For Purpose Aged Care Australia (FPACA) has acquired a new 89-bed residential aged care home in Wallan, Victoria. The home, which is newly built and currently unoccupied, will open to residents in early September 2026.
Wallan sits within one of Victoria’s fastest-growing regions. The acquisition brings 89 high-quality residential aged care places into service in the corridor and will create local aged care jobs through FPACA’s recruitment in the months ahead. It will be the first residential aged care home located in the town of Wallan.
FPACA will use the four months between exchange and opening to complete commissioning, recruit and induct staff, establish clinical governance, and engage with the local community so that the home is ready to deliver care from day one.
“This is a high-quality home in a growing community, and our focus now is on getting it ready to deliver the standard of care that residents and families deserve,” said Matthew Filocamo, Group CEO of For Purpose Aged Care Australia. “Aged care is at its best when it keeps people connected to their families and their community. Over the next four months we will be recruiting locally, engaging with the Wallan community, and making sure that on opening day this home reflects FPACA’s values and model of care.”
Demand for residential aged care in Australia continues to rise as the population ages. KPMG’s 2025 Aged Care Market Analysis reports that the number of people in residential aged care grew to 196,848 at 30 June 2024, with occupancy lifting to 88% as supply tightens.
The Wallan acquisition is the latest step in FPACA’s growth strategy, established by For Purpose Investment Partners (FPIP), the social impact investment manager behind FPACA. New bed development across the sector has slowed in recent years, and acquisitions of this kind play an important role in expanding quality capacity for older Australians.
“This is exactly the outcome the sector needs more of: a high-quality, purpose-built home coming into service for older Australians who need it, backed by an operator with the capability to run it well for the long term,” said Victoria Adams, Managing Director of For Purpose Investment Partners. “New beds are hard to bring into the Australian aged care system, and we are proud to be playing our part. Wallan is a clear example of what happens when patient capital and a strong operator come together with a shared social mission. 89 older Australians and their families will benefit, and the community gains a permanent piece of care infrastructure.”
About For Purpose Aged Care Australia
For Purpose Aged Care Australia is a national aged care provider with a clear social mission: to deliver high-quality care while creating meaningful social impact. Backed by ethical investors, FPACA reinvests in its people, places, and programs to ensure older Australians receive the respect and support they deserve. The organisation operates more than 2,150 residential aged care beds across Victoria, New South Wales, Queensland, and Western Australia, with a further 600 currently in development.
15 September 2026 - Australia cannot fix its early learning and housing shortfalls without stable policy and sophisticated models that draw private capital into social infrastructure, two of the country's leading advocates told an audience of investors and sector leaders in Sydney last week.
The Parenthood Chief Executive Officer Georgie Dent and Anglicare Sydney Group Executive, Housing and Chief Advocacy Officer Rob Stokes joined For Purpose Investment Partners (FPIP) Founder and Executive Chair Michael Traill for the panel discussion Purpose at Scale: Why social infrastructure investment is critical to our country's future. The event at Yirranma Place, Darlinghurst, on Thursday 10 September marked the launch of FPIP's Impact Report 2026.
Ms Dent said the way Australia funds and delivers early education and care has driven the problems families face today.
"Most families in Australia confront at least one of three barriers. Is there a place available where they live? Is there a place they trust is reliably high quality? Is it affordable? In the best case scenario at the moment, families get one of those," Ms Dent said.
She told the audience that more than 70% of long day care is now delivered by large for-profit providers, that around one in four Australians live in a childcare desert, and that the latest Australian Early Development Census shows almost half of children arrive at school developmentally vulnerable.
"If the early education and care isn't high quality, it's actually terrible for children. Without fundamental reform and a commitment to change how we fund and deliver early education and care, these problems will continue.
"We have to have sophisticated policy options that actually leverage some of the capital that we have in this country with some of the objectives that we have for the country," Ms Dent said.
Mr Stokes, a former New South Wales Minister for Planning, Education and Housing, said governments spend around 1% of their budgets on housing, against 16% to 28% on health and education.
"When you look at Maslow's hierarchy, shelter is right at the bottom. If you provide housing, that saves government money on health and on education," Mr Stokes said.
"Government cannot do it alone. But equally, we can't have policy instability. Once you learn how to do something, just keep doing it and provide that certainty. We take Medicare for granted now. We need a similar approach for housing."
Mr Traill said the discussion reflected FPIP's experience as investors in aged care, skills education, disability services and specialist disability accommodation, where policy and funding settings shape what capital can achieve.
"Our belief is simple. Long-dated investors who hold these assets over the long term, and who aim to make a difference to quality of life, can make a real difference and drive risk-weighted, institutional-grade returns," Mr Traill said.
"Government funding incentives need to be tied far more explicitly to quality outcomes. Where the pricing signals are sensible, as they are in specialist disability accommodation, mainstream capital follows. That precedent is how we get to scale in the sectors Australia needs most."
FPIP's Impact Report 2026, Meaningful Momentum, is the organisations fourth annual report. It shows more than 10,650 Australians received care, housing, meals or training in the past year from a business FPIP owns or invests in. The not-for-profit fund manager holds $200 million in committed capital across four platforms and is now assessing opportunities in early childhood education and care, and social and affordable housing. FPIP uses the evidence from its portfolio to advocate for change across the social services system.
The report is available at https://www.fpinvest.com.au/impact
The For Purpose Investment Partners skills education platform, Catalyst Education, has begun trading as For Purpose Education. The transition began on 1 July 2026 and brings the business into closer alignment with the wider For Purpose group.
A name that reflects the mission
FPIP invested in Catalyst Education in 2021 to build a not-for-profit skills education platform and strengthen the pipeline of skilled carers, educators, and support professionals that Australia needs. The new name states that purpose plainly. It also connects the business more visibly to the other organisations we back across aged care, disability support, and community services.
The rebrand changes the name and the look of the business. Its strategy, leadership, and commitment to quality training remain exactly as they were.
The same trusted training organisations
For Purpose Education operates three Registered Training Organisations (RTOs): Selmar Institute of Education, Practical Outcomes, and ARC Training. Together they deliver accessible, industry-relevant training across early childhood education and care, aged care, disability support, health and community services, and business.
In the 2025 financial year (FY25), the business supported 4,100 learners across four states and territories. Of these, 56% were based in regional and remote locations, and 85% of completed learners improved their employment position, compared with an industry average of 65%.
Why this matters
Australia faces a critical shortfall of care workers. Training providers that keep pace with the needs of employers, learners, and communities are central to closing that gap. For Purpose Education has a clear role to play, and we are confident the business is well positioned to grow its contribution.
No change for learners and partners
Nothing changes for enrolled learners, employers, or industry partners. Trainers, support arrangements, partnerships, and funding arrangements all continue as they are.
What comes next
The For Purpose Education website is now live at fpeducation.com.au.
We congratulate the For Purpose Education team on this milestone and look forward to the next chapter.
23 June 2026 - FP Ability is pleased to announce the appointment of Mark Powell as Chief Executive Officer of specialised meal delivery businesses Able Foods and Tender Loving Cuisine (TLC). Mark will commence in the role on 3 August 2026.
Mark brings more than 20 years of senior executive experience in the fast moving consumer goods (FMCG) sector. His expertise spans sales, marketing, procurement, and supply chain. He joins FP Ability from NAFDA, where he served as General Manager Australia and New Zealand. In that role he drove growth, integrated new markets, and managed operations for the member-owned cooperative.
Throughout his career, Mark has scaled businesses, led high-performing teams, and built enduring customer relationships. His focus on consultative planning and his commitment to business development position him well to lead FP Ability through its next phase of growth.
'Mark's experience scaling businesses in the FMCG sector, combined with his alignment to our mission, makes him the right leader for FP Ability at this stage of its growth,' said Rob Blackwell, Executive Chair of FP Ability. 'Able Foods and TLC provide safe, nutritious meals to older Australians and National Disability Insurance Scheme (NDIS) participants every day. Mark understands both the commercial discipline and the social purpose that sit at the heart of these businesses. We look forward to working with him as we continue to grow their impact across the aged care and disability sectors.'
'I am delighted to join FP Ability and to lead two businesses that make a real difference to people's lives every day,' said Mark. 'Able Foods and TLC have strong foundations and committed teams. I look forward to working with them to innovate, broaden what we offer, and reach more of the clients who rely on us.'
For Purpose Investment Partners acknowledges and pays respect to the past and present Traditional Custodians and Elders of this nation and the continuation of cultural, spiritual and educational practices of Aboriginal and Torres Strait Islander people.
We believe diversity, equity and inclusion are critical to creating social impact at For Purpose Investment Partners. A diverse team better reflects the range of experiences and perspectives in the communities we serve. It also creates a healthy, thriving workplace and delivers innovative, sustainable outcomes for our communities, our people, our investors and our partners.
