cent of the investment office. Following his departure, TDM Partners will be led by remaining partners Hamish Corlett and Ben Gisz. Mr. Cowan has indicated he intends to remain on the boards of Rokt and Guzman y Gomez for the foreseeable future.
