About Us

Gyrostat Capital Management is an independent privately owned asset manager which holds an Australian Financial Services Licence.

The key executives and Board Members hold equity in the firm and are significant investors in the Fund.

Full details of our Board structure and professional advisers are on our Governance page.

Investors funds and stocks are held in custody by Australia's largest independent custodian One Investment Group. 

Our team has extensive experience domestically and globally, as investors, as non-executive directors, and as senior management in funds management, private equity, industry, investment banking, and equity research.


Craig Racine

Managing Director
BCom, LLB, MAppFin, PGDip (Int Fin) Chief Investment Officer

Craig Racine has held senior executive positions based in Australia and Hong Kong in asset management, private equity, investment banking, equity research, and industry. He commenced his career in the chartered accounting industry with KPMG.

In Hong Kong, his senior management experience included Executive Director at The Asian Infrastructure Trust (Hong Kong) with lead investors International Finance Corporation, Asian Development Bank, Soros Funds Management, Frank Russell Investments, and AMP Capital. During that time he held Board positions in multi-national companies in China (China Unicom), India, Indonesia, The Philippines, Pakistan, and globally.  He was a Managing Director and Head of Sector Research at ING Barings (Asia) and Peregrine Investment Bank. 

Upon returning to Australia he founded boutique asset management firm Gyrostat Capital Management. 



Peter Clifton

Non-Executive Director and Chairman, Board of Directors

Peter Clifton has over 30 years experience, both within Australia and internationally, at senior executive and director roles, primarily in the information technology and telecommunications field. He has advised a wide range of companies including Leightons, KPMG, the Asian Infrastructure Trust (Hong Kong), ING Barings (Hong Kong) and the Victorian Government. He has helped establish a number of start-up companies and has been on the Board of the ASX 300 listed company Amcom Telecommunications since 1999. Previously he has held Board positions in companies in India, Sri Lanka, the Philippines, Saudi Arabia and Poland.


Andrew Smith

Director and Chairman Compliance Committee

Andrew’s business career has focussed on finance and the financial markets in the Asia Pacific and the United Kingdom. Utilising the experience gained in his working career, he now holds a number of non-executive and consulting positions. Andrew is also a non executive Director of Eagle Health Holdings Ltd; Responsible Manager and Chairman of the Project Control Group of Goal Property Group Pty Ltd; and Responsible Manager of Dennis AFSL Pty Ltd.

He was formerly the Managing Director and Chief Executive of the Stockbroking and Corporate Finance group Intersuisse Ltd (now Phillip Capital) between 2000 to 2010. Prior to that, Andrew was Chairman of the Sedgwick Group in the Asia Pacific between 1995 to 2000 and a member of the Group Executive Committee in London.  Andrew was also Chairman of XPD Soccer Gear Group Ltd (ASX: XPD) and on the Boards of Elk OrthoBiologics Ltd, Zheng He Global Capital Ltd and on the Board of Advice of Aon Risk Services.
David Barwise headshot

David Barwise


David Barwise has over 20 years legal, regulatory and compliance experience within the legal industry in Australia, Europe and Asia (with a focus on managed funds, structured finance, capital markets, banking, asset management and trust and agency services). He was a partner in a leading global law firm for 15 years, a member of its European management board, held a variety of product, client and regional management positions and acted as the relationship partner for a number of global investment and regional banks. He has worked in Australia, London and Singapore. He also holds a variety of post graduate qualifications in law, business, accounting, finance and corporate governance.


Leo Tang

BEng, MSc
Senior Investment Officer

Leo Tang has extensive experience within investment banking, private equity and industry. Previously, he worked as regional analyst in equity research with ING Barings Securities Asia, and in the investment deal team with Asian Infrastructure Fund Advisers, as well as strategic planning specialist with Motorola Asia Pacific.

He is skilled in business analysis, financial modelling, and operational management.

Peter Donnellon

Peter Donnellon

Institutional sales

Peter Donnellon has over 29 years’ experience in the banking stockbroking and investment management industries. He was the chief investment officer and chairman of the asset allocation committee for an international hedge fund of funds business for nine years. In 2008 he was awarded “Winner Best Fund of Funds” at the AIMA Australia Hedge Fund Awards ceremony.  He has worked in the equity capital markets, investment trust and derivative structured products divisions of some of the leading international banks. In 2005 he moved from London to Australia to oversee the Asian operations of the fund management business. He holds an MBA from the University of Edinburgh.

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Gemma Malone

Office Manager

Gemma Malone is highly experienced in office management having worked with large chartered accounting firms.