NZ’s Infratil one-up’s Macquarie Bank as Australians invest in NZ villages and care

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The Fin Review is reporting NZ’s Infratil has grabbed the opportunity to sell its $250 million stake in NZ’s second largest village operator Metlifecare while Macquarie was promoting its IPO sale of NZ’s village and care operator Oceania Healthcare (which we covered in the story here).

Australia’s wholesale investors liked the Macquarie story and were open to Infratil slipping in and saying they had their 20% stake in Metlifecare available as well.

Infratil also owns 50% of RetireAustralia; the other 50% is owned by NZ Super.

At the same time Australian private equity firm Adamantem Capital has made its first NZ village and care investment, nabbing a controlling stake in NZ’s Heritage Lifecare which is valued at $115M.

It has 19 facilities, with 977 beds and 331 ILU’s under management.

The deal marks the first for Adamantem, a Sydney-based private equity firm that was set up in June last year by managing directors Anthony Kerwick and Rob Koczkar, both formerly of Pacific Equity Partners.

At Pacific Equity, they worked on deals including Spotless, Griffin’s Foods, Energy Developments and Tegel Foods.

Pictured: Adamantem Capital founders Anthony Kerwick (left) and Rob Koczkar (right) in December last year. Credit: Australian Financial Review: Anthony Johnson


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