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Institutional LPPuts its own capital into companiesLAST VERIFIED Oct 2026 · 3 SOURCES

Provinzial Konzern

Also known as Provinzial Holding AG, Provinzial, Provinzial Versicherung

Münster public-sector insurance group with €43.0bn investments (2025); €2.58bn in private markets (PE, private debt, infrastructure) via funds incl. Partners Group, Crown, Schroders.

Public-sector insurance group headquartered in Münster (Sparkassen-Finanzgruppe); covers Provinzial Versicherung (Düsseldorf), Provinzial Nord Brandkasse (Kiel), Provinzial Lebensversicherung (Kiel) and others. Not VGH Versicherungen' Provinzial Lebensversicherung Hannover, the Versicherungskammer Bayern or SV SparkassenVersicherung.

HEADQUARTERS
Münster, Germany
FOUNDED
—
AUM
€43B (2025)
OUTSIDE CAPITAL
No — own capital only
TEAM LISTED
8 people

Focus

STAGES
GrowthBuyout
SECTORS
—
ASSET MIX
Private equityPrivate creditReal estatePublic equities
GEOGRAPHY
Global

Investment arms & vehicles

  • Provinzial Asset Management GmbH
    Group asset manager; manages the group companies' investments under mandate
  • Provinzial Versicherung AG
    Regional P&C insurer (Düsseldorf)
  • Provinzial Nord Brandkasse AG
    Regional P&C insurer (Kiel)
  • Provinzial Lebensversicherung AG
    Life insurer of the group (Kiel)
  • Hamburger Feuerkasse Versicherungs-AG
    Regional P&C insurer (Hamburg, indirect)
  • Lippische Landesbrandversicherung AG
    Regional P&C insurer (Detmold, indirect)
  • Provinzial Next AG
    Holds nationwide insurers: Sparkassen DirektVersicherung, ProTect, andsafe, ÖRAG, Deutsche Assistance
  • Provinzial Beteiligungsgesellschaft mbH
    Group investment holding (Münster)

Overview

The Provinzial Konzern, led by the management holding Provinzial Holding AG in Münster, is a German public-sector insurance group with regional insurers in Düsseldorf, Kiel, Hamburg and Detmold and nationwide insurers held through Provinzial Next AG. At end-2025 its investments were €43.0bn, of which €2,583.9m (6.5% at market value) were in private markets, covering private equity, private debt, infrastructure debt and infrastructure equity. Its consolidated list of shareholdings names stakes of 2% to 19% in private equity funds managed by Schroders Capital, Partners Group, Crown, Yielco, Coller, Glendower, Bain Capital and others. Asset management is bundled in Provinzial Asset Management GmbH.

PORTFOLIO (16)

  • Schroders Capital Private Equity Global Innovation VIII L.P. (19.49%)
  • German Access Fund L.P. (15.31%)
  • Consal Beteiligungsgesellschaft AG (15.02%)
  • Partners Group Secondary 2020 (EUR) L.P. S.C.Sp. SICAV-RAIF (14.46%)
  • Crown Premium Private Equity IX S.C.S., SICAV-RAIF (13.24%)
  • Schroders Capital Private Equity Global Innovation IX S.C.S. (13.23%)
  • Yielco Special Situations II SCS, SICAV-RAIF (11.45%)
  • Partners Group Direct Equity V (EUR) L.P. S.C.Sp., SICAV-RAIF (10.67%)
  • Crown Premium Opportunistic Strategies I S.C.S., SICAV-RAIF (8.59%)
  • Schroders Capital Private Equity Global Innovation X S.C.S. i. L. (5.96%)
  • Crown Premium Private Equity VIII Master S.C.S., SICAV-FIS (3.93%)
  • Coller International Partners VIII Luxembourg, SLP (3.25%)
  • Glendower Capital SOF V (Feeder A), SCSp (2.49%)
  • Bain Capital Europe Fund VI, SCSp (2.06%)
  • Amprion GmbH (indirect; 35% of Versicherungskammer's Amprion holding vehicle, 2025)
    Climate & Energy · since 2025
  • Aquarius Beteiligungs GmbH & Co. KG (35.00%)

People

  • Dr. Wolfgang Breuer
    Chairman of the Executive Board · source
  • Patric Fedlmeier
    Deputy Chairman of the Executive Board · source
  • Dr. Ulrich Scholten
    Executive Board member, finance and investments · source
  • Sabine Krummenerl
    Executive Board member, P&C, reinsurance, broker sales · source
  • Nina Schmal
    Executive Board member, customers/brands · source
  • Dr. Rainer Sommer
    Executive Board member, operations and technology · source
  • Christian Schick
    Managing Director (Geschäftsführer), Provinzial Asset Management · source
  • Dr. Stefanie Alt
    Executive Board member, life (since 1 March 2026) · source

Links

Frequently asked questions

Provinzial Konzern is a institutional investor based in Münster, Germany.

Yes. Provinzial Konzern invests its own capital in private companies. It also commits capital to third-party funds as an LP.

Provinzial Konzern invests at Growth and Buyout stages.

Key people at Provinzial Konzern include Dr. Wolfgang Breuer (Chairman of the Executive Board), Patric Fedlmeier (Deputy Chairman of the Executive Board), Dr. Ulrich Scholten (Executive Board member, finance and investments) and Sabine Krummenerl (Executive Board member, P&C, reinsurance, broker sales).

Provinzial Konzern's investments include Schroders Capital Private Equity Global Innovation VIII L.P. (19.49%), German Access Fund L.P. (15.31%), Consal Beteiligungsgesellschaft AG (15.02%), Partners Group Secondary 2020 (EUR) L.P. S.C.Sp. SICAV-RAIF (14.46%), Crown Premium Private Equity IX S.C.S., SICAV-RAIF (13.24%), Schroders Capital Private Equity Global Innovation IX S.C.S. (13.23%), Yielco Special Situations II SCS, SICAV-RAIF (11.45%) and Partners Group Direct Equity V (EUR) L.P. S.C.Sp., SICAV-RAIF (10.67%), among others.

The most recent publicly reported investment by Provinzial Konzern is Amprion (via Versicherungskammer holding vehicle) (Indirect minority stake (35% of holding vehicle)), announced in Mar 2025.

No. Provinzial Konzern invests its own capital and does not raise money from outside investors.