Investment manager Downing has exited its six-year partnership with Birmingham-based elderly care provider MACC Care.

During its partnership with MACC Care, which operates a network of luxury care homes across the Midlands, Downing provided around £70 million in funding for acquisitions, refurbishment and development across six care homes that collectively provide 454 beds, including two with close care retirement living apartments, and two further development sites.

Overall, MACC Care, which was founded in 2004, operates 13 care homes with more openings planned this year and employs 750 staff looking after 831 residents.

Mark Gross, partner and head of development capital at Downing, said: “Our six-year partnership with MACC Care marks a successful period for both of us. Throughout the partnership, we have been impressed by the quality and specification of the sites being developed as well as the level of care provided.”

“As a certified B Corporation, we are delighted to have helped develop a market-leading provider of elderly care, delivering much-needed fit-for-purpose care beds into the West Midlands market and created new local employment opportunities. We wish the management and employees of MACC Care all the very best for the future as they embark on their next stage of growth”.