Our Investment Philosophy

As a high conviction active investment manager focused on direct property investment opportunities, Occasio offers investors access to structured transactions delivering superior risk-adjusted returns.

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Investment principles

Occasio’s investment principles are guided by experience, analysis and detailed research.

At the portfolio and asset level, we deliver investment returns through:

→ Strong, partnership-based approach with delivery partners to ensure alignment of interest. 

→ Strategic asset allocation. This ensures diversification of investment exposure and returns. 

→ Focusing on a risk-adjusted view on investment pricing and structuring at investment stage. 

→ Ongoing risk mitigation and enhancing returns through active investment management. 

→ Occasio co-investment in transaction opportunity demonstrates our integrity and belief in our investment.

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Investment Origination

Occasio follows a disciplined process, albeit maintaining flexibility to structure bespoke investment transactions, which includes:
→ Research
→ Asset and sponsor selection
→ Technical due diligence
→ Identification of return enhancement opportunities

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Occasio’s Expertise

Our experience in sourcing and managing investments results in industry leading returns for our clients. 

The Occasio team’s complementary experience, skills and networks cover many different disciplines.

These include:

→ Active investment management

→ Risk management

→ Financial modelling and structuring 

→ Project Delivery 

→ Development management 

International experience across property and other industry sectors including:

→ Residential apartments

→ Land subdivision 

→ Aged care

→ Retirement living 

→ Commercial office 

→ Industrial 

→ Private equity 

→ Infrastructure

→ Retail 

→ Agri-business

→ Childcare

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About Us

We structure innovative investment opportunities to deliver superior risk-adjusted returns to our investment and delivery partners alike.  We do this by sourcing, structuring, managing and overseeing the operational functions of our investments to create value and mutually beneficial outcomes.

Occasio is a specialist, industry-leading property investment  business. Our global experience means we can identify,  structure and deliver superior risk-adjusted returns.

Our core values are:

→ Integrity

→ Sophistication

→ Reputation

→ Transparency

→ Respect

Occasio combines its comprehensive technical and financial experience with its desire to create and deliver sustainable success for our investment and delivery partners.  We consistently provide unique arbitrage opportunities as a result of our extensive direct and active investment experience across various asset classes.

Occasio’s relationships and reputation set us apart, and the number of clients and investors that return to Occasio is a testament to our model and the results we deliver.

Our Team

Get to Know Our Leadership Team


Ray Zelouf

Founder and Managing Director

Ray Zelouf has over 20 years’ experience in senior executive positions. Ray has led numerous property transactions totalling over $1Bn in value and covering over 1,000 dwellings. His diverse business knowledge with deep commercial acumen is complemented with experience across property, corporate finance and investments. Ray’s previous roles include being Chief Investment Officer at a leading Melbourne based property developer, Chief Operating Officer of ANZ Bank’s global corporate finance division, and leading a $1.6Bn funds management business.

Ray is a former member of the UDIA finance and Taxation Committee.

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Frank Dooley

Chief Financial Officer

Frank has over 20 years’ experience in accounting and financial management within the property, banking and corporate business sectors across Australia, the UK and Europe.

Most recently, Frank was CFO at Allaf Property, with over 30 commercial projects under development. Prior to that, Frank was CFO for ID Land, one of the largest private residential property developers in Victoria, with a combined portfolio under management of c.$2.5 billion. He has also held senior finance and management roles at Lloyds Banking Group (UK),

where he headed up the Executive reporting and planning teams with a diversified loan portfolio of c.$180 billion, KPMG financial services based in Brussels and CFO of the Claranet Group, with operations in eight countries.

Frank is a Fellow of the Association of Chartered Certified Accountants.


Richard Struthers

Senior Investment Manager

Richard Struthers joined Occasio shortly after its establishment, in 2017, bringing a wide range of skills, including financial and property analysis, credit and investment assessment and governance, and project and corporate strategy.

Richard is a commercially astute property specialist with over 17 years’ professional experience, incorporating varied domestic and international property and finance expertise. Richard
has worked with numerous listed and unlisted property funds and investment management groups in professional services (EY), and as a commercial finance manager for a FTSE 250 listed property developer. Immediately prior to joining Occasio, Rich served as corporate strategy for ANZ’s Corporate & Commercial Banking division and as a relationship manager in ANZ’s specialist commercial property segment of ANZ, covering development and investment debt facilities over multiple sub asset classes, including a number of standalone Woolworths supermarkets and shopping centres.

Richard is a Chartered Accountant and holds a Bachelor of Science in Economics and a Property Asset Management Industry Diplo
ma from the Property council of Australia.

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Jason Fischman

Associate Director

Jason has spent the last 20 years working in finance, property development, development management, and project management in various forms, as a contractor, employee and company director. 

Jason works within the origination team as investments transition from finalisation of deal structuring to financial close, and then managing the relationship with the

developer counterparties throughout the life of each investment.

Prior to joining Occasio, Jason has held management responsibility for significant loan portfolios and property investments, which supported delivery of assets in the medium and high density apartment, commercial  and industry property sectors. Jason has extensive experience, having developed projects in his own right, with end-to-end management over the full project lifecycle.

Jason holds a Bachelor of Commerce from Monash University and a Certificate IV in Finance & Mortgage Banking.

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Maximillian Eich

Investment Manager

Max has over 8 years’ experience in private equity and Australian real estate investment and development. Over his career he has had the opportunity to work with both fund managers and family offices to originate and deliver on real estate investment opportunities throughout Australia and across multiple asset classes.

Prior to joining Occasio, Max was an Associate at Blackoak Capital Partners, where he was responsible for research and analysis of new investment strategies, asset management, fund

structuring, and investor relations. Max’s prior roles also include being a Director of Matthaus Ltd Partnership, a partnership undertaking a residential land subdivision comprising 4,000 lots, as well as spending 5 years as an Investment Officer for the Karakin Foundation, a U.S. based foreign charitable trust with AUM of circa $300 million.

Max holds a Bachelor of Science (Finance) from Metropolitan State University of Denver and is RG146 compliant.


Sam Tieu

Portfolio Analytics Manager

Sam has over 15 years’ experience in property development, funds management and insurance businesses, including MAB, ISPT, National Australia Bank and Medibank Private. Across these sectors, he has combined both technical and quantitative modelling skills to develop sophisticated decision-making algorithms to optimise investment outcomes. Sam holds a Bachelor of Science and MBA (Exec).


Michael Stapleton


Michael spent 25 years with ANZ, lending money to small, medium and large businesses.  In 2011 he left the banking sector and in 2012 established a Virtual CFO practice to use his financial knowledge, skills and experience to provide financial control and CFO services to owners of small and medium businesses. Michael holds a Bachelor of Commerce and has completed the CPA programme.

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Ian Beattie

Independent - Investment Committee

Ian has over 39 years experience as a commercial lawyer, mostly practicing  in Banking and Finance.  The last 20 years, Ian was a partner with the law firm Maddocks until retiring as a partner in June 2021 and now continues as a consultant. Previously Ian was a partner at Deacons, now renamed Norton Rose Fullbright.

Ian’s practice area includes acting for financiers, banks and non bank finance institutions and also for developers in the review of finance documents required for construction of their projects, both built form and broad acre residential.

Ian has a wide range of experience in financial transactions from both the perspective of financiers and borrowers and brings these skills and deep experience to Occasio ‘s Investment Committee as an independent member