Private Capital
Unlocking value with private capital
Private capital markets have expanded rapidly in recent years, evolving into a diverse and sophisticated ecosystem that spans numerous asset classes, including private equity, venture capital, private credit, infrastructure and real assets. This growth has been fuelled by a broadening range of managers (some covering multiple asset classes and others focused on a single asset class) as well as broadening pools of capital, beyond traditional institutional investors; sovereign wealth funds and pension funds to family offices and high-net-worth individuals.
How we can help
Allens is uniquely positioned to support clients across the full lifecycle of private capital investments. From fund formation and regulatory compliance to capital deployment, portfolio management and exit strategies, we provide integrated legal services to deliver a commercial outcome. By combining deep market insight with practical, commercial legal solutions, we help clients navigate complexity and achieve strategic objectives across the entire private capital market.
Market-leading expertise across private capital
At Allens, we work with a broad spectrum of prominent private capital GPs and LPs across all asset classes. Our deep sector knowledge and multidisciplinary expertise allow us to support clients across the full lifecycle of investing.
We’re with our clients every step of the way, from initial investment through to exit. Our integrated approach ensures seamless and strategic legal support across a wide range of areas, including:
- Mergers & Acquisitions
- Funds
- Superannuation
- Technology
- Projects and Development
- Disputes and Investigations
- Banking and Finance
- Tax
- Competition
- Consumer and Regulatory
- Intellectual Property, Patents and Trade Marks.
Trends shaping private capital
Private capital continues to evolve, driven by innovation, investor demand and regulatory developments. Allens remain ahead of the curve, advising clients on key trends and issues affecting the private capital industry, including advising on:
- creative exit strategies, including secondaries transactions, continuation funds and NAV facilities.
- alternative ways to source liquidity (eg through co-Investments).
- heightened oversight from bodies such as ASIC, ACCC and FIRB, including assisting shaping deal structures and compliance strategies.
- investment into new and emerging asset classes driven by macro-economic and socio-economic needs.
- integration and adaptation of AI, including their use for deal sourcing, due diligence and portfolio management.
Domestic insights backed by global perspective
Through our international alliance and longstanding relationships with leading overseas law firms, Allens offers clients seamless access to global trends, cross-border expertise and international legal services. This network enables us to support clients with multi-jurisdictional investments, regulatory compliance and strategic decision-making across key global markets.
Partnering for success
Whether you're a GP or LP or focused on one or more asset classes, Allens is committed to helping you thrive in a dynamic investment landscape. Our collaborative approach, commercial insight and legal expertise ensure you’re well-positioned to make confident decisions and achieve long-term success.
Experience
Bain Capital
Advised Bain Capital on its acquisition of Perpetual Limited’s financial advice, wealth management and traditional trustee businesses.
Aware Super
Advised Aware Super on its successful merger with TelstraSuper, creating a combined fund with approximately $237 billion of funds under management.
La Caisse
Advised La Caisse, a global investment group based in Québec, Canada, on its $1.7 billion commitment in hybrid securities to be issued by NEXTDC Limited, Australia’s largest listed data centre developer.
Stonepeak
Advised Stonepeak on the investments in Aura Holdings, a Queensland based retirement village developer and operator, and in the Allgas gas distribution network.
Blackstone
Advised Blackstone on the US$10 billion financing of AI infrastructure company Firmus.
Advent International
Advised Advent International on the acquisition of Automic Group, a leading technology company delivering financial market infrastructure to serve the mission-critical needs of investors and issuers in Australia and New Zealand.
TPG Capital
Advised TPG Capital on the acquisition of ASX-listed Infomedia Limited by way of scheme of arrangement for an equity value of approximately $651 million.
KKR
Advised KKR on the acquisition of ProTen Pty Limited, one of Australia’s largest agricultural infrastructure businesses, from Aware Super.
Brookfield Asset Management
Advised Brookfield on the $3.85 billion sale of retirement living provider Aveo to The Living Company, the parent entity of Scape Australia – Australia's largest direct real estate deal.
Pacific Equity Partners (PEP)
Advised PEP on its acquisition of ASX-listed SG Fleet Group Limited, a leading provider of fleet management, vehicle leasing and salary packaging services, by way of scheme of arrangement for an enterprise value of $1.4 billion by way of scheme of arrangement. This transaction was the largest announced take-private deal of 2024.
Macquarie Asset Management, ART and STC
Advised Macquarie Asset Management, ART and STC on the sale of a 74.25% interest in Queensland Airports Limited, via a competitive sale process.
BGH Capital
Advised BGH Capital on the acquisition of Aspen Pharmacare's Asia Pacific business for ~$2.37 billion.
Bain Capital consortium
Advised the Bain Capital consortium on the debt for equity acquisition of Accolade Wines (now Vinarchy) and the carve-out acquisition of Pernod Ricard's ANZ and Spanish wine businesses.
CPP Investments
Advised CPP Investments on the A$24 billion acquisition of AirTrunk, a leading Asia Pacific data centre operator, alongside Blackstone, from Macquarie Asset Management and other investors including PSP Investments.
Global Infrastructure Partners
Advised leading infrastructure investor and longstanding client Global Infrastructure Partners (GIP) on the establishment of its largest Australian fund to date, the GIP Australia Fund II (GIPA II).
Bain Capital
Advised Bain Capital on the sale of Estia Health, one of Australia's leading aged care providers, to Stonepeak.
Morgan Stanley Infrastructure Partners
Advised Morgan Stanley Infrastructure Partners on the acquisition of a 49% stake in a private haul road from ASX-listed Mineral Resources, for a total consideration of up to $1.3 billion.