Nordrheinische Ärzteversorgung
Pension institution of Ärztekammer Nordrhein
Also known as NÄV, Nordrheinische Aerzteversorgung
Düsseldorf doctors' pension scheme with €16.9bn of investments (2024); 30.9% in alternatives incl. €1.93bn private equity, €1.42bn infrastructure, €1.45bn private debt.
Pension scheme for doctors in the Nordrhein region (Ärztekammer Nordrhein); not the Ärzteversorgung Westfalen-Lippe or the Bayerische Ärzteversorgung.
- HEADQUARTERS
- Düsseldorf, Germany
- FOUNDED
- 1958
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 6 people
Focus
- STAGES
- —
- SECTORS
- —
- ASSET MIX
- Private equityPrivate creditHedge fundsReal estatePublic equities
- GEOGRAPHY
- EuropeNorth AmericaGlobal
Overview
The Nordrheinische Ärzteversorgung (NÄV) is the professional pension scheme of the Ärztekammer Nordrhein, a public-law body in Düsseldorf providing pensions to doctors in the Nordrhein region since 1958. At end-2024 its investments stood at €16.86bn. Alternative investments (funds of hedge funds, infrastructure, private equity and private debt) reached 30.9% of the portfolio, with private equity at €1.93bn (11.4%), infrastructure funds at €1.42bn (8.4%) and private debt at €1.45bn (8.6%). It continues to make new private equity commitments diversified across Europe and North America and runs its infrastructure allocation partly through managed accounts with external portfolio managers.
Investment thesis
Security and profitability with liquidity at all times through a broad mix of assets; increasing allocation to illiquid alternatives (infrastructure, private equity, private debt) for an illiquidity premium; continuous new PE commitments diversified across Europe and North America toward a 12.1% strategic allocation.
People
- Dr. Steffen BreuerManaging Director (Geschäftsbereich I) · source
- Bernd FrankenManaging Director (Geschäftsbereich II: mortgages, real estate, finance, securities) · source
- Andreas ReichelHead of Securities (Abteilungsdirektor Wertpapiere) · source
- Benedikt GaborHead of Real Estate · source
- Jens HennesMember of the Administrative Committee (investment specialist) · source
- Dr. Sven DreyerChair of the Administrative Committee; President, Ärztekammer Nordrhein · source
Links
Frequently asked questions
Nordrheinische Ärzteversorgung is a institutional investor based in Düsseldorf, Germany, founded in 1958.
Nordrheinische Ärzteversorgung does not primarily put its own money into private companies. It also commits capital to third-party funds as an LP.
Key people at Nordrheinische Ärzteversorgung include Dr. Steffen Breuer (Managing Director (Geschäftsbereich I)), Bernd Franken (Managing Director (Geschäftsbereich II: mortgages, real estate, finance, securities)), Andreas Reichel (Head of Securities (Abteilungsdirektor Wertpapiere)) and Benedikt Gabor (Head of Real Estate).
No. Nordrheinische Ärzteversorgung invests its own capital and does not raise money from outside investors.