Two private equity deals advised and supported by Commonwealth Bank of Australia (CBA) have been recognised in the Australian Investment Council’s 2021 Investing for Growth Awards.

Allegro Funds’ investment in apparel retailer Best & Less won ‘Mid-Cap Investment’ deal of the year for transactions in the range $100 to $250 million.

Next Capital’s investment in flower grower and wholesaler Lynch Flower Group was named ‘Upper Mid-Cap Investment’ deal of the year for transactions in the range $250 to $500 million. 

CBA Head of Private Equity and Structured Financing Group, Gautam Rao, said: “Both these successful transactions have helped provide the growth capital needed by these businesses to progress their exciting development plans and we are delighted they have received this recognition.”

CBA General Manager Corporate Finance and ESG, Jane Thomson, said: “Our business is focused on backing our clients as they grow and evolve, and we are proud to have supported them on this journey.”

CBA’s Private Equity Financing Group is focused on supporting large and mid-cap private equity opportunities in Australia and New Zealand. The 12 strong team has broad based underwriting capabilities including unitranche and A$ term loan B structures, alongside bank lending.