Aquasia

What Aquasia does

Aquasia is an independent, staff-owned corporate advisory and funds management firm founded in Sydney in 2009 by former ABN AMRO executives Angus James and Colin McKeith. The firm operates two complementary business lines: Corporate Advisory (M&A, debt and equity capital markets, and capital management) and Funds Management, where it manages six wholesale-only credit and private equity funds (Enhanced Credit Fund, Private Investment Fund, Short Term Income Fund, Residual Stock Fund, Growth Equity Stile Fund) plus a 2024 deal-by-deal private credit origination platform (Aquasia Investment Services, AIS). All products are restricted to wholesale clients in Australia and New Zealand under AFSL 337872, distributed through major investment platforms including Netwealth, Hub24, Mason Stevens, Macquarie Wrap, and Praemium.

The firm has no proprietary technology platform; its competitive basis is human capital and institutional relationships. The ~20-person team is dominated by senior practitioners with 25-35+ years of experience at ABN AMRO, Citi, UBS, Macquarie, JPMorgan, Nomura, Credit Suisse, and the Big 4, and the firm holds proprietary credit analysis frameworks in RMBS, ABS, and private debt. Revenue is generated from management and performance fees on funds under management, fees on real estate credit syndication (minimum $2M participations, $15-50M facility sizes), and corporate advisory retainers and transaction fees on episodic M&A and capital markets mandates.

The track record is the central commercial asset: Aquasia Fund 1 (2010-2017) returned 30%+ IRR, Fund 2 (2011-2012) returned 25% IRR, the AIS team has originated ~$1B across 50+ loans with no losses on ~$700M of repaid deals since 2017, and the Private Investment Fund delivered 10.02% for the year ending May 2026 against a 10% target. Marquee advisory clients include Transurban, APA Group, and IPH Limited. Operations are staffed from Sydney headquarters and a Melbourne office, with no external institutional ownership.

Name

Aquasia

Legal name

Aquasia Pty Ltd

Website

https://aquasia.com.au

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Aquasia is an independent, staff-owned Sydney-based corporate advisory and funds management firm founded in 2009, managing six wholesale credit and private equity funds and providing M&A and capital markets advisory to corporate clients across Australia and New Zealand.

Ownership category

akta.pro rank

Product category

Corporate Advisory and Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro industry

PRIMARYBPAHADAC

M&A Advisory (Buy-side/Sell-side)

Business & Public Services/Professional Services (Legal, Accounting, Consulting)/Strategy & Corporate Finance Advisory

SECONDARYBPAHAOAG

Corporate Development & Strategic Partnerships Advisory (JVs, Alliances, Carve-outs)

Business & Public Services/Professional Services (Legal, Accounting, Consulting)/M&A, Transaction & Restructuring Advisory

SECONDARYFSACAAAI

Equity Capital Markets Advisory (Equity Issuance Strategy & Readiness)

Financial & Insurance/Capital Markets & Securities/Equity Capital Markets (ECM)

SECONDARYFSAAACAA

Comprehensive/Full-Service RIAs & Independent Wealth Managers

Financial & Insurance/Asset & Wealth Management/Registered Investment Advisors (RIAs) & Independent Wealth Managers

Keywords

• Corporate advisory services
• Wholesale credit funds
• Private debt investment
• Mergers and acquisitions
• Capital markets advisory

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Funds Management Fees: Management fees and performance fees from managing wholesale credit funds including Enhanced Credit Fund, Private Investment Fund, Short Term Income Fund, Residual Stock Fund, and Growth Equity funds. The firm acts as trustee and investment manager for these managed investment funds.
2. Corporate Advisory Fees: Advisory fees for M&A transactions, capital structuring, debt and equity capital markets mandates. Services include mergers and acquisitions, capital management, debt capital markets, and equity capital markets advisory.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Aquasia is an independent corporate advisory and funds management firm serving wholesale investors and corporate clients in Australia and New Zealand. Its corporate advisory practice delivers M&A, debt and equity capital markets, and capital management advice free from product conflicts. Its funds management business runs a suite of wholesale credit and private equity funds investing in Australian credit, fixed income, RMBS, private debt, residential loans and growth equity.

Product overview

Aquasia is an independent corporate advisory and funds management business established in 2009, offering two core service lines: Corporate Advisory (M&A, debt and equity capital markets, capital management) and Funds Management. The funds management portfolio comprises six distinct products: Aquasia Enhanced Credit Fund (established 2011, credit and fixed income), Aquasia Short Term Income Fund (2023, investment grade fixed income), Aquasia Private Investment Fund (2018, private debt), Aquasia Residual Stock Fund (2025, residential loan assets), Aquasia Growth Equity (including the Stile Fund), and Aquasia Investment Services (2024, real estate credit syndication). All funds are available to wholesale investors only (Australia and New Zealand).

Differentiator

Problem solved

Functional benefit

Brands

• Aquasia Investment Services (AIS): Established in 2024 to originate, syndicate and manage real estate credit opportunities across Australia and New Zealand. The team has a track record of originating and managing over $1 billion in investments.
• Aquasia Private Investment Fund (APIF)
• Aquasia Residual Stock Fund (ARSF)
• Aquasia Enhanced Credit Fund (AECF)
• Aquasia Short Term Income Fund (ASTIF)
• Aquasia Growth Equity Funds (AGEF)

Products and services

• Corporate Advisory Independent M&A, debt and equity capital markets, and capital management advisory services for Australian corporate clients. Delivered conflict-free with no product cross-selling.
• Funds Management Wholesale funds management specialising in public and private credit investing and private equity. Manages a suite of credit, fixed income, and private equity funds for wholesale investors in Australia and New Zealand.
• Aquasia Enhanced Credit Fund (AECF) Wholesale credit and fixed income fund investing in RMBS, other asset-backed securities, corporate bonds, loans and cash with at least 40% rated Investment Grade. Target return is Bloomberg AusBond Bank Bill Index + 3% (net of fees) over a 2-5 year investment horizon. Available on Netwealth, Mason Stevens, and Praemium.
• Aquasia Private Investment Fund (APIF) Wholesale credit fund investing in private debt and credit assets including private market debt lending, real estate, opportunistic credit and convertible notes. Target return of 10% per annum (net of fees) over a 3-5 year investment horizon. Available on Netwealth, Hub24, Mason Stevens, Macquarie Wrap, Powerwrap/Praemium, and Ausmaq/Clearstream.
• Aquasia Growth Equity (AGEF) Closed-ended private equity strategy providing access to unique opportunities through Aquasia's network. Invests in privately owned companies with expansion plans, high calibre management teams and clear exit strategies, including the Aquasia Growth Equity Stile Fund established for investment in Stile Education.
• Aquasia Short Term Income Fund (ASTIF) Wholesale fund investing in investment grade credit and fixed-income assets including RMBS and other asset-backed securities. All assets rated Investment Grade by external rating agencies. Target return is RBA Cash Rate Target + 1.5% per annum (net of fees) over a 12 month investment horizon. Hold a Lonsec research rating. Available on Netwealth, Mason Stevens, and Praemium.
• Aquasia Investment Services (AIS) Real estate credit origination, syndication and management service. Offers deal-by-deal private credit investment opportunities for managed funds and third-party investors, with minimum $2 million participation and typical loan facilities of $15-50 million for 1-3 year terms. Target assets include residential development, social real estate, hospitality, industrial, office, and retail. Team track record covers over $1 billion in originated investments since 2017 with no realised losses.
• Aquasia Residual Stock Fund (ARSF) Wholesale fund focused on Australian residential loan assets diversified by geography and asset type, with focus on residential residual stock and residential bridging loans. Target return range of 7-9% per annum (net of fees) over a 12-18 month investment horizon. Available on Mason Stevens.

Quantifiable outcome

• Private Investment Fund achieved 10.02% return for year ending May 2026 vs 10% target
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Perpetual Corporate TrustcoreOthersPerpetual acts as independent security trustee for all securities held in syndicated loan transactions arranged by Aquasia Investment Services. This provides governance and protection for syndicate lenders, ensuring securities are held independently of the loan arranger.
• One Registry ServicescoreTechnology or IntegrationProvides investor administration and registry services for Aquasia Enhanced Credit Fund and Aquasia Private Investment Fund. Investors access certificates, updates, webinar materials, and documents through One Registry Services portal.
• Lonsec ResearchminorOthersIndependent research firm providing ratings and analysis on the Aquasia Short Term Income Fund. Rating published June 2026.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles21 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aquasia