Alvia names inaugural private capital partner

Off the back of strong growth in its private markets offering, Brisbane-based investment firm Alvia Asset Partners has announced the appointment of its first head of private capital.

Seasoned private markets professional David Browne, formerly of Sydney-based PE firm Next Capital, will lead Alvia’s emerging private capital arm, “spearheading new private equity style opportunities”, notably in the lower mid-market segment, the firm said.

The role will seek to foster partnerships with established founder and family-led companies which demonstrate “strong resilience and attractive growth potential”, Alvia confirmed. The private capital arm will target investments with an EBIT range of between $5 million and $12 million.

Browne, who assumes the title of partner, will also join Alvia’s private capital investment committee.

Alvia reports that it has doubled assets under management (AUM) for its Australian private capital business over the past four years.

As of June 2023, private equity remains the second-largest private capital asset class, with AUM at $45.5 billion from $41.5 billion in December 2022.

The firm welcomed Browne’s “strong track record of realised returns and driving value creation”, noting his 14 years’ experience in mid-market private equity.

Most recently he held senior roles at private equity mid-market focused firms Next Capital, serving more than seven years as investment director, and nearly five years at Catalyst Investment Managers as associate director.

Browne also previously served as investment director at diversified investment and operating group Arowana International, and at Macquarie Capital Group across both principal and corporate advisory transactions.

Alvia chief executive Nathan Robertson said Browne’s expertise “will add significant breadth and depth to our existing private markets capabilities as Alvia continues to grow”.

“Private capital is a key strategic priority for our business moving into 2025, and David is well-positioned to support our efforts in this area.”

He added: “David’s strong track record makes him an extremely valuable addition to our team.”