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Institutional LPPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 7 SOURCES

Kirchliche Zusatzversorgungskasse Rheinland-Westfalen (KZVK Dortmund)

Also known as KZVK Rheinland-Westfalen, KZVK Dortmund, Kirchliche Versorgungskassen KZVK und VKPB

Dortmund church pension fund for Protestant churches and Diakonie; €12.0bn of investments (2025) incl. €1.52bn in global PE funds and €1.30bn of open PE commitments.

Protestant church and Diakonie supplementary pension fund in Dortmund; not the Catholic KZVK in Köln (separate record, kzvk-koeln).

HEADQUARTERS
Dortmund, Germany
FOUNDED
—
AUM
€12B (2025)
OUTSIDE CAPITAL
No — own capital only
TEAM LISTED
7 people

Focus

STAGES
—
SECTORS
—
ASSET MIX
Private equityFunds (as LP)Real estatePublic equities
GEOGRAPHY
Global

Investment arms & vehicles

  • VKD Invest SICAV-SIF SCA (sub-funds PE Global A, B, C and AI Global D)
    Luxembourg fund vehicle through which the KZVK holds its global private-equity and alternative-investment fund portfolio (book value €1.52bn at end-2025)
  • Gemeinsame Versorgungskasse für Pfarrer und Kirchenbeamte (VKPB)
    Sister pension fund in Dortmund; works with the KZVK in an organisational community since 1998, with investments managed jointly

Overview

The Kirchliche Zusatzversorgungskasse Rheinland-Westfalen is a public-law supplementary pension fund in Dortmund serving churches and Diakonie, working since 1998 in an organisational community with the clergy pension fund VKPB, with which it manages about €20bn of investments (January 2026). The KZVK's own investments had a book value of €12.05bn at end-2025. Its alternatives programme focuses on private-equity funds in a global approach, partly through external mandates in which it holds a veto, held via sub-funds of VKD Invest SICAV-SIF; in 2025 it put €239m of new money into private equity and had €1.30bn of open PE commitments plus €2.34bn to property funds. Together with the VKPB it manages about 3,800 flats and 130,000 m² of commercial space, mainly in North Rhine-Westphalia, and in 2025 the KZVK committed to Northern Horizon's Aged Care Social Infrastructure Fund, which invests in Nordic care homes.

PORTFOLIO (5)

  • VKD Invest SICAV-SIF SCA – PE Global A
  • VKD Invest SICAV-SIF SCA – PE Global B
  • VKD Invest SICAV-SIF SCA – PE Global C
  • VKD Invest SICAV-SIF SCA – AI Global D
  • Northern Horizon Aged Care Social Infrastructure Fund
    Real Estate & PropTech · since 2025

People

  • Dr. Wolfram Gerdes
    Board member, investments and finance (Vorstand Kapitalanlagen und Finanzen) · source
  • Hans-Rudolf von Campenhausen
    Board member, benefits and administration (Vorstand Leistung und Verwaltung) · source
  • Axel Rahn
    Head of Asset Management (Abteilungsleitung Assetmanagement; strategic asset allocation) · source
  • Christian Bonnet
    Team lead, Alternatives (global private-equity funds) · source
  • Ingmar R. Rupp
    Team lead, real-estate funds · source
  • Matthias Lange
    Team lead, securities funds (multi-manager) · source
  • Tobias Nolte
    Team lead, direct bond portfolio · source

Links

Frequently asked questions

Kirchliche Zusatzversorgungskasse Rheinland-Westfalen (KZVK Dortmund) is a institutional investor based in Dortmund, Germany.

Yes. Kirchliche Zusatzversorgungskasse Rheinland-Westfalen (KZVK Dortmund) invests its own capital in private companies. It also commits capital to third-party funds as an LP.

Key people at Kirchliche Zusatzversorgungskasse Rheinland-Westfalen (KZVK Dortmund) include Dr. Wolfram Gerdes (Board member, investments and finance (Vorstand Kapitalanlagen und Finanzen)), Hans-Rudolf von Campenhausen (Board member, benefits and administration (Vorstand Leistung und Verwaltung)), Axel Rahn (Head of Asset Management (Abteilungsleitung Assetmanagement; strategic asset allocation)) and Christian Bonnet (Team lead, Alternatives (global private-equity funds)).

Kirchliche Zusatzversorgungskasse Rheinland-Westfalen (KZVK Dortmund)'s investments include VKD Invest SICAV-SIF SCA – PE Global A, VKD Invest SICAV-SIF SCA – PE Global B, VKD Invest SICAV-SIF SCA – PE Global C, VKD Invest SICAV-SIF SCA – AI Global D and Northern Horizon Aged Care Social Infrastructure Fund.

The most recent publicly reported investment by Kirchliche Zusatzversorgungskasse Rheinland-Westfalen (KZVK Dortmund) is Northern Horizon Aged Care Social Infrastructure Fund (fund commitment, with Helaba), announced in Sep 2025.

No. Kirchliche Zusatzversorgungskasse Rheinland-Westfalen (KZVK Dortmund) invests its own capital and does not raise money from outside investors.