Investors looking for an investment theme that has the potential for growth at a steady pace over the next decade should consider taking a closer look at the residential aged care sector.

Listed wealth manger AMP (ASX:AMP) — through its funds management division AMP Capital — is one investor who is certainly seeing potential within the sector. AMP Capital recently announcing that it will increase its investment to the tune of $50 million in Australia’s aged care industry though its managed vehicle Domain Principal Group (DPG).

DPG currently owns 55 aged care facilities that provide support for over 4300 residents and recently received an allocation from the federal government to add another 385 beds at DPG facilities. AMP estimates that the residential aged care sector will grow by 40% in the next 10 years and require $25 billion in new capital to fund new places and rebuild existing homes.

There are a number of ways investors can gain exposure to this growing sector, including via Lifestyle Communities (ASX:LIC) and Ingenia Communities (ASX:INA). Lifestyle Communities was founded in 2003 and today has a market capitalisation of $85 million and around 600 homes under management. While Ingenia has a market capitalisation of $200 million and a business refocused on its core Australian seniors housing communities. Both stocks are selling close to their net asset backing and could offer a reasonable opportunity for investors to gain exposure to the aged care sector.

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Motley Fool contributor Tim McArthur does not own shares in any of the companies mentioned in this article.