Highlights
· Established by For Purpose Investment Partners (FPIP), For Purpose Aged Care Australia (FPACA) is a not-for-profit aged care platform focused on achieving excellent health and wellbeing outcomes for residents and attracting and retaining quality staff.
· The acquisition will bring together aged care providers Luson and Signature Care under FPACA, led by Group CEO Matthew Filocamo.
· Backed by $85m commitment from institutional investors, FPACA will become a top-15 national aged care provider with this acquisition.
24 April 2024 - For Purpose Aged Care Australia (FPACA), owner of a leading not-for-profit aged care provider Luson, proudly announces the strategic acquisition of Signature Care, a provider of residential aged care services across Australia. This acquisition will see FPACA become a top-15 aged care provider in Australia with an initial 1,394 residential aged care places and increasing to over 2,500 places within two years across 18 sites in New South Wales, Victoria, Queensland, and Western Australia. Alongside this significant portfolio growth, FPACA is delighted to announce the appointment of Matthew Filocamo as Group CEO, commencing a new leadership era.
The FPACA Chair, Toby Hall, expressed enthusiastic support for both the acquisition and Matthew Filocamo's appointment, stating, "This is a transformative moment for FPACA and the broader aged care community in Australia. The acquisition of Signature Care is a strategic step that aligns with our mission to deliver exceptional care services to Australians from all backgrounds. We have demonstrated new and innovative ways of growing the sector to have a broader social impact that is customer centric. Matt and I have worked closely together with For Purpose Investment Partners for almost two years. Matt's experience and leadership in aged care make him the ideal leader to guide FPACA through this exciting next chapter."
With a mission to develop a model of aged care that achieves excellent health and wellbeing outcomes for residents of all socioeconomic backgrounds, FPACA's approach attracts top staff and enables residents to age in place with dignity and choice. This pivotal move, scheduled for completion on 1 June 2024, signifies a major advancement in FPACA's goal to improve aged care services nationally. FPACA currently own and operate Luson, a Victorian based aged care provider with three operational homes with 305 places and a further development site that would yield 136 places.
The acquisition of Signature Care merges the strengths and capabilities of both organisations, promising to enhance the care and services provided to older Australians and provide great benefits and conditions to staff. This partnership reflects a shared commitment to excellence and innovation in aged care.
FPACA was established by social impact investment manager FPIP. FPIP Founder and Executive Director Michael Traill AM said “We are very excited to reach an agreement to acquire Signature Care. We believe investors like FPIP have an important role to play as stewards of these crucial social assets going forward, ensuring residents get a great experience at an affordable price while also making sure that the business is run in a manner that delivers appropriate risk-adjusted returns for investors and attracts further capital to a sector which badly needs it. The business is in great hands led by Matt and supported by Toby as Chair, and we will look to support them to continue to grow the business."
Matthew Filocamo said "I am honoured and excited to lead FPACA into this new era. The partnership with Signature Care underscores our shared dedication to enhancing aged care in Australia. I look forward to driving our collective vision forward, fostering innovation, and making a meaningful impact on the lives of those we serve."
Signature Care Director, Amal Witnish, said “It has been a privilege over the past 3 years to develop the business to this point and make Signature Care what it is today, a leader in the provision of high-quality care and accommodation, with embedded IT, enabling person-centred care. FPACA and Luson, as not-for-profits, will provide additional incentives to attract and retain staff through salary packaging and other employment benefits and will ensure residents receive quality care by retaining and further advancing Signature Care’s innovation and investment in the sector.”
There will be no disruption to residents or employees of Signature Care’s and Luson’s businesses during the transition of ownership, and the businesses will continue to operate under their individual brands for the foreseeable future overseen by the Group CEO and Board.
The transaction is contingent on receiving the necessary approvals from the Department of Health and Aged Care. The parties were introduced by Amicum Pty Limited, FPIP were advised by Gilbert +Tobin and PwC, and Signature Care were advised by K&L Gates, Madgwicks Lawyers and Deloitte.
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About For Purpose Investment Partners (FPIP)
For Purpose Investment Partners is a not-for-profit social impact investment manager, created to pursue an important mission; bringing private sector capital and capabilities into sizeable businesses and projects to create significant social impact. Established in 2018 by pioneering impact investor Michael Traill AM, FPIP have grown to have $185m of funds under management.
Media contact
For interviews or background information please contact
Enquiries@fpinvest.com.au| 0405 306 414
23 June 2026 - FP Ability is pleased to announce the appointment of Mark Powell as Chief Executive Officer of specialised meal delivery businesses Able Foods and Tender Loving Cuisine (TLC). Mark will commence in the role on 3 August 2026.
Mark brings more than 20 years of senior executive experience in the fast moving consumer goods (FMCG) sector. His expertise spans sales, marketing, procurement, and supply chain. He joins FP Ability from NAFDA, where he served as General Manager Australia and New Zealand. In that role he drove growth, integrated new markets, and managed operations for the member-owned cooperative.
Throughout his career, Mark has scaled businesses, led high-performing teams, and built enduring customer relationships. His focus on consultative planning and his commitment to business development position him well to lead FP Ability through its next phase of growth.
'Mark's experience scaling businesses in the FMCG sector, combined with his alignment to our mission, makes him the right leader for FP Ability at this stage of its growth,' said Rob Blackwell, Executive Chair of FP Ability. 'Able Foods and TLC provide safe, nutritious meals to older Australians and National Disability Insurance Scheme (NDIS) participants every day. Mark understands both the commercial discipline and the social purpose that sit at the heart of these businesses. We look forward to working with him as we continue to grow their impact across the aged care and disability sectors.'
'I am delighted to join FP Ability and to lead two businesses that make a real difference to people's lives every day,' said Mark. 'Able Foods and TLC have strong foundations and committed teams. I look forward to working with them to innovate, broaden what we offer, and reach more of the clients who rely on us.'
The 2026–27 Federal Budget delivered the largest savings package on record ($63.8 billion) alongside a major tax reform package. We have completed an initial review of what this means for For Purpose Investment Partners and the sectors where we invest.
Our overall view - this is a net positive Budget. Our existing portfolio is well positioned. Our pipeline benefits from record housing investment and supply-side reform. The reform agenda creates clear openings for advocacy on issues that matter to our investors and our sectors, and ultimately the people we are creating impact for.
Implications for our portfolio
•Aged care — positive. New capital subsidies of $30 per supported resident per day for newly built homes (payable up to 25 years) directly improve returns on greenfield and expansion stock. A further $1.1 billion sits in Contingency Reserve to implement recommendations from the Aged Care Accommodation Pricing Review.
•Specialist Disability Accommodation (SDA) — neutral. The 160,000 participant reduction is targeted at lower-support-needs cohorts redirected to Thriving Kids and Foundational Supports. Our SDA assets focus on the highest-needs cohorts and are not expected to be materially affected.
•Disability services — mixed. National Disability Insurance Scheme (NDIS) reform is expected to reduce the number of participants by 160,000 to deliver $37.8 billion in savings, and we expect modest near-term volume risk for service providers during the transition. Mandatory registration of high-risk providers and continuation of the Fraud Fusion Taskforce favour quality, registered, scaled operators, providing a structural tailwind for our investment thesis over time.
•Skills education — neutral. No material new measures affecting current operations.
Implications for our pipeline
•Social and affordable housing — positive. Housing investment lifts to a record $47 billion. The negative gearing and capital gains tax (CGT) reform package redirects investor demand from established property to new builds. Build-to-rent developments and private capital supporting government housing programs are explicitly exempt. The new $2 billion Local Infrastructure Fund supports unlocking new supply.
•Broader disability services — positive structural tilt. The same registered-provider and integrity reforms favour quality scaled operators, directly aligned with the FPIP thesis. The $7 billion Foundational Supports and Thriving Kids programs open new state-delivered markets outside the NDIS.
•Early childhood education and care — neutral with marginal upside. Thriving Kids in early childhood settings ($139.7 million over 5 years) may open adjacent revenue stream. The Inclusion Support top-up ($54.8 million in 2026–27) adds modest margin for services supporting children with additional needs. Government funding for the Worker Retention Payment expires on 30 November 2026, with no clarity provided in the budget on whether that will be extended. This could leave a cost gap for providers to manage.
Our advocacy focus going forward
The Budget opens several areas where we will engage constructively with government and industry on behalf of our portfolio and the sectors we invest in.
•Super performance test design. Engaging with the public consultation to support a test that enables industry-fund allocation to productive social infrastructure.
•Aged Care Accommodation Pricing Review. Engaging on the final settings for the Accommodation Supplement uplift and capital subsidies currently held in Contingency Reserve.
•NDIS reform implementation. Supporting smooth transition for participants and providers ahead of the January 2028 eligibility changes, and engagement on Foundational Supports and Thriving Kids design.
•Affordable housing co-investment frameworks. Building on the build-to-rent and government housing program carve-outs to support institutional capital flows into social infrastructure.
For Purpose Aged Care Australia (FPACA) has acquired a new 89-bed residential aged care home in Wallan, Victoria. The home, which is newly built and currently unoccupied, will open to residents in early September 2026.
Wallan sits within one of Victoria’s fastest-growing regions. The acquisition brings 89 high-quality residential aged care places into service in the corridor and will create local aged care jobs through FPACA’s recruitment in the months ahead. It will be the first residential aged care home located in the town of Wallan.
FPACA will use the four months between exchange and opening to complete commissioning, recruit and induct staff, establish clinical governance, and engage with the local community so that the home is ready to deliver care from day one.
“This is a high-quality home in a growing community, and our focus now is on getting it ready to deliver the standard of care that residents and families deserve,” said Matthew Filocamo, Group CEO of For Purpose Aged Care Australia. “Aged care is at its best when it keeps people connected to their families and their community. Over the next four months we will be recruiting locally, engaging with the Wallan community, and making sure that on opening day this home reflects FPACA’s values and model of care.”
Demand for residential aged care in Australia continues to rise as the population ages. KPMG’s 2025 Aged Care Market Analysis reports that the number of people in residential aged care grew to 196,848 at 30 June 2024, with occupancy lifting to 88% as supply tightens.
The Wallan acquisition is the latest step in FPACA’s growth strategy, established by For Purpose Investment Partners (FPIP), the social impact investment manager behind FPACA. New bed development across the sector has slowed in recent years, and acquisitions of this kind play an important role in expanding quality capacity for older Australians.
“This is exactly the outcome the sector needs more of: a high-quality, purpose-built home coming into service for older Australians who need it, backed by an operator with the capability to run it well for the long term,” said Victoria Adams, Managing Director of For Purpose Investment Partners. “New beds are hard to bring into the Australian aged care system, and we are proud to be playing our part. Wallan is a clear example of what happens when patient capital and a strong operator come together with a shared social mission. 89 older Australians and their families will benefit, and the community gains a permanent piece of care infrastructure.”
About For Purpose Aged Care Australia
For Purpose Aged Care Australia is a national aged care provider with a clear social mission: to deliver high-quality care while creating meaningful social impact. Backed by ethical investors, FPACA reinvests in its people, places, and programs to ensure older Australians receive the respect and support they deserve. The organisation operates more than 2,150 residential aged care beds across Victoria, New South Wales, Queensland, and Western Australia, with a further 600 currently in development.
For Purpose Investment Partners acknowledges and pays respect to the past and present Traditional Custodians and Elders of this nation and the continuation of cultural, spiritual and educational practices of Aboriginal and Torres Strait Islander people.
We believe that diversity, equity and inclusion at For Purpose Investment Partners are critical in our efforts to create significant social impact. Diversity in the team allows us to better represent the diversity of thought and experiences of the communities that we are aiming to serve, promotes a healthy and thriving working environment, and delivers innovative and sustainable outcomes for our communities, our people, our investors and our partners.
