Alecon Private Equity Access Fund
/ Your gateway to the lower-mid market — Australia’s growth engine
Aligned capital. Mid‑market focus.
We’re partnership-style investors, working side by side with founders and management. We back Australia’s next standout business in Private Equity, investing in founder-led and family-owned businesses in the lower-mid market.
Why invest with Alceon
Diversify beyond listed markets
Add exposure to private Australian mid‑market companies and achieve genuine portfolio diversification.
Invest alongside the principals
Meaningful co‑investment from Alceon founders and staff in every opportunity creates strong alignment.
Target 20-25% IRR outcomes¹
The fund targets a 20-25% IRR across a 2 year deployment period and a 5 year harvest period. The process is disciplined and repeatable.
Proven mid‑market team
A 15-year track record delivering mid-market value creation with experienced deal teams.
Why Australian mid-market
Private companies drive Australia’s economy yet remain underinvested
They make up 99% of all Australian businesses. Mid-market private equity has consistently outperformed, offering diversification with less offshore risk.
We target the overlooked lower mid-market
This is where the next generation of standout businesses are emerging — creating outsized opportunities for investors.
We are industry-agnostic, but partnership-focused
We invest across the real economy, backing sectors with strong scalability and teams that thrive under a collaborative investment approach.
We structure for protection and alignment
Most investments use preference shares, providing downside protection and priority returns. Typical hold periods are 3–4 years. Alceon and staff co-invest 5–20% in every deal, ensuring full alignment with investors.
How the fund works
The Fund invests in Australian mid‑market businesses with strong management and clear value creation levers. Typical cheques are A$25–60 million in companies with EBITDA of A$5 million or more. Capital is deployed over 2 years, with an expected harvest period of about 5 years. Alceon principals co‑invest alongside clients in every deal, aligning interests. The Opportunity will only be available to wholesale clients (as defined under section 761G of the Corporations Act), or to investors in circumstances where disclosure is not otherwise required under the Corporations Act.
The Fund targets a 20-25% IRR across the investment cycle¹. Detailed terms are available in the Information Memorandum.
Investor webinar
Wednesday 22 October 2025, 10:30am – 11.00am AEDT
What you will learn
How mid-market co-investments are sourced and underwritten
Portfolio construction, deployment and exit timelines
Alignment and risk management through co-investment
Insights & resources
Explore insights, ideas and perspectives shaping Australia’s mid-market and private capital landscape.
Podcast
What we can learn from the private equity playbook
Alceon’s Zac Midalia joins the Equity Mates team to discuss how private equity has driven two decades of outperformance, what makes the mid-market compelling, and the lessons investors can take from Alceon’s approach.
Article
The ‘messy’ mid-market is Australia’s economic engine room
Most investors focus on the ASX, overlooking the thousands of private mid-market businesses driving jobs, revenue and innovation. This article explores why these companies represent one of Australia’s most compelling growth opportunities and why private equity capital is key to unlocking it.
Video
Sydney alternative investment week - Alceon private equity
Rahil Gupta joins Nina Dunn to discuss Alceon’s hands-on approach to private equity, the opportunities within Australia’s mid-market, and why partnership and empathy are key to lasting success.
Video
INDepth – Inside the Alceon private equity approach
Alceon’s Zach Midalia joins Lawrence Parker-Brown on The Inside Network to discuss Alceon’s investment philosophy, its focus on Australia’s lower mid-market, and how partnership, alignment and active value creation drive long-term results. Zach also shares insights on macro themes shaping private equity in 2025, from the energy transition to regulatory shifts, and explains why Alceon believes the lower mid-market remains Australia’s most compelling opportunity.
About Alceon
Alceon is a multi-strategy alternative investment manager with A$5.4 billion under management across Australia and New Zealand. We focus on alignment, disciplined execution, and long-term value creation. Our institutional platform combines rigorous governance with a boutique partnership model to structure and deliver complex transactions efficiently.
A$13.3b
Capital invested
A$5.4b
Funds under management
40yrs
Average experience of founders and principals
100%
Staff owned
As of June 2025.
FAQs
Who can invest
Wholesale or sophisticated investors as defined under the Corporations Act.
What returns are targeted
The fund targets a 25 percent IRR over a 2 year deployment period and a 5 year harvest period. Targets are not guarantees and capital is at risk.¹
What is the minimum investment
Details are available in the Fund Overview and the Information Memorandum. Request access via the form.
How is risk managed
The fund invests across multiple mid-market businesses, with meaningful Alceon co-investment to align interests.
How will my data be used
Only to manage your enquiry or registration and to send relevant updates. You can opt out at any time.
Get the full picture
Request our Information Pack to explore the Fund’s structure, strategy and performance, or register for the investor webinar here.
¹ Target returns are objectives only and are not guaranteed. Past performance is not a reliable indicator of future performance. This page contains general information only and does not take into account your objectives, financial situation or needs. Consider the Information Memorandum before making any investment decision. For wholesale or sophisticated investors only under the Corporations Act 2001 (Cth).