Moelis setting its sights on home care provider KinCare?: The Australian

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The paper is reporting that the listed funds manager and investment firm is eyeing off the provider after initially being hired as an adviser to find an investor for the family-run operator.

The move would fit with recent moves by Moelis into the sector. In September, the company paid $45.4M for a 70% majority in aged care provider Infinite Care and established the Moelis Australia Healthcare REIT, offering third-party investors the opportunity to co-invest.

The following month, Moelis also increased its shareholding in Japara from 6.1% to 9.96% – a cost of around $53M.

The Australian speculates that Moelis may now target other private operators such as Regis and Estia as it looks to private aged care providers that own their own real estate.

It’s already happening elsewhere. In October, private equity firm Quadrant bought a stake in NSW Central Coast home care provider Sue Mann.

So will this prove the case? Watch this space.


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