• Daniel Ahrendt assumed the role of Chief Executive Officer of Carestone Group in January 2026
• Ahrendt represents a continuity hire, having had personal oversight over Carestone’s management, operations, and growth strategy for over seven years as part of his role at ActivumSG
• Appointment comes as the ActivumSG portfolio company, which has delivered over 21,000 senior care units in Germany to date, is primed to take advantage of an expected market recovery

Hanover, February 2026: Carestone Group (Carestone), Germany’s leading senior care home developer, has strengthened its executive team with the appointment of Daniel Ahrendt as Chief Executive Officer (CEO).

With this appointment, Carestone places a deliberate emphasis on continuity, after Ahrendt was appointed the company’s interim Chief Financial Officer in June 2025. Ahrendt will remain as CFO.

In addition to Ahrendt, Carestone’s executive team includes a Ralf Licht (Chief Development Officer) and Sandro Pawils (Chief Sales Officer). Together, the executive team is responsible for the strategic direction and operational management of the company.

Prior to joining Carestone’s leadership, Ahrendt had worked closely with the company’s executive team for seven years as part of his role at its majority shareholder ActivumSG, one of Europe’s largest independent real estate investment managers.

At ActivumSG, Ahrendt was most recently a Director within the investment manager’s Corporate Transactions team, where he had personal oversight over Carestone’s growth strategy and operational development.

Carestone was formed by ActivumSG in 2019 following the merger of WI-IMMMOGroup and WirtschaftsHaus, which were acquired by ActivumSG-advised funds in two separate transactions.

To date, Carestone has delivered over 21,000 senior care units and is well-positioned to capitalise on the significant opportunity in Germany’s senior living sector, with an existing €1.3 billion GDV secured development pipeline encompassing 4,800 units across 60 projects, and an additional €500 million in GDV currently being evaluated. Various forecasts indicate a shortage of 300,000 to 500,000 care beds in Germany, with existing supply failing to keep pace with growing demand.

Daniel Ahrendt, CEO of the Carestone Group, commented: “Carestone’s business model combines financial strength with social responsibility. The company’s deep market knowledge, highly specialised delivery model, and focus on improving societal outcomes make it uniquely placed to benefit from the opportunity in Germany’s senior care sector, which is supported by long-term demographic tailwinds.

“Together with the existing management team, we will continue to develop Carestone strategically and operationally to build on its market-leading position.”

Stefan Mohr, Head of Corporate Transactions at ActivumSG, added: “Carestone is a perfect encapsulation of our ability to partner with existing management teams to scale real estate platforms within the European living and hospitality sectors. Corporate investments like Carestone provide our clients with differentiated access to some of Europe’s most compelling real estate opportunities, which are often marked by a deep structural under-supply of institutional-quality product.

“Under Daniel’s leadership, Carestone will continue to make a significant contribution to addressing the healthcare and housing challenges that come with an ageing population.”