Scaling investment for positive impact
Institutional investment is putting Signature Care acquirer For Purpose Aged Care Australia on track to become a top 15 aged care provider in Australia, the company’s investment director will tell this month’s Impact Investment Summit Asia Pacific.
For Purpose Aged Care Australia is aiming to grow to 5,000 beds and set a new standard of aged care, the company’s investment director tells Australian Ageing Agenda.
Last April social impact investment manager For Purpose Investment Partners and its platform FPACA announced the acquisition of family-owned residential aged care provider Signature Care, which included 1,400 aged care places and a pipeline of 1,100 more.
The deal followed the March 2023 acquisition of not-for-profit aged care provider Luson, which included 305 places and a pipeline of an additional 136, and brought the two companies together under FPACA.
Other target areas of focus for FPIP include disability, mental health, skills education, and social and affordable housing.
Ahead of her appearance on an inclusive social infrastructure panel at the Impact Investment Summit Asia Pacific in Sydney this month, FPIP investment director Ellen Jones said aged care was a critical sector for the group.
“As a social impact investment fund manager, we believe aged care is a critical social sector where our impact drivers of quality and inclusion are paramount, delivered by a skilled caring workforce. With institutional investment into our platform, we’re on track to become a top 15 provider in Australia,” Ms Jones tells AAA.
The Impact Investment Summit Asia Pacific brings together institutional investors, advisors, foundations, family offices, government, organisations and enterprises to explore investment opportunities that couple financial returns with social and environmental outcomes.
The focus is on scaling investment for positive impact – which Ms Jones said was key to their strategy.
“Scale matters, and we are building a national presence that is locally focused. We’re creating a network of community aged care homes where demand exists, particularly in regional Australia where communities have been underserved.
“By delivering exceptional care for residents in connected communities, our ambition is to grow to 5,000 beds while setting a new standard in aged care.”
At the summit delegates will hear from keynote speakers, expert panels, dealmakers, and investors.
The two-day program includes four concurrent steams on:
- Climate & Environment/ClimateTech, which looks at accelerating decarbonisation by transitioning faster to clean energy and a circular economy
- Communities – aged care, built environment, childcare, housing, and inclusion, which focuses on ensuring safer, fairer, more inclusive communities for all
- Education/EdTech, which aims to improve outcomes across all ages through better access to quality education tools and services and closing the education gap
- Healthcare/Biotech & Medtech, which is about developing treatments and services to provide affordable, accessible healthcare and improve preventative and early intervention.
Other sessions will see companies and funds in each sector pitch to investors, providing attendees with live capital raising opportunities.
The Impact Investment Summit Asia Pacific takes place at the International Convention Centre on 26-27 March. Register here
Australian Ageing Agenda is a media partner of the event
