Swiss Life Asset Managers has so far seeded its new healthcare fund with €246 mln of assets to which Swiss Life Group has committed more than €180 mln as an investor, the company has said.
This includes 16 seniors housing homes in Germany and six seniors housing assets in France. The team has also secured exclusivity on the possible acquisition of a seniors housing asset in Milan, Italy, plus a seventh seniors housing asset in France.
In an update, the company with €90 bn of real estate said its European Healthcare fund had been designed to respond to structural demand for investment in the European healthcare sector in a 'locally targeted way'.
It is led by Valérie Maréchal, head of residential and care at Swiss Life Asset Managers France.
An ageing population in Europe is increasing the burden on healthcare infrastructure, while the dependence of elderly people is creating a shortage of adequate housing, it said. Although the coronavirus pandemic appears to have brought about a shift in priorities, public finances are strained and there is a dearth of public commitments to healthcare infrastructure.
The fund will invest in geographically diversified assets, with 30% of assets in Germany, 30% in France and 40% in the rest of Europe – with an initial focus on opportunities in Spain and Italy. In terms of sector breakdown, the fund plans to allocate about a third of investments to nursing homes and a further third to senior housing assets, while the rest of the portfolio may be invested in other healthcare-related assets.
Looking ahead
Maréchal said, 'In 2050, there will be one person over 60 for every two of working age. This presents a substantial challenge for European societies, which we want to help solve. Our aim at Swiss Life is to create a continuity care plan, which begins at home and helps individuals live a longer self-determined life.'
