And the ACT Brumbies are hoping the city's favourite son will lead the franchise to unprecedented highs on and off the pitch.

The Brumbies make no secret of their expectations.

While they run a lean operation, Brumbies chairman Matt Nobbs was confident Larkham had been handed the tools to achieve success on and off the field.

"He's got stability with assistant coaches, CEO Phil Thomson, the board is stable," Nobbs said.

"If he can get the best out of them, hopefully they can go one further and play in a final. The other important thing for this team is to be a part of the community. We are a community team and we want to win games and be a team people want to turn up and cheer for."

While he officially starts work on Monday, Larkham has been communicating with players throughout the Super Rugby season, including flyhalf Noah Lolesio.

He has spent the past few weeks in Canberra preparing to commence his second stint as the Brumbies coach.

Larkham led the team from 2014 to 2017, the side enjoying largely positive results.

Since then, the former flyhalf has travelled overseas and broadened his horizons.

In three seasons at Munster, Larkham guided the Irish side to the 2021 Pro14 grand final and into the knockout phase of the European Champions Cup.

For Nobbs, the coach's growth was immediately clear when he sat down for a job interview last year.

"He's acknowledged there are things he could have done a lot better in his first stint here. He's been up front about that and he's rectified a lot of those things.

"The best thing to happen to Bernie was to go and experience another part of the world, a different way of playing rugby.

"It's an exciting time to come into the program. Dan [McKellar] has left it in fantastic shape. I's a great opportunity to build on that."

Larkham's return comes as the Brumbies prepare to take the next step on the path to private equity after a report was presented to the board on Wednesday.

The document outlined the options available, the club to spend the coming weeks finalising an internal process before beginning formal discussions with potential investors.

The Brumbies have vowed to consult with the community throughout the private equity process.

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An eventual deal is no certainty, but the club will consider any offer that aligns with the franchise's values.

"We've been transparent with our members in saying we would have a look at it," Nobbs said.

"The way the world's going, with private investment into sport, it's happening in football, rugby union, a host of sports. If it's the right fit, we'd be mad not to look at it."

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