Investor interest in aged care fund
Sydney-based fund manager, Spire Capital, claims it has received solid support from local investors for its US aged care private equity fund offered in partnership with US real estate investment manager Bridge Investment Group Partners.
The product, the Spire USA Real Estate Opportunity Capital Seniors Housing and Medical Properties Fund is the second fund to be offered to Australian retail investors by the two companies and aims to raise $50 million as part of a $US600 million global capital raising.
Bridge Investment Group invests in US aged care facilities which include independent living, assisted living, and facilities specialising in the accommodation of seniors with Alzheimer's, known as Memory Care facilities.
The company said that, to date, around $12.5 million has been received from Australian investors since late June.
The Seniors Housing fund has received a 'Highly Recommended' rating from research and ratings house, Zenith.
Recommended for you
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.
