AMP has acquired 100 per cent of CMG on behalf of investors in its Global Infrastructure Equity strategy.
AMP’s acquisition of CMG is its second in UK specialist care, following its purchase of The Regard Group (Regard) in January.
CMG provides residential and living services for adults with learning difficulties and mental health conditions, with 189 services across England and Wales.
“Our investment in CMG is consistent with our strategy of investing in essential services and complementary with our prior investment in Regard, particularly the emphasis on high-quality care provision and a culture of supporting service users,” Ruben Bhagobati, partner at AMP Capital said.
“We will continue to target opportunities for growth, including the development of new services where they are needed by individuals and communities, and offering staff an increased range of career development pathways.”
Mr Bhagobhati added that there continues to be significant demand for investment in UK health and social care, saying AMP’s approach to infrastructure, responsible investment and commitment to ESG underpins its focus on the sector.
“I am delighted that AMP Capital have acquired Care Management Group. They share our deep commitment to service users and the value in developing and investing in our staff,” Dr Chai Patel, CBE, FRCP, chairman of CMG’s former owners Court Cavendish said.
“I am immensely proud of the turnaround of CMG: in large measure it is a credit to the leadership and all the valued colleagues in the organisation. I wish you all well on your new journey ahead.”
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
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