Private Equity

Greenwoods & Herbert Smith Freehills has a team of tax specialists that have a deep understanding of private equity structures and transactions. Our experience covers all aspects of private equity investment including:

  • Fund establishment
  • Tax structuring advice
  • Tax due diligence
  • Negotiation of share sale agreements
  • Structuring of management incentive plans    

Members of Greenwoods’ private equity team have presented at numerous Tax Institute conferences and published articles with The Australian Private Equity & Venture Capital Association Limited (AVCAL) in respect of the taxation of private equity.

We are regularly involved in advising on major Australian private equity transactions.

Private Equity Transactions

Allegro: Sale of The Ghan and Indian Pacific Rail

Greenwoods & Herbert Smith Freehills advised Allegro Funds on the sale of its 70% holding in Great Southern Rail.

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Scape: student accommodation projects

Greenwoods & Herbert Smith Freehills advised private equity firm, Telopea Capital, in relation to the acquisition of two prime sites by Scape Student Living, in which it is a significant investor.

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Private Equity Publications

20 Feb 2019  |  External Publications  |  Corporate and Mergers & Acquisitions  |  Private Equity

Taxing private trusts - a moving target

The Tax Institute of Australia has published a feature article by Cameron Blackwood, Graeme Cooper and Andrew White on taxing private trusts.

Taxing private trusts - A moving target - Taxation in Australia.pdf (629 kb)

13 Aug 2018  |  Riposte  |  Financial Services  |  Private Equity  |  Private Wealth

Tax Law Bites Trust Law on Franking Credits

The High Court of Australia has restored sanity in a long running saga in which a trustee purported to separate franking credits from the underlying dividends in allocations to beneficiaries. The Court held (as the parties now accepted) that this was not possible and that a contrary decision of the Supreme Court of Queensland in its trusts jurisdiction to which the Commissioner of Taxation was not party did not bind the Commissioner.

13 May 2016  |  Riposte  |  Private Equity

Startup funding

Can Australian startups use convertible notes to bridge the funding drought before 1 July? Director Toby Eggleston tackles this question in a post that previously appeared on

01 Sep 2015  |  Riposte  |  GST  |  Private Equity

Bitcoin: GST changes looming

An Australian Senate Committee Report slates a major shake-up of the tax treatment of digital currency including a reversal of the ATO view that it is subject to GST.

08 Jun 2015  |  Riposte  |  Private Equity

Income tax & crowdfunding

Crowdfunding - the act of obtaining funding online from a wide range of people - is a global phenomenon that allows individuals and businesses to raise funds in various ways for infinite purposes. But what are the tax consequences of the various forms of this new form of finance?

Income tax and crowdfunding - E Consett.pdf (715 kb)

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Private Equity team

Toby Eggleston



Cameron Blackwood



Aldrin De Zilva

Director, Head of Projects & Infrastructure


Richard Hendriks

Director, Head of Corporate and M&A


Sue Ann Khoo