Ärzteversorgung Westfalen-Lippe (ÄVWL)
Pension institution of Ärztekammer Westfalen-Lippe (Körperschaft des öffentlichen Rechts)
Also known as ÄVWL, AEVWL, Aerzteversorgung Westfalen-Lippe
Münster pension scheme for Westfalen-Lippe doctors, founded 1960; €15.7bn of investments (2025) with large private-equity, private-debt and direct infrastructure programmes.
Doctors' pension scheme of the Ärztekammer Westfalen-Lippe; separate from the Zahnärzte- (VZWL) and Tierärzte-Versorgungswerke in Westfalen-Lippe.
- HEADQUARTERS
- Münster, Germany
- FOUNDED
- 1960
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 7 people
FOCUS
- STAGES
- —
- ASSET MIX
- Private equityPrivate creditReal estateFunds (as LP)Impact
- GEOGRAPHY
- EuropeNorth America
WHAT IT IS
Institutional LP. Pension funds, endowments, foundations and sovereign funds that commit capital to funds and, sometimes, directly.
- ÄVWL Lux FIS IAlternative special fund pooling more than 100 target-fund holdings in private equity, direct lending, infrastructure and turnaround/special situations
- ÄVWL Lux FIS IISpecial fund investing globally in real-estate funds and investments
- Infrastruktur-Debt-FondsOwn fund structuring infrastructure and real-estate financings (11 financings, ~€760m at end-2025)
- Infrastruktur-Equity-FondsOwn infrastructure equity fund launched Q4 2020 (~€557m at end-2025)
- Ärztliche BeteiligungsgesellschaftVehicle of five Versorgungswerke led by ÄVWL; largest owner group of M 31 (74.9% of Amprion)
ABOUT
The Ärzteversorgung Westfalen-Lippe (ÄVWL) is the professional pension scheme of the Ärztekammer Westfalen-Lippe, founded in 1960 and based in Münster, with 50,424 members and €15.75bn of investments at end-2025. Its Lux FIS I special fund pools more than 100 target-fund commitments in private equity, direct lending, infrastructure and special situations, mainly in Europe and the US, and it runs its own infrastructure debt and infrastructure equity funds. It also finances projects directly, including seven solar parks in northern Italy built by Ellomay Capital (2025), the Talasol solar park in Spain (since 2021) and Vantage Towers' mast network (2025). It leads the Ärztliche Beteiligungsgesellschaft of five Versorgungswerke, the largest owner group in M 31, which holds 74.9% of grid operator Amprion.
PORTFOLIO (5)
- Amprion (via Ärztliche Beteiligungsgesellschaft and M 31 Beteiligungsgesellschaft)NOTABLEClimate & Energy
- Seven solar parks in northern Italy (Ellomay Capital; registered-bond financing)Climate & Energy · since 2025
- Talasol solar park, Spain (refinancing, with Ellomay Capital)Climate & Energy · since 2021
- Vantage Towers AG (registered bond, mast financing)since 2025
- Lappfjärd wind farms, FinlandClimate & Energy
TEAM
- Lutz HorstickManaging Director, Head of Investments (Geschäftsbereich Kapitalanlage) · source
- Christian KoopmannManaging Director, Insurance Operations and IT · source
- Dr. Ulrich SonnemannManaging Director, Internal Administration · source
- Markus AltenhoffHead of Investments (Leiter Kapitalanlagen), as quoted in 2026 · source
- Manuela MetteSenior Portfolio Manager · source
- Prof. Dr. med. Peter CzeschinskiChairman of the Administrative Committee (Verwaltungsausschuss) · source
- Dr. med. Patricia Kalle-DrosteChair of the Supervisory Committee (Aufsichtsausschuss) · source
LINKS
FAQ
Ärzteversorgung Westfalen-Lippe (ÄVWL) is a institutional investor based in Münster, Germany, founded in 1960.
Yes. Ärzteversorgung Westfalen-Lippe (ÄVWL) invests directly in private companies. It also commits capital to third-party funds as an LP.
Ärzteversorgung Westfalen-Lippe (ÄVWL) invests in Climate & Energy and Real Estate & PropTech.
Key people at Ärzteversorgung Westfalen-Lippe (ÄVWL) include Lutz Horstick (Managing Director, Head of Investments (Geschäftsbereich Kapitalanlage)), Christian Koopmann (Managing Director, Insurance Operations and IT), Dr. Ulrich Sonnemann (Managing Director, Internal Administration) and Markus Altenhoff (Head of Investments (Leiter Kapitalanlagen), as quoted in 2026).
Ärzteversorgung Westfalen-Lippe (ÄVWL)'s investments include Amprion (via Ärztliche Beteiligungsgesellschaft and M 31 Beteiligungsgesellschaft), Seven solar parks in northern Italy (Ellomay Capital; registered-bond financing), Talasol solar park, Spain (refinancing, with Ellomay Capital), Vantage Towers AG (registered bond, mast financing) and Lappfjärd wind farms, Finland.
The most recent publicly reported investment by Ärzteversorgung Westfalen-Lippe (ÄVWL) is Vantage Towers AG (registered bond financing its tower masts) (Infrastructure debt), announced in May 2025.
No. Ärzteversorgung Westfalen-Lippe (ÄVWL) invests its own capital and does not raise money from outside investors.