Serenitas Continuation Fund

Overview:

Serenitas is a market leader in over-50’s residential land lease communities across Australia. The investment began with the acquisition of National Lifestyle Villages (NLV) where Tasman enhanced operational efficiency and repositioned the business for scale. Building on this platform, the business was expanded nationally through 20 bolt-ons and a blend of strategic acquisitions.

Outcome:

In 2024, Serenitas was sold to Pacific Equity Partners and Mirvac for over $1 billion. Tasman retained a stake in the business through a continuation fund, which was supported by institutional investors, as well as rollover investment from the management team and Tasman. The transaction was awarded the Australian Investment Council Upper Mid-Cap Deal of the Year 2024.

Continuation Fund Unrealised

Strategic Fit:

• Defensive business model

• Significant operational improvement

• Consolidation through roll ups