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Institutional LPNo direct investingLAST VERIFIED Oct 2026 · 4 SOURCES

Rentenzuschusskasse der N-ERGIE

Pension fund (Trägerunternehmen) of N-ERGIE Aktiengesellschaft (Städtische Werke Nürnberg group)

Also known as Rentenzuschusskasse der N-ERGIE Aktiengesellschaft Nürnberg VVaG, RZK, Rentenzuschusskasse der Fränkisches Überlandwerk AG

Small mutual pension fund (VVaG) of the Nuremberg utility N-ERGIE; €232M investments (2025), incl. €34M in PE, private-debt and wind/solar park participations.

HEADQUARTERS
Nürnberg, Germany
FOUNDED
1927
AUM
€232M (2025)
OUTSIDE CAPITAL
No — own capital only
TEAM LISTED
5 people

FOCUS

STAGES
—
SECTORS
Climate & Energy
ASSET MIX
Private equityPrivate creditReal estatePublic equities
GEOGRAPHY
—

WHAT IT IS

Institutional LP. Pension funds, endowments, foundations and sovereign funds that commit capital to funds and, sometimes, directly.

ABOUT

The Rentenzuschusskasse der N-ERGIE Aktiengesellschaft Nürnberg VVaG is a small mutual insurance association under § 210 VAG, founded in 1927 as the pension fund of Fränkisches Überlandwerk AG and renamed in 2002. It provides supplementary pensions to employees of the Städtische Werke Nürnberg group, including N-ERGIE and VAG. Its investments were €231.96M at end-2025; participations of €33.96M book value comprise wind and solar parks and private-equity and private-debt holdings investing in Mittelstand companies, alongside 22 investment funds, direct real estate and bonds. In a 2024 interview a board member said the fund had used its full 15% participation quota for private equity and wind and solar parks.

TEAM

  • Markus Madache
    Member of the Executive Board (Vorstand) · source
  • Thomas Dumser
    Member of the Executive Board (Vorstand) · source
  • Rudolf Laubinger
    Member of the Executive Board (Vorstand) · source
  • Michael Berger
    Member of the Executive Board (Vorstand) · source
  • Karlheinz Kratzer
    Chairman of the Supervisory Board · source

LINKS

FAQ

Rentenzuschusskasse der N-ERGIE is a institutional investor based in Nürnberg, Germany, founded in 1927.

Rentenzuschusskasse der N-ERGIE does not primarily invest directly in private companies. It also commits capital to third-party funds as an LP.

Rentenzuschusskasse der N-ERGIE invests in Climate & Energy.

Key people at Rentenzuschusskasse der N-ERGIE include Markus Madache (Member of the Executive Board (Vorstand)), Thomas Dumser (Member of the Executive Board (Vorstand)), Rudolf Laubinger (Member of the Executive Board (Vorstand)) and Michael Berger (Member of the Executive Board (Vorstand)).

No. Rentenzuschusskasse der N-ERGIE invests its own capital and does not raise money from outside investors.