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
Optus Towers - Australian Super
Advised Australia's largest industry superannuation fund, AustralianSuper, on the acquisition of a 70 per cent stake in Australia Tower Network (ATN) for approximately A$1.9 billion.
NSW Land Registry Services - Aware Super
Advised an Aware Super-led consortium on its successful $2.6 billion bid for concession from the NSW government to operate the land titling and registry operations of New South Wales Land and Property Information for a 35 year term.
Telstra - Future Fund
Advised a consortium comprising the Future Fund, Commonwealth Superannuation Corporation and Sunsuper, and managed by Morrison & Co, on the acquisition of a 49% non-controlling stake in Telstra's Towers business for A$2.8 billion.
Arnott's - KKR
Advised KKR on the approximately A$3.2bn acquisition of the Arnott’s business and the contemporaneous sale and leaseback of Arnott's Australian manufacturing facilities in New South Wales, Queensland and South Australia.
Healius - BGH Capital
Advised BGH Capital on the $500m acquisition of Healius' medical centres and dental clinics businesses and its separation from Healius' day hospitals and IVF clinics business.
Spark infrastructure - OTPP, PSP and KKR
Advised a consortium comprising Ontario Teachers’ Pension Plan Board, PSP Investments and KKR on the acquisition of all issued securities of Spark Infrastructure in an all-cash transaction for approximately A$5.2 billion.
Asciano - GIC (and others)
Advised a consortium consisting of Global Infrastructure Management, LLC (GIP), Canada Pension Plan Investment Board (CPPIB), CIC Capital Corporation (CIC Capital), GIC Private Limited (GIC) and British Columbia Investment Management Corporation (bcIMC) on the acquisition of Asciano Limited for cash consideration of $9.05 billion by way of scheme of arrangement.
Modern Star - PEP
Advised longstanding private equity client, Pacific Equity Partners (PEP), on the acquisition of the Australian and New Zealand operations of educational resources business, Modern Star, from Navis Capital.
Chipali toll road - CPPIB
Advised Canada Pension Plan Investment Board (CPPIB) on the acquisition of a 45% interest in PT Lintas Marga Sedaya, the concession holder and operator of the Cikopo-Palimanan (Cipali) toll road in Indonesia. The investment was in partnership with PT Baskhara Utama Sedaya, a wholly owned subsidiary of PT Astra Tol Nusantara.