Global investment firm EQT, which last month paid $987 million for Stockland’s Retirement Living Business, has appointed a new Head of Infrastructure for Australia.
Patrick Rodden, Director at The Carlyle Group, another global investment firm, replaces Ken Wong, who is moving to head the wider Asia Pacific, Nine Media reported.
He will manage EQT’s 10-person infrastructure investment unit in Sydney. The team has been an active player in local M&A, acquiring cancer care business Icon Group, New Zealand retirement village owner Metlifecare and Stockland’s retirement living portfolio in the past two years.
EQT Infrastructure Director Sam Franklin told SATURDAY’s Mergers and Acquisitions issue that the company intended to take Stockton’s Retirement Living Business to a new level with a commitment to provide access to home care and residential care. He also said the business saw further opportunities in aged care and retirement living in Australia.
