Phil King, co-founder and chief investment officer of Regal Partners, has announced his retirement after a distinguished 40-year career in finance, including two decades at the helm of Regal. Regal Partners is a prominent investment firm known for its active trading on the ASX, with extensive involvement in pre-IPO investing, private credit, and various other market activities. The company is one of the most active traders on the ASX, with its influence extending across numerous deals. King’s departure, announced on Monday, saw Regal shares dip as much as nine per cent before stabilising at approximately seven per cent down.
King insists his decision to retire is not due to any rifts or health concerns, noting a process that began with Regal’s ASX listing in 2022. He plans to maintain his eight per cent shareholding in Regal and remain an investor in its funds, while also setting up a charitable foundation for his continued investment activities. Reflecting on market evolution, King highlighted the “bubble in passive investing” but believes this shift is cyclical, eventually creating opportunities for active managers. He also pointed to structural challenges from Australia’s tax settings, which he argues trap capital in low-growth businesses, and the impending impact of artificial intelligence on funds management.
Regal Partners CEO Brendan O’Connor affirmed the firm’s readiness for a post-King era, citing a strong internal team and significant growth, including a 92 per cent increase in fund inflows and doubled earnings per share in the six months to June. While acknowledging King as irreplaceable, O’Connor outlined a shift from a sole CIO model to an investment committee, mirroring the structure of Regal’s multi-strategy products, to ensure robust governance. King, known for catchphrases like “If in doubt, ship it out,” expressed his intention to stay connected to markets, which he genuinely enjoys, even in retirement.
