2023 was a year of recalibration for Australia’s private capital markets as fundraising and deal activity slowed. Still, Australia-based private capital assets under management stood at $139.0bn as of June 2023, doubling over four years. PEVC AUM has grown by 30% in 18 months, with $45.5bn for private equity and $20.0bn for VC. Most of the increase has been in dry powder. Real estate AUM as of June 2023 has grown 28% in six months from December 2022 to June 2023, similarly driven by a 71% jump in dry powder on the back of robust fundraising.
Preqin and the Australian Investment Council present the 2024 edition of our annual Australian Private Capital Market Yearbook. The report tracks activity in the Australian private capital industry using data contained in the Preqin Pro platform, as well as on-the-ground information collected by both Preqin and the Australian Investment Council.
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The Australian Investment Council is the peak body for private capital in Australia and has 200+ members who work to build strong businesses that support our communities, create new employment opportunities, and grow our nation’s economy. Members of the Council comprise the leading domestic and international private capital firms operating in Australia, and span private equity, venture capital, private credit, family offices, superannuation, and sovereign wealth funds, as well as leading financial, legal, and operational advisors. Our investment members directly or indirectly employ approximately 500,000 people across the economy, contribute almost 3% to GDP, and support entrepreneurship and local capability by investing in Australian industries and businesses. For more information, visit www.aic.co.