In Private

Australia remains a highly attractive destination for private capital, with sustained investor appetite set against an increasingly complex regulatory backdrop. In this edition of In Private, we explore these dynamics, focusing on where capital is flowing, how value is being created and how legal and regulatory developments are shaping transaction execution.

We examine the continued surge in data centre investment and the practical constraints that will determine future growth, including grid capacity, energy supply and environmental considerations. We also consider the shift in investor focus toward operational value creation, particularly in real estate, where returns are increasingly driven by active asset management and platform scaling rather than passive ownership.

Alongside this, we look at key developments in deal structuring across private capital M&A, including evolving approaches to warranty and indemnity insurance and how these are influencing risk allocation and execution certainty. We also explore the increasing use of seller-arranged financing solutions, such as staple and portable debt, and their role in bridging valuation gaps, enhancing competitive tension and improving outcomes in competitive auction processes.

Finally, we assess the early impact of Australia’s ACCC merger control reforms, including changes in regulator engagement, notification expectations and approval timelines, and what this means for certainty and deal execution in the months ahead.