STONEPEAK takes majority stake in ESTIA HEALTH

Global private investing firm Bain Capital has entered into a definitive agreement to divest Australian residential aged care provider Estia Health to a consortium led by alternative investment firm Stonepeak. The transaction is structured as a majority stake acquisition, with alternative sponsor Axight Capital Limited (Axight) joining the consortium as a minority equity partner. For Stonepeak, the buyout marks the second strategic deployment executed through Volarae Living, its dedicated Australia and New Zealand social infrastructure platform, following its initial investment in Aura Holdings in February 2026. The corporate carve-out is scheduled to close in late 2026, subject to customary regulatory clearances. For the Stonepeak-led consortium, the acquisition secures operational control over the second largest residential aged care operator in Australia, which manages an infrastructure of over 90 homes caring for approximately 9,250 residents across New South Wales, Queensland, South Australia, and Victoria, backed by a workforce of over 14,000 employees.

It is worth noting that the fund Bain Capital took control of Estia Health through an LBO in 2023.