Corporate Finance
Private Capital
Access to private equity, family office and institutional capital.
Corporate Finance
Transaction and capital advisory across the investment lifecycle.
Overview
How we help.
Private capital has become a central source of funding for Australian large SMEs and ASX-listed companies. Private equity, family office, sovereign and institutional capital are all looking for quality assets — but accessing that capital requires the right positioning, the right introductions and the right structure.
Corson Fiske advises founders, owners and management teams on engaging with private capital. Our network covers domestic and international private equity, single and multi-family offices, and institutional co-investors.
We focus on matching capital providers to businesses where the fit is genuine — not just available.
Capabilities
- Private equity and growth capital introductions
- Family office advisory
- Minority investment structuring
- Management equity plans
- Sponsor selection and negotiation
- Co-investment arrangements
- Follow-on and top-up capital raises
- Exit advisory for sponsor-backed businesses
Client Situations
When clients engage us.
The issues that bring clients through our door tend to fall into familiar patterns.
Growth capital is being sought
A business needs minority or majority investment and wants introductions to the right sponsors.
A management team is negotiating
Management are being asked to roll over or co-invest and need independent advice.
A family office is considering a direct investment
A family office wants advisory support on a direct investment opportunity.
A sponsor-backed business is approaching exit
A portfolio company is preparing for sale and needs vendor-side support.
An unsolicited approach has been received
A potential acquirer has made contact. The board needs independent counsel on whether, when and how to respond.
A facility is approaching maturity
An existing debt facility is due for refinancing and the terms achievable in the current market need to be assessed independently.
Outcomes
What you can expect.
- Introductions to genuinely aligned capital providers
- Investment structures that reflect all parties’ interests
- Management equity arrangements that work
- Successful exits that reward all stakeholders
Client Success
Outcomes from recent engagements.
Indicative results from engagements within this practice area. Client details have been anonymised; outcomes reflect actual matters completed by the firm.
$95M
Transaction Closed
Sell-side M&A
Led a competitive sell-side process for a family-owned industrial business, achieving a $95M transaction with strategic trade buyer.
Industrial business
$28M
Capital Raised
Growth capital
Arranged $28M of senior and mezzanine capital for a healthcare group’s multi-site acquisition program.
Healthcare group
1.4x EBITDA
Valuation Uplift
Sale readiness
Delivered an 18-month sale readiness program that lifted the valuation multiple from 4.2x to 5.6x EBITDA at completion.
Wholesale distributor
Options & How They Work
Understanding Private Capital
Private capital has emerged as the dominant funding source for Australian mid-market businesses over the past decade — overtaking the ASX in volume of transactions involving established businesses. The category includes private equity, family offices, sovereign capital, superannuation-backed direct investment, and private credit funds. Each has distinct objectives, return expectations, investment horizons and governance styles, and the choice between them materially affects how the business runs after the investment is made.
Private Equity (Growth Capital)
How it works. A private equity fund takes a minority or majority stake in a business in exchange for growth capital, typically with a five-to-seven year holding period and an expected exit via trade sale, secondary buyout or IPO. Investment sizes range from $10M to $200M+ in the mid-market segment. The fund takes an active governance role, usually including board seats and formal reporting.
When it fits. Suited to businesses with proven profitability, scalable business models and a clear plan to grow enterprise value materially over the hold period. Founders should be prepared for active engagement and the eventual requirement to support an exit.
Family Offices
How it works. Single-family and multi-family offices invest directly in private businesses on behalf of the families they represent. Unlike private equity funds, family offices have no fixed fund life and often have significantly longer holding periods — sometimes permanent. Return expectations are typically lower than PE but more patient.
When it fits. Well-suited to founder-led businesses seeking a patient partner rather than a transactional investor, and to specific sectors (agriculture, property, heritage brands) where long-term ownership aligns with the asset profile.
Private Credit
How it works. Private credit funds provide debt-style capital — senior secured, mezzanine, unitranche or hybrid — to businesses that may not fit standard bank lending criteria. Structures are flexible, covenants are typically tighter than bank debt but more workable than equity, and pricing reflects the risk profile.
When it fits. Appropriate for businesses that need growth or transaction finance beyond what traditional banks will provide — leveraged buyouts, acquisitions, bridge situations, and businesses with atypical earnings profiles.
Sovereign and Institutional Capital
How it works. Sovereign wealth funds and large institutional investors (including super funds) increasingly make direct investments in Australian mid-market businesses, usually at the larger end of the market and often through co-investment alongside a lead PE sponsor.
When it fits. Relevant at scale — typically transactions above $100M — where the size of the investment and the long-term governance fit match the institutional investor’s mandate.
Minority Investment Structures
How it works. Not all private capital involves change of control. Minority investment structures — including preference shares, convertible instruments, structured equity and growth recapitalisations — allow founders to take chips off the table or fund growth while retaining operational control.
When it fits. Suited to founders who want liquidity without losing control, or businesses that need capital but are not yet ready for a full change-of-control transaction.
Benefits
Benefits of private capital.
- Access to growth capital at scale. Private capital can provide significantly larger investment amounts than banks or debt markets typically support, enabling transformational growth, major acquisitions or international expansion that would otherwise be unfundable.
- Strategic and operational support. Beyond the cash, most private capital providers bring portfolio expertise, commercial networks and operating capability that can materially improve the business during the holding period.
- Professionalised governance. The structured reporting, board governance and strategic discipline that come with private capital investment often lift the business to a standard that makes a subsequent exit significantly more valuable.
- Flexible structuring. Unlike listed markets, private capital can be structured around the specific needs of the business — earn-outs, ratchets, staged investment, preference structures and other mechanisms to align interests.
- Exit pathway preparation. Private equity partners in particular are explicitly focused on the exit, which means the business is run from day one with the goal of building value for a future sale or IPO — discipline that benefits founders regardless of the ultimate exit route.
Why Corson Fiske
Experience where it counts.
Clients engage Corson Fiske because they need advice they can act on — delivered by senior practitioners who understand both the technical detail and the commercial consequences. Every engagement is led by a partner with direct experience in corporate finance transactions.
Our integrated structure means tax, legal, accounting and advisory questions are resolved within a single firm. For clients operating across Australia, Asia, New Zealand or Asia, our office network in Sydney, Melbourne, Perth, Singapore and Auckland provides consistent advice across jurisdictions.
Our Approach
A refined four-phase method for every engagement.
Corson Fiske applies the same disciplined framework to every matter, regardless of scale. The phases below are not a marketing device — they are the actual structure our partners use to move clients from uncertainty to resolution.
Phase One
01
Understand
A confidential partner-led briefing to establish the facts, commercial drivers, timing pressures and stakeholder dynamics.
- Confidential scoping conversation
- Document and data review
- Stakeholder mapping
- Initial risk identification
Phase Two
02
Analyse
Structured technical and commercial analysis of every realistic option, with a clear view of risks, costs and likely outcomes.
- Technical legal and tax analysis
- Commercial modelling
- Risk-weighted options assessment
- Precedent and market benchmarking
Phase Three
03
Recommend
A written partner recommendation in plain English — not a list of caveats. We stand behind our advice and explain our reasoning.
- Clear written recommendation
- Implementation sequencing
- Stakeholder communication plan
- Contingency and fallback positions
Phase Four
04
Execute
Hands-on delivery of the agreed plan with partner oversight, regular milestone reporting and clear handback at completion.
- Implementation leadership
- Stakeholder engagement
- Milestone tracking and reporting
- Completion review and handback
Key Considerations
What clients need to know.
Engaging external advisors on any significant matter raises practical questions about scope, timing, cost and outcomes. We believe in being straightforward about each of these from the first conversation.
How engagements typically begin
Every engagement starts with a confidential initial conversation — usually 30 to 60 minutes — in which we listen to the situation, ask the questions needed to understand it properly, and share a view on whether and how we can help. There is no charge for this conversation and no obligation to proceed.
How we scope and price work
We prefer fixed-fee or capped-fee arrangements wherever the scope allows. Where the scope is genuinely uncertain — as in contested matters — we agree hourly rates upfront and provide regular fee updates against defined phases. We do not bill for internal discussions, file opening or routine administration.
Who you will work with
Every engagement is led by a partner with direct experience in the matter type. That partner remains your primary point of contact throughout. Specialist colleagues join the team where their expertise is required, but you will never be passed from person to person or find the partner you hired is no longer on the file.
How we handle confidentiality and privilege
All engagements are subject to strict confidentiality. Where legal advice is being delivered, it is provided through our incorporated legal practice and attracts legal professional privilege. We take document security, information handling and communications discipline seriously on every matter.
Get the right advice from Corson Fiske.
Confidential, no-obligation initial consultations with a partner who specialises in corporate finance transactions.