Rawlings Bolton Fund II: The Transformation of Australian Professional Services
Institutional investment is entering the professional services sector. Rawlings Bolton Fund II provides aligned, patient capital to accelerate transformation in one of Australia’s most trusted and resilient industries.
A sector at inflection
Australia’s professional services sector has entered a new era. When Grant Thornton Australia, one of the nation’s largest mid-tier accounting firms, appointed Greenhill to explore strategic equity partnerships, it signalled a structural shift. For the first time, institutional investors are being invited into the ownership and growth of leading accounting and advisory firms. With implied valuations approaching two times revenue (for very large firms with material scale and depth), the market now recognises the enduring quality of recurring revenues, margin potential, and professional goodwill within this sector.From thesis to execution
While many are still evaluating the opportunity, Rawlings Bolton Fund II has already acted. A signed term sheet secures our cornerstone platform investment: a Queensland-based accounting firm with > 150 professionals, decades of consistent performance, and a clear growth pathway to revenue and margin growth through automation, offshoring, and governance uplift.
This was not a brokered transaction. It is a proprietary, off-market opportunity sourced through more than 75 years of trusted relationships within the Bentleys and Rawlings Bolton networks.
“Proprietary access. Proven operators. Transformational potential.”
Alignment that endures
The selling partners are reinvesting one-third of their sale proceeds into Fund II, alongside our investors. This structure ensures powerful alignment of interests:-management, founders, and investors sharing the same long-term objectives for growth and value creation.
Fund II is designed for investors who value defensive, cash-generative assets and measured, institutional governance. The sector’s recurring revenue base, modest capital requirements, and stable client relationships make it an ideal foundation for value creation over time.
Institutional grade investment in a defensive sector
Fund II provides investors with access to a defensible, high-cashflow sector that is now ready for transformation. The Fund partners with firms positioned to benefit from consolidation, digital enablement, and succession renewal — while preserving the cultural DNA that sustains client trust.
Our investor community includes family offices, business owners, and strategic investors who understand the power of patient, well-governed investment.
Join the transformation
The cornerstone asset is secured. The transformation playbook is proven. Market validation is evident. Rawlings Bolton is finalising commitments from a small group of aligned investors who believe in responsible, generational investment.Disclaimer
Rawlings Bolton Investment Management Pty Ltd (ACN 677 357 863) is the appointed investment manager of the Rawlings Bolton Accounting & Financial Services Fund. It is a Corporate Authorised Representative of Bentleys (QLD) Advisory Pty Ltd (ACN 057 135 636), AFSL 274444.
The information contained on this webpage is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider whether the information is appropriate for you, having regard to your own circumstances, and seek independent financial advice before making any investment decision.
This webpage does not constitute an offer or solicitation to invest in any financial product. Past performance is not a reliable indicator of future performance. No representation is made, and no responsibility is accepted, for the accuracy, timeliness or completeness of information sourced from third parties.
Investments in managed funds carry risks, including the potential loss of capital. You should read the relevant disclosure documents, including the Financial Services Guide (FSG), before making any investment decision.
Use of terms such as “transformational potential” or “proven playbook” are illustrative only and should not be interpreted as guarantees of performance or outcomes. Rawlings Bolton does not provide personal financial advice via this website or any associated digital channels.