Personae Fund, investments in retirement homes

On 11 April 2016 – On the occasion the Breakfast Meeting “Long Term Care & Real Estate: Development and investment prospects in the senior living sector” organised by ULI Italy and DLA Piper, Serenissima SGR (as manager of the Fund) and the Orpea Group (as promoter) announced the next establishment of the Personae Fund.

The Personae Fund is a fund dedicated to real estate investments in senior living facilities. Its under-management assets are expected to consist of shares subscribed by qualified investors up to a maximum of € 900,000,000, as well as the possibility of resorting to financing from credit institutions, up to a maximum of 50% of the capital. The Fund’s investments will be directed mainly in Europe (Euro area), and in particular towards Italy for at least 50%.

The Fund, reserved for Qualified Institutional Investors (Pension Funds, Social Security Funds, Health Funds, Insurance, Family Office), provides for the investment of more than 70% and up to 100% of its assets mainly in real estate and real estate rights, including those deriving from real estate leasing contracts with a translational nature and from concessionary relationships having the destination of “functions, services, activities and businesses linked to care for the elderly, to the disabled (physical and mental) and to the traumatized even if they are not elderly”.

This structural investment instrument was designed and designed for investors seeking medium- to long-term investment, with secure returns guaranteed by an underlying asset composed of structurally oriented properties, destined for a market that, for the next 30 years, will naturally demonstrate an estimated annual user growth rate of 5%. With a duration of 25 years, the fund makes it possible to finance the development of new facilities, responding to today’s and future needs of a growing market.

“The progressive aging of the population in Europe, and particularly in Italy, will necessarily lead to a greater need in the coming years for facilities capable of offering adequate and qualified social and health care and rehabilitation and long-term post-acute hospitalization services” declares Tribuno. Hence the need for structural intervention aimed at developing, modernizing, and updating the current fleet of facilities, insufficient to meet the growing demand for healthcare and assistance. The modern structures that are created through the fund instead fully respond to the needs of each individual for assistance and care.

Roberto Tribuno attended several events to illustrate the potential of this interesting tool. The Fund was launched and presented through a series of dedicated Road Shows that took place in Milan, Rome, Verona, Saturnia, Syracuse and Capri.

Since 2016, Roberto Tribuno has participated in countless conferences, round tables, and panels in which he illustrates the opportunities that the Fondo Personae project represents today. Among these, some editions of the “Value Forum”, events on Impact Investing and Alternative Investments, the “Forum of Health Funds and Social Security Funds” are mentioned.