A: Thanks for the question.

Unless your investment strategy otherwise prohibits, yes.

One very important point to note. If that private company is controlled by you, or a related party, then you will be subject to the 5% in-house assets rule. This is a link to an ATO video that explains the rule – you can also access a detailed ruling on the operation of the rule. https://www.ato.gov.au/super/self-managed-super-funds/investing/restrictions-on-investments/in-house-assets/

Regards