Ben Cleary, director of Tribeca Investment Partners, has publicly addressed recent controversy surrounding an aggressive message he sent to activist investor Jeremy Raper, framing the incident as a catalyst for a successful capital raise. Speaking for the first time since the episode, Cleary revealed that his fund secured $200 million in just 14 minutes on the same day the message became public.
Cleary attributes the rapid fundraising to increased attention on his fund’s strong performance. His Global Natural Resources feeder fund posted an estimated 127% return last year, while the ASX-listed fund he manages gained 49% in the 2026 financial year and is up 5% so far this year. The Brisbane-based manager emphasized his firm’s long-term investment approach, highlighting three decades of experience navigating market cycles.
Though Cleary declined to elaborate on the specific trigger behind his pointed note to Raper, he made clear that his focus remains on building companies over time rather than courting social media followers or engaging in public disputes. He dismissed critiques implied by activist styles of investing, instead favoring what he described as a measured strategy centered on natural resources and critical minerals.
Looking ahead, Cleary underscored the growing importance of defence-related demand for rare earths and essential commodities. “Resources stocks are the only game in town after 20 years in the toilet,” he said, noting that rising defence spending will drive demand beyond what China’s middle-class expansion achieved in the 2000s. Cleary counts mining magnate Gina Rinehart among his long-standing associates and echoed concerns about current political developments.
Cleary leveled strong criticisms at the Albanese government, accusing it of undermining entrepreneurial activity and expressing particular opposition to changes in capital gains tax. He said such policies threaten the vitality of Australia’s stock market, especially for small companies that contribute significantly to job creation. Along with other notable figures in the finance sector, Cleary contributed $100,000 to Pauline Hanson’s One Nation party in January, a move facilitated by Rinehart through a private event featuring former US President Donald Trump.
Cleary has also voiced his rejection of so-called “wokeness,” a term he associates with progressive cultural movements he deems harmful to society and economic growth. His stance aligns with that of Trump, who has publicly derided the concept.
Separately, a campaign in Fremantle is seeking to end the sponsorship of the local AFL team, the Dockers, by Woodside Petroleum, a prominent Perth-based gas company. The initiative, known as “Get off my chest,” has gained support from Josh Wilson, the Labor Member for Fremantle and Assistant Minister for Climate Change and Energy. Wilson has publicly symbolized his stance by wearing a Dockers jersey with the Woodside logo concealed.
Woodside’s relationship with the Wilson family has been tense, with Wilson’s son recently disrupting the company’s annual general meeting. The issue reflects broader unease about the gas industry within Wilson’s electorate, which remains politically competitive. Wilson indicated he would remain in Fremantle for the upcoming AFL final, highlighting local solidarity with the team.
These developments illustrate the intersection of investment strategies, political opposition to government policies, and grassroots activism within Australia’s resource and energy sectors.