The administrators of the $740 million failed Gold Coast funds management group LM have discovered related party loans of approximately $300 million, with $17 million being lent directly to CEO Peter Drake. LM holds several retirement villages as assets following investments it made pre-GFC in the sector. It also has lent funds to existing village operators which may now come under pressure.
Breaking news: For Purpose Investment Partners’ aged care platform buys Graeme Croft’s Signature Care
For Purpose Aged Care Australia (FPACA), the aged care provider established by social impact investment vehicle For Purpose Investment Partners (FPIP), is moving forward on its vision of reaching 5,000 beds, acquiring 14 aged care homes – eight on...