High-profile Australian stock picker Robert Luciano has sold off large stakes in two Regal-owned, ASX-listed listed funds he originally founded as he positions to launch his next venture, according to a report by the Australian Financial Review.

The report cites Luciano as confirming that he was the seller in two recent AUD4 million block trades in hedge fund VGI Partners, which he founded in 2008 and listed on the ASX in 2017, and Regal Asian Investments (formerly VGI Partners Asian Investments, which floated on the ASX two years later.

According to recent regulatory filings, Luciano's cumulative stake in the two funds prior to the sell-off, which comes just a month after he registered the business name ROSCA Capital Management amid growing speculation he was preparing to set up his own office, was around AUD30m.

While confirming that he will no longer be a sizeable shareholder in either fund, Luciano intends to retain his AUD120m stake in owner Regal Partners, which was created when Regal Funds Management merged with VGI Partners in mid-2022. Luciano announced his departure from the firm in November, following a months-long sabbatical, with Regal founder Phil King heading both funds since then.