The transaction represents a second investment for Volarae Living, Stonepeak's social infrastructure platform in Australia and New Zealand, following its February 2026 investment in Aura Holdings.
Headquartered in Sydney, Estia Health is the second largest residential aged care operator in Australia, operating more than 90 homes across New South Wales, Queensland, South Australia and Victoria, and caring for approximately 9,000 residents.
Stonepeak's consortium partner in the transaction is Axight Capital Limited, an Abu Dhabi-based private
equity-focused investment manager. The transaction is expected to close in late 2026, subject to customary regulatory approvals.
The MinterEllison team was led by M&A/Capital Market Partners Daniel Scotti and Nicole Sloggett, with support from Korey Barbousas (Senior Associate), Molly Eason (Lawyer), Kate Nicol (Lawyer), Brandon Dean (Lawyer), Oscar Tuckfield (Lawyer), Mason Bierlein (Lawyer), Hanley Milford (Lawyer) and Shree Jobanputra (Lawyer).
Specialist advice was provided across aged care, real estate, workplace, environment and planning, intellectual property, litigation, construction, insurance, FIRB, risk and regulatory consulting and ACCC.
