Aware Super lifts Keyton stake to 75% in retirement village bet
What's the deal? Australian superannuation fund Aware SuperDealroom has a profile for this one. Try Dealroom → has acquired a further 25.1% interest in retirement village operator KeytonDealroom has a profile for this one. Try Dealroom → from LendleaseDealroom has a profile for this one. Try Dealroom →, lifting its ownership from 49.9% to 75%. Law firm Herbert Smith Freehills KramerDealroom has a profile for this one. Try Dealroom → (HSF Kramer) advised Aware Super on the tax aspects of the transaction.
Who's involved? Keyton is Australia's largest owner and operator of retirement villages, with 66 villages and more than 15,000 residents across the country. Dutch pension fund APGDealroom has a profile for this one. Try Dealroom → retains its existing 25% stake in the business.
Why now? Aware Super first bought into Keyton in 2021 and 2022, and is now deepening its bet on Australia's retirement living sector.
What's the endgame? Alek Misev, Aware Super's head of property, said the fund will "continue to progress key strategic initiatives that support Keyton's long-term strategy, operational performance and the ongoing delivery of high-quality retirement living."
The signal: The move reflects institutional investors chasing long-term returns tied to Australia's ageing population. As HSF Kramer tax partner Ryan Leslie put it, "it's increasingly important to invest in the growth of high-quality senior living facilities."
Read more: AIRR News
