New Finance Player Makes Surprise Foray into Ageing – in Germany

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Nine months ago, Sydney-based Mariner Financial established its Third-Age Retirement Living division – led by Scott Marinchek – to create innovative investment products in the ageing sector. Its first foray – a joint-venture investment fund with a subsidiary of HSH Norsbank AG of Hamburg, Germany – will finance German aged care and retirement-related real estate assets. The idea is that Australians will invest in the fund from here. Predicting an additional $19.5 billion needs to be spent on nursing homes over the next 12 years, the German Government has developed a generous aged care support scheme.