For Purpose Investment Partners (“For Purpose”) has announced the acquisition of Catalyst Education and its subsidiaries (registered training organisations Selmar Institute of Education, Practical Outcomes and Royal College of Healthcare) from Anacacia Capital, the founders and current and former staff.
Catalyst Education is a leading private provider of vocational education and training (“VET”) with a focus on key social sector skills including early childhood education and care, aged care and disability care, and although predominantly Victorian-based, also has a growing presence in New South Wales and Queensland.
For Purpose has acquired Catalyst Education to drive further growth of the business, with the goal to become a nationwide market-leading provider of social sector skills training. This is For Purpose’s first acquisition in the Skills Education sector, with the sector being one of its five core areas of focus alongside Aged Care, Disability, Social & Affordable Housing and Mental Health. As a social impact investment firm, For Purpose considers the social impact delivered by its investments equally as important as the financial returns that the investment delivers.
For Purpose Director, Andrew Thorburn said “We are delighted to be investing in Catalyst Education. We think it’s a great business. It really helps people, it has a great reputation and is performing well. We look forward to working with Jo and her team on delivering quality training so that they can continue to have an impact in the community”.
Catalyst Education CEO, Jo Asquith commented “the most exciting thing for us is the alignment of values. What For Purpose are doing and the sectors that it is operating in, what we’re doing and how we’re trying to make an impact in the communities that we deliver our programs in is really well aligned, so I can see an incredibly bright future”.
Anacacia Capital Managing Director Jeremy Samuel added “It’s been great for the Anacacia team to work with Catalyst Education over the past few years helping them to expand and assist so many clients improve their skills. Congratulations to Jo and the Catalyst Education management and we wish them and Andrew and the For Purpose team all the very best for the future”.
For Purpose were advised by Gilbert + Tobin and PwC, while Anacacia were advised by Hamilton Locke and HLB.
The new Labor Government has not yet responded to the Social Impact Investing Taskforce's report, but as the AFR indicates, there are high hopes the Albanese Government will be attracted to its suggestions for policy reform, including the creation of a “social investing wholesaler” to direct and coordinate investment.
Our Executive Director Michael Traill, who chaired the taskforce, said government could help to “catalyse and crowd-in more funding” for social impact investing.
Read the full article here.
Our very own Michael Traill sat down with Alberto Lidji for a discussion on social investing in Australia, as part of the Do One Better Podcast.
The episode explores a range of topics including:
(1) An overview of philanthropy in Australia today.
(2) Going beyond grant-making and ensuring endowments are invested for impact.
(3) Do investment professionals genuinely value impact investing?
(4) How does a non-profit, impact investment manager actually work?
(5) How do you go about deal flow origination, and what does a deal look like?
(6) How do you go to market with an impact investment proposition?
(7) How will the impact investing market evolve in the coming years?
(8) Do most impact investment opportunities arise from private equity houses, philanthropic foundations, high net worth individuals, or elsewhere?
Former National Australia Bank boss Andrew Thorburn has re-emerged, joining a new originator and investor in deals to manage human services.
The new group, For Purpose Investment Partners, will seek to bring superannuation funding and corporate management skills into the aged care, mental health, disability, social housing and education sectors..
Our Social Impact Fund I will open to new investors shortly, following a successful first close of $67m in December 2021.
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