Gilbert + Tobin has advised For Purpose Investment Partners (FPIP) on its acquisition of Luson Aged Care, a state-of-the-art Victorian residential aged care provider.
FPIP is a market leading not-for-profit social impact investment fund manager, created to bring together private sector capital and capabilities into large-scale businesses that create significant positive social impact. The acquisition marks FPIP's first investment in the aged care sector, and it is focused on expanding affordable and accessible offerings from independent living through to residential aged care. Luson Aged Care is the first acquisition made by FPIP’s recently established not-for-profit entity FP Aged Care Australia (FPACA), with FPACA looking to expand its footprint through further residential aged care acquisitions in the near term.
Tim Gordon said, “we are thrilled to have advised FPIP on its first investment in the aged care sector. The Treasurer, Dr Jim Chalmers, in his recent essay pointed out that businesses in these social sectors are both vitally important and can generate solid returns, but they find it difficult to attract private capital. That’s one of the reasons it’s exciting to be part of transactions like this. We expect that the success of FPIP and its investee businesses in these areas of critical social need will demonstrate the enormous possibilities in the impact investing space.”