Key Takeaways
- • Private equity funds are actively deploying capital into Australian assets after years of accumulation, with deal activity accelerating significantly over the past six months, according to Anthony Boogert, partner at Mallesons.
- • Major global PE firms including Ares, Brookfield, CVC, EQT, KKR, and Quadrant Private Equity are establishing or expanding Australian operations, creating substantial legal services demand.
- • Australian law firms have strategically expanded private capital transaction teams through lateral hires and internal promotions: Mallesons hired Niro Ananda from Clayton Utz; Corrs Chambers Westgarth brought on James Campisi from Simpson Thatcher and Tim Gordon from Gilbert + Tobin; Herbert Smith Freehills Kramer now operates a nine-person private equity specialist team.
- • Law firms have been preparing for this influx for several years, anticipating deployment of accumulated "dry power" by private capital funds, with current deal activity validating this long-term strategic positioning.
Summary
Private equity funds are beginning to meaningfully deploy capital into Australian assets after an extended accumulation period, triggering a surge in legal transaction work across major law firms. According to Anthony Boogert, a partner at Mallesons who has advised leading private capital firms including Affinity Equity Partners, Ares, Brookfield, CVC, EQT, KKR, and Quadrant Private Equity, the shift has been pronounced: "It's been talked about for a while, but in the last six months it really has actually taken off." This acceleration follows years of investor pressure on funds to deploy available capital and the establishment of additional global fund offices within Australia.
Law firms have been building private capital transaction capabilities in anticipation of this moment for several years. Mallesons has positioned itself aggressively with four private equity partners in Sydney and one in Melbourne, supplemented by four leverage finance partners within its corporate team. The firm reinforced its bench strength in 2025 through the lateral hire of private equity M&A specialist Niro Ananda from Clayton Utz. Herbert Smith Freehills Kramer has expanded through internal promotion, with partner Kam Jamshidi relocating from Melbourne to Sydney—where most fund offices operate—and now oversees a nine-person private equity specialist team alongside infrastructure specialists. Corrs Chambers Westgarth has scaled more aggressively, building a 30-partner corporate M&A and private equity division that added PE specialist James Campisi from Simpson Thatcher in May and recruited Tim Gordon from Gilbert + Tobin in the prior year.
The convergence of accumulated dry powder, increased fund deployment, and expanded legal capacity suggests institutional investors should expect sustained M&A activity in the Australian market. Law firms' multi-year strategic positioning now faces validation through actual deal flow, positioning them to capture significant transaction revenue as private capital continues targeting Australian assets.
Law firms have been building private capital transaction capabilities in anticipation of this moment for several years. Mallesons has positioned itself aggressively with four private equity partners in Sydney and one in Melbourne, supplemented by four leverage finance partners within its corporate team. The firm reinforced its bench strength in 2025 through the lateral hire of private equity M&A specialist Niro Ananda from Clayton Utz. Herbert Smith Freehills Kramer has expanded through internal promotion, with partner Kam Jamshidi relocating from Melbourne to Sydney—where most fund offices operate—and now oversees a nine-person private equity specialist team alongside infrastructure specialists. Corrs Chambers Westgarth has scaled more aggressively, building a 30-partner corporate M&A and private equity division that added PE specialist James Campisi from Simpson Thatcher in May and recruited Tim Gordon from Gilbert + Tobin in the prior year.
The convergence of accumulated dry powder, increased fund deployment, and expanded legal capacity suggests institutional investors should expect sustained M&A activity in the Australian market. Law firms' multi-year strategic positioning now faces validation through actual deal flow, positioning them to capture significant transaction revenue as private capital continues targeting Australian assets.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.