Downing successfully exits portfolio of six elderly specialist care homes

20/11/25
5 min
Private Equity
News
Download the report

CCG will continue to operate the homes, which were acquired over a three-year period, and comprise five trading homes delivering high-quality nursing care to adults with complex mental and physical health conditions, including specialist dementia from 392 beds. The portfolio also includes a closed 80 bed care home which is being fully refurbished and will be acquired at turnkey in 2026.

Contents
See full contents

Investment manager Downing has successfully exited a portfolio of six elderly specialist care homes managed by long-term joint-venture partner Care Concern Group (CCG). This follows an initial sale of five trading homes and a forward purchase agreement for the final home to a global real estate investor.

CCG will continue to operate the homes, which were acquired over a three-year period, and comprise five trading homes delivering high-quality nursing care to adults with complex mental and physical health conditions, including specialist dementia from 392 beds. The portfolio also includes a closed 80 bed care home which is being fully refurbished and will be acquired at turnkey in 2026.

We are delighted to announce that Mark Gross, Partner and Head of Development Capital, has been named Equity Investor of the year at the HealthInvestor Power List 2024 Awards.

Following Mark’s achievement last year when he won the “Leading Investor” award at HealthInvestor’s Power50, this year’s win further highlights his continued success and expertise in investing across the healthcare sector. 

The judges praised Mark for finding success both in value and volume this year, delivering good returns and growth. They were impressed by how Mark has continued to strengthen a strong track record with further growth in the team and new funds securing further backing. We extend our thanks to Mark and the Downing Development Capital team for their continued dedication and support in expanding our healthcare investment activities with a focus on quality, performance and reputation. 

Congratulations Mark!

Development Capital  

Downing Development Capital is an award-winning investor focused on investment opportunities into asset-backed operating businesses with downside protection. Typical sectors they invest in include healthcare, specialist education, hospitality, leisure and IT infrastructure.

Learn more about our Development Capital team

‍

Investment manager Downing has successfully exited a portfolio of six elderly specialist care homes managed by long-term joint-venture partner Care Concern Group (CCG). This follows an initial sale of five trading homes and a forward purchase agreement for the final home to a global real estate investor.

CCG will continue to operate the homes, which were acquired over a three-year period, and comprise five trading homes delivering high-quality nursing care to adults with complex mental and physical health conditions, including specialist dementia from 392 beds. The portfolio also includes a closed 80 bed care home which is being fully refurbished and will be acquired at turnkey in 2026.

Downing portfolio company Lighthouse Funerals announces new acquisition and appoints Chair
Learn more
Mark Gross, Partner and Head of Private Equity, Downing, said: “This exit is further evidence of the continuing demand for services supporting higher acuity, needs-based residents and testament to the quality of the complex care services our operators strive to build. This is the culmination of a successful journey with Care Concern, who will continue to provide high quality specialist care for residents in these homes.”
David Martin Smith, Managing Director, Care Concern Group said: “We are grateful for the support and strong working relationship we have formed with Downing over many years, which has culminated in another successful exit.”

‍

Torsten Mack, Investment Director at Downing, said:

"We are proud to support this exceptional management team, whose strong track record positions them well to build a new business in dementia care. This needs-based sector is underpinned by a lack of quality supply and we are investing in Fortava Healthcare to set and deliver high standards, and to help make a difference."

Johann van Zyl, CEO at Fortava, added:

"I’m thrilled to be working with Jamie, as we share the same values. We plan to grow Fortava into a leading provider of dementia care over the next five to seven years. But growth isn’t our primary focus—our goal is to deliver outstanding care and foster a joyful, supportive environment for both residents and staff. We’re delighted to be partnering with Downing who also share our values and we look forward to this journey with them."

Jamie Stuart, CFO at Fortava, commented:

“For me, it's about being more than just another care home provider. While dementia care in the UK is generally of a good standard, we want to set ourselves apart with a fresh approach. That’s why, after over 25 years in banking, I chose to partner with Johann and Downing on this venture.”

‍

The Downing deal team comprised of Edmund Motley and Hannah Kenny, who were supported by Shoosmiths LLP.

Downing’s award-winning Private Equity team partners with exceptional management teams to help realise their growth ambitions and maximise the potential of their business by providing flexible funding solutions, strategic support, and access to its networks.

Typically, Downing looks for initial investments of between £5 million and £50 million and focuses on sectors including healthcare, education, housing, and other specialist sectors.

Downing integrates analysis of sustainability factors into its investment decision-making and supports companies to achieve positive outcomes in corporate governance and societal factors.

Find out more information about the Downing Private Equity team.

CCG will continue to operate the homes, which were acquired over a three-year period, and comprise five trading homes delivering high-quality nursing care to adults with complex mental and physical health conditions, including specialist dementia from 392 beds. The portfolio also includes a closed 80 bed care home which is being fully refurbished and will be acquired at turnkey in 2026.

Please fill out the form to download the full report

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Sign up to stay up to date with the latest insights and investment opportunities
Learn more

Related Insights

View all

Downing portfolio company Lighthouse Funerals announces new acquisition and appoints Chair

22/9/2025
5 min
read
Private Equity
Learn more

Downing portfolio company Lighthouse Funerals announces new acquisition and appoints Chair

22/9/2025
5 min
read
Private Equity
Learn more

Downing expands investment portfolio and presence in the specialist care market with the acquisition of Zero Three Care

18/9/2025
7 min
read
Private Equity
Learn more

Downing expands investment portfolio and presence in the specialist care market with the acquisition of Zero Three Care

18/9/2025
7 min
read
Private Equity
Learn more
Stay up to date with 
our latest insights.
Sign up
Downing
HomeAboutResponsible investingInsightsTeamContact
Our investment areas
Renewable Energy & InfrastructurePrivate EquityPrivate Credit
Legal and support
Privacy and cookie policyTerms and conditionsModern slavery statements

Downing LLP does not provide advice or make personal recommendations and investors are strongly urged to seek independent advice before investing. Investments offered on this website carry a higher risk than many other types of investment and prospective investors should be aware that capital is at risk and the value of their investment may go down as well as up. Any investment should only be made on the basis of the relevant product literature and your attention is drawn to the risk, fees and taxation factors contained therein. Tax treatment depends on individual circumstances of each investor and may be subject to change in the future. Past performance is not a reliable indicator of future performance. Downing LLP is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 545025). Registered in England No. OC341575. Registered Office: Downing, 10 Lower Thames Street, London, EC3R 6AF.

VAT Number: 112 940 149