Real assets fund manager Stonepeak has partnered with Australian retirement property owner Aura Holdings to provide up to A$1bn (€604m) in total capital, backed by a development facility backed by lenders.
Stonepeak said its investment, together with the committed development facility with senior domestic lenders, will support Aura’s “development pipeline and propel its next phase of growth”.
Aura, founded in 2016, specialises in developing retirement apartments and community facilities in infill locations. To date, Aura has completed six retirement villages with nearly 800 units across southeast Queensland, with six in the near-term pipeline and more than 10 in early development.
The investment in Aura represents the second platform commitment by Stonepeak in the Australasian retirement sector. It follows the firm’s November 2024 acquisition of Arvida Group, a provider of retirement and aged care services in New Zealand.
Darren Keogh, senior managing director at Stonepeak, said: “We are pleased to partner with the Aura team and utilise our flexible, long-term capital to expand Aura’s development platform by executing on their significant pipeline of new retirement village projects.
“Aura is well positioned to serve Australia’s retirees given its premium portfolio spanning desirable retirement destinations, proven development track record and experienced leadership team, who bring a deep understanding of what matters most to seniors.”
Tim Russell, Aura co-founder, said: “We are delighted to welcome Stonepeak as our capital partner in this exciting new chapter for Aura. Stonepeak see the value in a first-class and growing operating platform.
“Stonepeak’s investment gives Aura the runway to accelerate its strategy of adding much-needed, age-appropriate housing in areas grossly lacking suitable downsizing options for locals.”
Sean Graham, CEO of Aura, said: “Stonepeak’s long-term approach to partnering and working with its portfolio companies, deep experience and relationships in the retirement sector, and clear plan for value creation give us tremendous confidence in Aura’s future. Together, we are poised to continue setting the standard in retirement living in Australia,”
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