ARAG SE (ARAG Konzern)
Also known as ARAG, ARAG Konzern, ARAG Holding SE
Düsseldorf family-owned insurance group focused on legal-expenses cover; €6.9bn investments at end-2025, including PE and infrastructure funds held in a central fund structure.
Düsseldorf-based legal-expenses and specialty insurance group; not to be confused with Aragon-region entities (e.g. ARABAN, SODIAR in Spain).
- HEADQUARTERS
- Düsseldorf, Germany
- FOUNDED
- 1935
- AUM
- €6.9B (2025)
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 5 people
FOCUS
- STAGES
- GrowthBuyout
- ASSET MIX
- Private equityFunds (as LP)Real estatePublic equities
- GEOGRAPHY
- EuropeGlobal
WHAT IT IS
Institutional LP. Pension funds, endowments, foundations and sovereign funds that commit capital to funds and, sometimes, directly.
- ARAG Holding SEAsset-managing holding company at the top of the group (Vermögens- und Beteiligungsverwaltung)
- ARAG SEOperating group management and legal-expenses insurance, national and international
- ARAG Lebensversicherungs-AG / ARAG Krankenversicherungs-AG / ARAG AllgemeineGerman insurance subsidiaries (health, composite)
ABOUT
The ARAG Konzern, founded in 1935 as a legal-expenses insurer, describes itself as the largest family-owned company in German insurance and the world's largest legal-expenses insurer. ARAG Holding SE is the asset-managing holding company at the top of the group, and ARAG SE runs group operations and the legal-expenses business. The group's investments, €6.9bn at the end of 2025, are mainly bonds and real estate plus equities and alternatives, in particular private-equity and infrastructure investments. Since 2024 these alternatives have been held through a centrally administered fund structure.
INVESTMENT THESIS
Broadly diversified investment of insurance funds across sectors and regions; alternative investments, in particular private-equity and infrastructure funds, held in a centrally administered fund structure (fund-of-funds) to dampen valuation volatility.
PORTFOLIO (5)
- ACF V Growth GmbH & Co. KG (fund commitment)
- AXA LBO Fund V Core FCPR (fund commitment)
- AXA LBO Fund V Supplement (fund commitment)
- MEAG Infrastructure Debt Fund S.C.S. SICAV-FIS II (fund commitment)Climate & Energy
- RREEF Pan European Infrastructure Feeder GmbH & Co. KG (fund commitment)Climate & Energy
TEAM
- Dr. Dr. h. c. Paul-Otto FaßbenderChair of the Managing Board, ARAG Holding SE (holdings, audit, legal, compliance) · source
- Klaus HeiermannMember of the Managing Board, ARAG Holding SE (brand, risk and sustainability) · source
- Dr. Sven WolfMember of the Managing Board, ARAG Holding SE (finance, accounting, tax, HR, data security) · source
- Dr. Renko DirksenChair of the Managing Board, ARAG SE · source
- Prof. Dr. Tobias BürgersChair of the Supervisory Board, ARAG Holding SE · source
LINKS
FAQ
ARAG SE (ARAG Konzern) is a institutional investor based in Düsseldorf, Germany, founded in 1935.
ARAG SE (ARAG Konzern) does not primarily invest directly in private companies. It also commits capital to third-party funds as an LP.
ARAG SE (ARAG Konzern) invests at Growth and Buyout stages in Industrial & Manufacturing, Climate & Energy and Real Estate & PropTech.
Key people at ARAG SE (ARAG Konzern) include Dr. Dr. h. c. Paul-Otto Faßbender (Chair of the Managing Board, ARAG Holding SE (holdings, audit, legal, compliance)), Klaus Heiermann (Member of the Managing Board, ARAG Holding SE (brand, risk and sustainability)), Dr. Sven Wolf (Member of the Managing Board, ARAG Holding SE (finance, accounting, tax, HR, data security)) and Dr. Renko Dirksen (Chair of the Managing Board, ARAG SE).
ARAG SE (ARAG Konzern)'s investments include ACF V Growth GmbH & Co. KG (fund commitment), AXA LBO Fund V Core FCPR (fund commitment), AXA LBO Fund V Supplement (fund commitment), MEAG Infrastructure Debt Fund S.C.S. SICAV-FIS II (fund commitment) and RREEF Pan European Infrastructure Feeder GmbH & Co. KG (fund commitment).
No. ARAG SE (ARAG Konzern) invests its own capital and does not raise money from outside investors.