Thriving in Private Equity: Annette Abrahams, CFO at PresMed Australia

Private equity presents a distinctive landscape for finance professionals, and during our recent panel event, "Elevating to CFO: Thriving in Private Equity," Annette Abrahams, CFO at PresMed Australia, shared her insights into this dynamic sector.  

With a solid foundation as a Chartered Accountant, Annette's career has spanned various industries, including notable roles as Group Financial Controller at Avis and as a financial leader in healthcare.  

Annette’s entry into private equity was somewhat serendipitous. Although she had not initially set out to work in this field, her dissatisfaction with corporate environments led her to a startup opportunity at Cura Day Hospitals Group, backed by Archer Capital. “I was young enough to take a risk, and it turned out to be a pivotal moment in my career,” Annette reflected. Over 11 years, she progressed to the CFO position, gaining invaluable experience that would shape her future in private equity. 

Her journey underscores the unique challenges and rewards of being a CFO in a private equity-backed organisation. 

Distinctive Characteristics of Private Equity 

Having worked in both corporate finance roles and private equity, Annette has observed distinct differences, one of which is the supportive nature of PE investors. “In private equity, you have investors who genuinely want to work with you,” she said. Within this supportive environment she has enjoyed greater autonomy in decision-making and as CFO, has played a strategic role in shaping business direction. Having a seat at the table as a management shareholder, where her insights and voice held significant weight, is something she found particularly refreshing. 

The Rewards and Challenges of Being a Private Equity CFO 

However, one of the most rewarding aspects of her role has come from being involved across all areas of the business. “I need to be across everything, which enables me to make swift strategic decisions,” she explained. The opportunity to contribute meaningfully to the company's growth and to see the immediate impact of her decisions brings her immense satisfaction. The experience gained in private equity has equipped her with transferable skills applicable across various sectors. 

Alongside the rewards, Annette acknowledged that being a private equity CFO has its challenges. She pointed out that while PE investors provide valuable support, they often lack operational involvement. This requires CFOs to balance running the business with meeting investors’ expectations, especially during exit preparations. “Understanding what’s important to the PE firm in terms of reporting is crucial,” she advised. “They don’t like surprises.” 

Key Skills for Success in Private Equity 

Reflecting on her journey, Annette identified essential skills for those aspiring to succeed in a private equity CFO role. First and foremost, she said financial acumen is essential: “You must understand the numbers inside and out”. Resilience and flexibility are also vital, as the pace and demands of the role can be intense. Additionally, building trust through transparency and open communication with stakeholders is crucial for fostering strong relationships. 

For aspiring private equity CFOs, she said, “having a supportive CEO is essential” as is a strong leadership team. Moreover, she advised setting the company up for exit from the beginning to ease the process down the line. Ultimately, knowing what’s important to the PE firm and keeping them informed can lead to a successful partnership. 

To learn more on advancing your career in private equity, please contact us to discover how we can support your journey here.