AMP Capital has entered the UK specialist care market with the acquisition of The Regard Group.
The Australian fund manager is buying Regard, on behalf of investors in its global infrastructure equity strategy, from Montreux Healthcare Fund and Macquarie Principal Finance.
No financial details were disclosed.
Founded in 1994, Regard is the fourth-largest specialist care provider in the UK.
Regard currently has 161 services and 1,186 beds across the UK, with a focus on England and Wales.
Julie-Anne Mizzi, the global head of infrastructure health at AMP Capital, said: “Regard is an excellent investment for AMP Capital’s global infrastructure strategy.
Earlier this year, AMP Capital raised US$2.4bn (€2.03bn) for its global infrastructure platform at final close.
“It has a strong existing management team, offers stable cashflows, and has industry-leading occupancy levels,” Mizzi said.
Mizzi added that the freehold ownership of its properties mean they can be tailored to meet local needs, which can support the UK Government’s objective of providing quality care closer to home.