The appointment of Ms Evans reflects her extensive international executive and non-executive director experience, spanning more than 30 years across investment and wealth management, as well as healthcare operations.

Ms Evans’ non-executive director experience covers private, social enterprise and government advisory boards and board committee experience including risk, audit and remuneration. She is currently a Non-Executive Director on the boards of Healius, Rest and Oceania Healthcare; and is an Advisory Group Member of EveryAge Counts and Aged Care Quality and Safety Commission.

Ms Evans’ previous Senior Executive roles include Head of Retirement, AMP; Investment Director, Aged Care AMP Capital; Investment Manager, Aged Care Westpac Institutional Bank; and Asia Pacific Healthcare Director Compass Group plc.

Allianz Retire+ Chairman, David Plumb said: “Sally’s leadership and significant experience working in the retirement, ageing and healthcare sectors serves to greatly enhance the diverse expertise on the Allianz Retire+ Board.”

“Sally possesses a deep understanding of our operating environment, spanning the breadth of challenges that come with retirement. Her strong commercial acumen and proven track record in delivering sustainable financial and social outcomes will be of tremendous benefit to Allianz Retire+, as the business enters its next stage of growth.”

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G. K. Goh acquires a stake in the AMP Capital managed residential aged care provider Domain Principal Group .

AMPCapital today announced Singapore-based G. K. Goh Holdings Limited (GK Goh) will acquire a 47.62 per cent stake in the AMP Capital managed residential aged care provider Domain Principal Group (DPG), for A$136.7 million.

In addition, AMP Life will increase its ownership from 42.5 per cent to 47.62 per cent. This means that GK Goh and AMP Life will both hold equal 47.62 per cent interests in DPG as other clients re-weight their portfolios and exit the investment. The remaining stake in the company is held by DPG management.

AMP Capital will continue to manage the investment on behalf of all shareholders.

As part of the transaction, AMP Life and GK Goh plan to invest an additional A$50 million to finance further investment in Australia’s aged care sector.

AMP Life has invested in the aged care sector in Australia since 1999. GK Goh, through a fund it has a significant stake in, is also a part owner of retirement villages in Western Australia.

AMP Capital Head of Aged Care Sally Evans said: “We’re really pleased that AMP Life and GK Goh will be partners in the continued growth of DPG.

“The transaction gives DPG the opportunity to grow through investment in the existing 55 facilities, as well as building new state-of-the-art homes and potential acquisitions.

“Since AMP Capital acquired its initial aged care investment asset on behalf of clients in 2005, we’ve managed the acquisition of Domain Aged Care and significantly invested in the business, including recruiting a professional and dedicated management team, putting in place new systems, training and stronger governance to ensure that DPG’s residents are receiving quality care.

“The DPG business is performing strongly with increased occupancy and a recent allocation from the Federal Government for another 385 new beds at DPG facilities.

“With the residential aged care sector expected to grow by 40 per cent in the next 10 years, as the population ages, an estimated A$25 billion of capital will be needed to fund new places and rebuild existing homes,” Ms Evans said.

Pat Grier will continue as DPG Chairman and GK Goh will nominate one director for appointment to the DPG Board. Gary Barnier continues in his role as DPG Managing Director.

The transaction is subject to various approvals including GK Goh shareholders and the Foreign Investment Review Board in Australia.

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