We welcome Treasurer Jim Chalmers' plans to attract banks and superannuation funds to set up a social impact investing fund to tackle entrenched disadvantage in the May federal budget.
Establishing this "wholesaler" was a key recommendation of the government's Social Impact Investing Taskforce, led by our Executive Director, Michael Traill.
Read the full AFR article here.
The FP Ability board is pleased to announce that Spencer Ratliff has been appointed as CEO of Tender Loving Cuisine (TLC), while maintaining his current role as CEO of Able Foods. This strategic decision underscores our commitment to strengthening both businesses while preserving their unique identities in the meal delivery sector.
"Having witnessed Spencer's exceptional leadership at Able Foods, we are confident that his appointment will drive innovation and growth across both brands," said Paul Robertson, Chair of FP Ability. "His track record of building client-focused businesses and navigating change makes him ideally suited for this expanded role."
Spencer Ratliff shared his vision for the future, "Both organisations share a unified mission: to deliver exceptional services and outcomes for their clients, driven by their expertise and deep specialisation in the market.
"I’m thrilled to lead TLC into its next chapter of growth, building on its 30-year legacy of outstanding service in the disability and aged care sectors. My priority is to collaborate closely with the team to explore opportunities that harness the strengths of both businesses while preserving their distinct brand identities."
Spencer added, "This common foundation will enable growth that is firmly focused on our clients.”
Spencer will be working with the board, stakeholders and suppliers to identify opportunities for mutual growth and learning between both organisations.
Paul concluded, "This appointment represents a significant step forward in our growth strategy. We're confident that under Spencer's purpose-driven leadership, both TLC and Able Foods will continue to excel in delivering exceptional meals and customer service to our valued clients."
Keypoints
- Both TLC and Able Foods will maintain their distinct brands and current operations
- A comprehensive strategic plan will be developed through collaboration with staff, senior management, customers, board members, and suppliers
- Knowledge and expertise will be shared across both businesses to enhance operations and service delivery.
ENDS
About FP Ability
An investment platform by For Purpose Investment Partners, FP Ability is committed to removing obstacles for people who require support, with a focus on people living with disabilities, their families, and older Australians. Nutrition is vital to people’s good health and wellbeing, and for customers of Able Foods and Tender Loving Cuisine (TLC), their services support choice and independence. Our aim is to improve the quality of services, for the elderly and Australians living with a disability, and address food insecurity in these sectors.
Able Foods
Able Foods mission is to enable healthier, happier and more independent lives for each and every ability. Its dedicated team understands what it means to create meals that cater for each client’s unique needs. Through years of experience, they assist clients to best manage both the NDIS and Aged Care (HCP) processes.
Tender Loving Cuisine
TLC offers customers high quality frozen ready-to-eat meals that are home delivered. With a focus on supporting older people maintain independence at home and supporting health outcomes, many clients access government funded support.
29 October 2024 - For Purpose Investment Partners (FPIP) has released its Impact Report 2024. A leading social impact investment fund manager, FPIP voluntarily reports information about its approach to impact measurement and the performance of portfolio companies and projects. With a commitment to deliver financial value and social impact without compromise, FPIP are pursuing a broader ambition to establish social impact investments as a viable asset class for large-scale transactions across the Australian market.
Michael Traill, Executive Director said “Publishing transparent and accountable information in our Impact Report 2024 is a demonstration of our thought leadership in impact investing. We believe transparent reporting is a factor in building the understanding and assurance amongst investors to unlock significant amounts of capital that can transform the social sector.”
Mr Traill, who chaired the Federal Government’s Social Impact Investing TaskForce, further explains, “Ultimately, we need to get to scale to tackle the sector-wide transformation that is needed in areas including aged care, disability, education and housing. Institutional investors need to know that impact fund managers are transparent, accountable and creating value. Proofpoints like our annual Impact Report, are part of the assurance that investors require.”
Additionally, FPIP were one of the first Australian signatories to the Operating Principles for Impact Management (OPIM) and were independently assessed by BlueMark against these principles.
Ben Smith, Head of Impact Investing at the Paul Ramsay Foundation says "As early backers of FPIP, we are pleased to see the organisation's progress and second impact report publication. FPIP's inclusion of third-party assurance creates the comfort that impact investors seek. We know from global practice that transparency and impact integrity are key ingredients to establish confidence and progress markets."
Mr Traill continues “Our values and commitment to transparency led us to seek external verification that provides investors with confidence that we have been benchmarked and tested to a global standard.”
“We are focused on continuous improvement and this was evidenced by a lift in ratings across three of the eight principles this year. As a team we will continue to work in close partnership with our investees to increase our collective impact. We are demonstrating Australian impact to a global standard.”
The Impact Report 2024 is available here.
ENDS
Michael Traill, Executive Director and co-founder of For Purpose Investment Partners is interviewed on the latest With Purpose podcast by David Knowles. The episode overview is 'Michael Traill AM made his name at Macquarie Bank as a successful private equity investor, before jumping ship to foster social entrepreneurship in Australia as founder of Social Ventures Australia. This journey led him to the field of impact investing, a field in which he is now acknowledged as a pioneering leader and elder statesman. Today, Michael is Executive Director of For Purpose Investment Partners and Chair of the Paul Ramsay Foundation. In this episode, Michael reflects on what he has learnt during his career, and shares unique insights in relation to investing, leading, governing and tackling a wide variety of social issues.’
For Purpose Investment Partners acknowledges and pays respect to the past, present and future 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 that diversity, equity and inclusion at For Purpose Investment Partners are critical in our efforts to create significant social impact. Diversity in the team allows us to better represent the diversity of thought and experiences of the communities that we are aiming to serve, promotes a healthy and thriving working environment, and delivers innovative and sustainable outcomes for our communities, our people, our investors and our partners.
