Michelle Moore

For Purpose Aged Care platform backed by banks to deliver social impact

NAB, CBA and Bank Australia provide $260m joint debt facility

Deal highlights 

·      $260m facility will support the acquisition of Signature Care 

·      Signature Care has eight operational residential aged care facilities, and a growth pipeline of six development sites 

·      The transaction includes $35m of social loan notes provided by Qantas Super and Australian Ethical Investment. 


7 August 2024 - NAB, CBA and Bank Australia are backing For Purpose Investment Partners (For Purpose), Australia’s pioneering impact investment manager, with over $260m of debt facilities. The facility will support the For Purpose Aged Care Australia (FPACA) platform for the acquisition of Signature Care. 

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 platform brings together Luson Aged Care and Signature Care and will have over 2500 beds creating a top 15 Australian aged care provider. The support of NAB, CBA and Bank Australia follows the landmark commitment of institutional investors Qantas Super and Australian Ethical Investment, announced in April 2024.  

Announcing the commitment Michael Traill, Executive Director of For Purpose said “We are delighted to partner with NAB, CBA and Bank Australia to support the expansion of our aged care platform. This further expands our existing relationships with NAB and CBA and we are excited about our first partnership with Bank Australia. With this debt facility the banks are demonstrating their leadership in financing social impact in Australia while supporting better outcomes for thousands of Australians in aged care.   
“The inclusion of $35m in social loan notes is a further endorsement of the strength of the FPACA platform to deliver institutional grade long term financial returns and social impact.” 

Toby Hall, Chair of FPACA said “We have an ambition of transforming the aged care sector to have a broader social impact that starts with person-centred care and a valued workforce. The support of the banks, preceded by that of institutional investment, demonstrates the value of aged care and the role it plays for Australians and their families.” 

John McCarthy, Head of Corporate Health, NAB said “NAB is delighted to be partnering with FPACA as they continue to support the aged care sector and bring critical social infrastructure to regional locations. As a banker to the seniors living sector for over 10 years, I know how important the investment in quality aged care is to communities. I’m proud that the NAB Corporate Health team has played a role in enabling such an investment and look forward to seeing it come to life.” 

General Manager, Major Client Group CBA Craig McQuillen said “We are proud to support For Purpose in their ambition to transform the aged care sector and create positive social impact. The deal features a unique social loan note structure which aligns investors to long-term returns and is the largest transaction of this nature in our Business Bank to date.”

Bank Australia Head of Impact Lending Tim Von Ess said ‘‘Through Bank Australia’s impact lending we aim to meet our customers’ expectations that their money is used to generate positive social and environmental impact. We’re pleased to be involved in FPACA’s acquisition of Signature Care and helping to increase in the supply of high-quality aged care accommodation and care for older Australians.’’  

The commitment supports the previously announced strategic acquisition of Signature Care by FPACA. With eight operating aged care facilities, the potential growth pipeline includes six development sites across Australia with a focus on regional centres.  

 

ENDS

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Long-term financing supporting independence

For Purpose Investment Partners is providing ~$7m financing, delivering peace of mind for eight NDIS participants and their families on Sydney's northern beaches

19 August 2025 - For Purpose Investment Partners (FPIP) has provided ~$7m in long-term mezzanine debt financing to support eight NDIS participants in their 'forever homes' at the Beacon Hill Disability Housing project on Sydney's northern beaches.

The financing follows the successful repayment of the project's $4 million construction debt and ensures the continued provision of safe, secure and purpose-built accommodation for residents with high support needs. The pilot project, established in partnership with the Sustainable Development Group (SDG) and Sydney Anglican Property, was completed in late 2024. Together, we transformed underutilised church-owned land into vital social housing infrastructure by providing Specialist Disability Accommodation (SDA).

"This long-term financing provides stability and certainty for the eight residents who call this place home," said Tim Shaw, Executive Director of FPIP. "Our partnership with Sydney Anglican Property shows how shared values and patient capital can create meaningful social impact. We're establishing a financial foundation that enables these residents to flourish in their community with the comprehensive support they deserve."

The Beacon Hill project exemplifies how purpose-driven investment can address critical housing shortages while supporting vulnerable Australians. The development provides high-quality, accessible homes designed for people with disability support needs.

"The Anglican Church is committed to using our land assets to serve the community and support those most in need," said Ross Jones, CEO of Sydney Anglican Property. "This partnership with FPIP has transformed unused church land into a lasting social asset that provides secure, dignified housing for the tenants. The successful refinancing ensures these residents have the certainty of a permanent home, while their families have peace of mind knowing their loved ones are well-supported.”

Evolve Housing manages the SDA property, while Fighting Chance provides Supported Independent Living (SIL) services. Together, they deliver comprehensive support that enables tenants to live independently in their community.

The project builds on FPIP's impact investment approach to drive sustainable financial returns alongside measurable social outcomes. We continue to work with mission-aligned partners to expand access to quality housing across Australia, including SDA and Social and Affordable Housing.

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Submission to the Economic Reform Roundtable

Australia's $4.2 trillion opportunity for economic reform

Australia's superannuation system, projected to reach $9 trillion by 2040, represents an unprecedented opportunity to mobilise patient capital for social infrastructure that delivers both institutional grade returns and essential community services. The Economic Reform Roundtable presents a defining moment to unlock this pool of capital through proven investment models that align financial performance with measurable social outcomes. At For Purpose Investment Partners (FPIP), founded by Michael Traill AM, we have demonstrated that ethical, long-term investment in aged care, disability services, and education is delivering both financial and social value without compromise.

The Economic Reform Roundtable represents Australia's moment to lead. By aligning our world-leading superannuation system with proven impact investment models, we can demonstrate that superior financial returns and transformative social outcomes are not competing objectives - they are the twin engines of sustainable economic growth.

Read our full submission to the Economic Reform Roundtable, which includes our five recommendations to reform the economy through social impact investment.

Recommendations

  1. Implement the social impact wholesaler Establish the Commonwealth-backed wholesaler recommended by the SocialImpact Task Force to bridge the gap between institutional capital and social enterprises.
  2. Create an early-stage foundation to provide capacity building, mentorship and support for social enterprises to help them access capital, as recommended by the Social Impact Task Force. This foundation would address the critical gap in supporting nascent social enterprises before they reach investment readiness, encouraging innovation and growth.
  3. Modernise superannuation regulations Update interpretation of the 'sole purpose' test to explicitly recognise the indirect benefits of social infrastructure investments; Reform Your Future Your Super benchmarks that currently penalise long-term social infrastructure allocations; Create dedicated asset class recognition for social impact private credit.
  4. Streamline Tax and Regulatory Alignment Coordinate federal and state mechanisms to provide rapid access to tax exemptions (payroll, GST, FBT) for verified social impact structures, removing bureaucratic barriers to mission-aligned investment.
  5. Partner on Sustainable Service Pricing Work with mission-aligned providers to develop pricing models that balance operational efficiency with quality outcomes, particularly for services supporting vulnerable Australians.

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Board Chair Don Luke to retire

For Purpose Investment Partners founding Chair Don Luke has confirmed his planned retirement from the board will take effect at the end of June 2025. As the founding Chair, Don has been instrumental in shaping the direction, growth and guiding values of For Purpose.

Executive Director Michael Traill AM said "Don has brought passion, a practical and insightful depth of experience in all the things that matter to us at For Purpose and a deep belief in our mission and cause.  His generosity of spirit and engagement has been fundamental from the outset.  We would quite simply not be in the position of having a broad-based portfolio of investments in the sectors we wanted to make a difference in, with the potential to take the next leap of funding and growth to the institutional market, without his presence and guidance.

"Don’s unique background and perspective in having been a founding CEO at Sun Super through to his role of Chair at Australian Retirement Trust, and an impactful 5-year stint as CEO of Anglicare Queensland, speak to the heart of who he is; his thoughtful and measured approach has been significant to how we think about the world. I am deeply grateful for the experience and insight Don’s leadership has provided for myself and our team, and for the high standards he set in how we thoughtfully approach discussions and decisions."

Chair Don Luke said “It has been an enormous privilege to be the founding Chair of For Purpose and be part of establishing an organisation that is truly unique in its mission to combine the best of business and for-purpose thinking to create positive impact in social sectors. It has been an honour and a professional pleasure to work with the board and the management team.”

Don will continue to be involved in providing feedback and advisory support to For Purpose, a measure of his ongoing dedication to our mission of creating both financial value and social impact without compromise. Michael Traill will be stepping in as Executive Chair.

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Acknowledgement of Country

For Purpose Investment Partners acknowledges and pays respect to the past, present and future Traditional Custodians and Elders of this nation and the continuation of cultural, spiritual and educational practices of Aboriginal and Torres Strait Islander people.

Diversity, Equity & Inclusion statement

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.