Top Private Equity Firms in Australia

Australia, with its robust economy and vibrant business landscape, is a key destination for private equity (PE) investment in the Asia-Pacific region. 

Home to a mix of strong local players and global powerhouses, its PE firms invest across a diverse range of industries, from technology and healthcare to consumer goods and natural resources.

In this article, we’ll explore the top private equity firms in Australia, highlighting their portfolio, investment focus, and notable contributions.

1. Pacific Equity Partners (PEP)

Founded in 1998, Pacific Equity Partners is widely regarded as the largest local private equity firm in Australia and New Zealand. With expertise in buyouts and growth capital, PEP has a formidable track record of transforming market-leading businesses. 

The firm is known for its "Sector-Based Thematic" approach, allowing it to develop deep expertise in areas like consumer products, healthcare, and industrial services.

PEP’s strategy involves partnering closely with management teams to drive operational improvements and strategic growth. A standout investment includes their acquisition and subsequent growth of Patties Foods, the company behind iconic brands like Four'N Twenty pies. 

Other significant deals include the take-private of Vocus Group and their investment in the Allied Universal Topco security services. Through its various funds, including a Secure Assets Fund, PEP continues to be a dominant force in the Australasian market.

2. BGH Capital

Established in 2017, BGH Capital quickly became one of Australia's most influential private equity firms, raising the largest-ever first-time fund in the country's history. 

The firm was founded by seasoned investment professionals Ben Gray, Robin Bishop, and Simon Harle, whose collective experience has guided BGH to execute large and complex transactions. 

BGH specializes in control-oriented buyouts of market-leading companies across Australia and New Zealand. The firm's portfolio is a testament to its ambitious strategy, featuring major investments in companies like the education provider Navitas and entertainment giant Village Roadshow. 

BGH utilizes its deep local market knowledge and extensive network to identify opportunities and create value. Their hands-on approach involves working with portfolio companies to optimize strategy, operations, and governance, positioning them for long-term, sustainable growth.

3. Quadrant Private Equity

Quadrant Private Equity has been a leading force in the Australian mid-market since its founding in 1996. The firm specializes in providing growth capital and management buyouts for companies with enterprise values typically between AUD 100 million and AUD 500 million. 

With a diverse portfolio spanning retail, healthcare, media, and technology, Quadrant plays a central role in shaping Australia’s private equity landscape.

The firm is best known for its “buy and build” strategy, in which it acquires a platform company and drives expansion through targeted bolt-on acquisitions. A standout example is its investment in Fitness & Lifestyle Group (owner of Fitness First Australia), which Quadrant significantly scaled through a series of strategic acquisitions.

With over 80 investments since inception, Quadrant has demonstrated a consistent ability to partner with management teams, accelerate growth, and transform businesses into industry leaders. Its track record underscores both deep sector expertise and long-term value creation across the mid-market segment.

4. Crescent Capital Partners

Crescent Capital Partners is a leading private equity firm specializing in high-growth, mid-market companies across Australia and New Zealand. Founded in 2000, the firm has built a strong reputation for its hands-on, operationally driven investment style.

Crescent typically targets businesses with enterprise values between AUD 100 million and AUD 500 million, positioning itself as a key player in the region’s mid-market segment.

One of Crescent’s standout investments was in Life-Space Group, a probiotics company that expanded into a global brand before its highly successful sale. This case highlights Crescent’s ability to identify scalable businesses and accelerate their growth potential.

Their strategy centers on working collaboratively with leadership to drive growth through initiatives like international expansion, new product development, and operational efficiencies. 

5. Allegro Funds

Founded in 2004, Allegro Funds is Australia's leading private equity firm specializing in turnaround, special situations, and transformation investments. Unlike traditional buyout firms, Allegro aims at companies facing challenges or undergoing significant change, providing not just capital but deep operational and strategic expertise. 

Their hands-on approach is designed to stabilize, restructure, and ultimately grow the businesses they invest in. A landmark deal for Allegro was its role in the consortium that acquired Virgin Australia, guiding the airline through a complex restructuring process. 

Another key investment is Toll Global Express, where Allegro is working to transform the logistics company into a more agile and efficient operator. 

Allegro's unique work on complex situations has carved out a critical niche in the Australian PE landscape, demonstrating their ability to create value where others might not.

6. The Carlyle Group

While a global powerhouse, The Carlyle Group maintains a significant and influential presence in Australia, with a dedicated team in Sydney. Since opening its Australian office in 2005, Carlyle has leveraged its vast global network, deep industry expertise, and financial strength to invest in large-scale Australian businesses. 

The firm participates in a range of transactions, from buyouts to growth capital investments. In Australia, its portfolio has included major names such as private hospital operator Healthscope, wine company Accolade Wines, and pharmaceutical business iNova Pharmaceuticals.

The firm’s key advantage is its ability to combine global resources with local insights, helping Australian companies expand internationally and navigate complex market dynamics. This global perspective makes Carlyle a partner of choice for businesses with significant global growth ambitions.

7. Advent Partners

Advent Partners is one of Australia’s most experienced mid-market private equity firms, with a history dating back to 1984. The firm aims at partnering with businesses to support their growth, typically investing in companies with an enterprise value of between A$30 million and A$200 million.

The firm invests in sectors where they have deep expertise, including technology, consumer staples, and healthcare. Advent is known for its collaborative, hands-on approach, helping companies with strategic planning, operational improvements, and M&A. 

A notable investment is their partnership with gourmet food producer The Gourmet Garden, which they helped expand internationally before its sale to McCormick & Company.

8. Anchorage Capital Partners

Anchorage Capital Partners is a specialist private equity firm with expertise in operational turnarounds and special situations. Founded in 2007, Anchorage targets companies that are underperforming or have complex challenges, providing both capital and deep operational expertise to stabilize and transform the business. 

They are known for taking a hands-on role in driving significant change. The firm works with businesses that have strong underlying fundamentals but require financial or operational restructuring to achieve their potential. 

A landmark deal was their acquisition and successful turnaround of the department store David Jones, which they later sold to Signa Holding. Their emphasis on complex situations makes them a unique and crucial player in the Australian market.

9. Anacacia Capital

Anacacia Capital is a private equity firm that specializes in the lower mid-market, specializing in small-to-medium enterprises (SMEs) in Australia and New Zealand. The firm was founded to provide both capital and strategic support to successful, established businesses looking to enter their next phase of growth. 

Anacacia often partners with founders and families, bringing in professional management and governance structures. The firm’s approach involves helping SMEs scale, professionalize their operations, and expand into new markets. 

Anacacia has invested in a diverse range of businesses, from manufacturing to technology and business services. Their emphasis on the SME sector fills a critical gap in the market, providing growth capital to the backbone of the Australian economy.

10. Next Capital

Next Capital is a leading Australian mid-market private equity firm established in 2005. The firm specializes in expansion capital and management buyout opportunities, typically investing in companies with an enterprise value between A$50 million and A$200 million. 

The team at Next Capital has a wealth of experience in building and growing businesses across various industries. The firm takes a partnership approach, working closely with management teams to execute growth strategies. 

Their portfolio is diverse, with investments in sectors such as healthcare, technology, and consumer products. A key investment was their backing of JB Hi-Fi, which they helped grow into one of Australia’s most successful listed retailers.

Let’s Recap

Australia is home to some of the most influential private equity funds in the APAC region, contributing to the success of numerous industries and companies. These firms stand out due to their expertise, strategic investments, and the ability to create lasting value.

If you're an entrepreneur or a business owner looking to take your company to the next level, identifying the right PE firm is crucial. Private Equity List makes this process easier by providing a fast and easy-to-use platform to identify relevant private equity firms for your project. 

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