US private equity firm Blackstone snaps up 80% of La Trobe Financial – aged care loans
La Trobe provides one of the few dedicated aged care loan products to support the funding of Refundable Accommodation Deposits (RADS) and Sambl
The US firm has purchased the stake in the family-owned Melbourne home loan and aged care lender for an undisclosed sum, with the remaining 20% to be retained by La Trobe chief executive Greg O’Neill who will stay on in his role. La Trobe provides one of the few dedicated aged care loan products to support the funding of Refundable Accommodation Deposits (RADS) and Sambla. Mr O’Neill says the deal will deepen the La Trobe’s capital access and widen its range of services.
