Pensionskasse für die Deutsche Wirtschaft VVaG
Also known as PKDW, Pensionskasse für die Deutsche Wirtschaft, Pensionskasse der chemischen Industrie Deutschlands
Duisburg Pensionskasse (formerly of the chemical industry) with €2.3bn investments; €112.3m in private equity incl. infrastructure, €73.2m private debt (2025).
- HEADQUARTERS
- Duisburg, Germany
- FOUNDED
- —
- AUM
- €2.3B (2025)
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 2 people
Focus
- STAGES
- —
- SECTORS
- —
- ASSET MIX
- Private equityPrivate creditReal estatePublic equities
- GEOGRAPHY
- —
Investment arms & vehicles
- VIFA Pensionsfonds AGPensionsfonds subsidiary (Berlin, 100%)
Overview
The Pensionskasse für die Deutsche Wirtschaft VVaG (PKDW), formerly the Pensionskasse der chemischen Industrie Deutschlands, is a mutual pension fund (VVaG) based in Duisburg. At end-2025 its investments totalled €2,301.7m, of which €112.3m (4.9% at book value) were private equity investments, a category that also includes infrastructure, and €73.2m private debt. Its strategy keeps a combined 18% target for listed equities and private equity, to be reached through further commitments to selected infrastructure and private equity investments with capital calls. It owns VIFA Pensionsfonds AG in Berlin.
Investment thesis
Keep the 18% equity target (listed equities plus private equity) and close the gap mainly through further commitments to selected infrastructure and private equity investments with capital calls; use specialised external managers for global mandates.
People
Links
Frequently asked questions
Pensionskasse für die Deutsche Wirtschaft VVaG is a institutional investor based in Duisburg, Germany.
Pensionskasse für die Deutsche Wirtschaft VVaG does not primarily put its own money into private companies. It also commits capital to third-party funds as an LP.
Key people at Pensionskasse für die Deutsche Wirtschaft VVaG include Karin Germann (Spokesperson of the Executive Board (Vorstandssprecherin)) and Tanja Hahlen (Executive Board member).
No. Pensionskasse für die Deutsche Wirtschaft VVaG invests its own capital and does not raise money from outside investors.