Insights > Deals
Stonepeak and Axight complete Estia Health acquisition
30 October 2026 | Portfolio acquisition | Australia | TBC | Operational
The buyers have completed the previously announced takeover of one of Australia's largest residential aged‑care operators.
Key details
Asset type | Operational |
Location | Australia |
Capacity | Undisclosed |
Buyer 1 | Stonepeak |
Buyer 2 | Axight Capital |
Seller | Bain Capital |
Value | Undisclosed |
Estia operates 97 homes across South Australia, Victoria, New South Wales and Queensland. Axight is a minority co‑investor alongside Stonepeak.
Strategic context
Estia is the second investment for Volarae Living, Stonepeak's social‑infrastructure platform in Australia and New Zealand, following its February 2026 investment in Aura Holdings. The acquisition expands the platform's presence beyond retirement living into residential aged care. Its long‑term performance will depend on care delivery, workforce management and ongoing reinvestment across the operating estate.
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