Versorgungswerk der Steuerberater in Hessen
Also known as VStBH, Steuerberaterversorgungswerk Hessen
Pension scheme for Hessen tax advisers (est. 2002), run from Düsseldorf; €948M investments (2025); LP in LGT, Partners Group and Golding PE, debt and infra programmes.
Pension scheme for tax advisers in Hessen, administered from Düsseldorf by the office of the Versorgungswerk der Steuerberater im Land Nordrhein-Westfalen (StBV NRW) under a service agreement; it is a separate public-law body with its own board and assets.
- HEADQUARTERS
- Düsseldorf, Germany
- FOUNDED
- 2002
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 4 people
FOCUS
- STAGES
- —
- SECTORS
- —
- ASSET MIX
- Private equityPrivate creditFunds (as LP)Real estatePublic equities
- GEOGRAPHY
- EuropeNorth America
WHAT IT IS
Institutional LP. Pension funds, endowments, foundations and sovereign funds that commit capital to funds and, sometimes, directly.
ABOUT
The Versorgungswerk der Steuerberater in Hessen (VStBH) is a self-governing public-law pension scheme founded in 2002, supervised by the State of Hessen and administered by the office of the StBV NRW in Düsseldorf. At end 2025 it held €948M of capital investments (€989M including liquidity) and had more than 5,000 contributing members. Alternative investments (private equity, private debt and infrastructure), held since 2014, are its largest segment at about 30% of assets in mid-2025, all through external managers and funds of funds. Recent commitments include an LGT Capital Partners private-equity evergreen mandate of about €100M (Aeternum), a VStBH-led private-debt club deal with Golding and a €40M Partners Group infrastructure mandate shared with the StBV NRW.
PORTFOLIO (4)
- Aeternum — private equity evergreen separately managed account (fund of funds) managed by LGT Capital Partners, about €100M; board decision Feb 2024, launch planned Jan 2025since 2024
- Partners Group infrastructure mandate — €40M, club deal with the StBV NRW using an StBV NRW vehicle; manager chosen April 2025, start expected by end 2025since 2025
- Partners Group Subordinated Debt Fund S.C.A. SICAV-RAIF — private debt fund (€548M), VStBH share 2.7%
- Golding — four private debt funds: three funds of funds plus an individual club-deal mandate with several other Versorgungswerke, led by VStBH
TEAM
LINKS
FAQ
Versorgungswerk der Steuerberater in Hessen is a institutional investor based in Düsseldorf, Germany, founded in 2002.
Versorgungswerk der Steuerberater in Hessen does not primarily invest directly in private companies. It also commits capital to third-party funds as an LP.
Key people at Versorgungswerk der Steuerberater in Hessen include Antje Poppe (Chair of the Board (Vorstandsvorsitzende), legal representative), Markus Holzinger (Deputy Chair of the Board), Ariane Dohle (Managing Director (Geschäftsführerin)) and Marc Wittmann (Managing Director (Geschäftsführer)).
Versorgungswerk der Steuerberater in Hessen's investments include Aeternum — private equity evergreen separately managed account (fund of funds) managed by LGT Capital Partners, about €100M; board decision Feb 2024, launch planned Jan 2025, Partners Group infrastructure mandate — €40M, club deal with the StBV NRW using an StBV NRW vehicle; manager chosen April 2025, start expected by end 2025, Partners Group Subordinated Debt Fund S.C.A. SICAV-RAIF — private debt fund (€548M), VStBH share 2.7% and Golding — four private debt funds: three funds of funds plus an individual club-deal mandate with several other Versorgungswerke, led by VStBH.
The most recent publicly reported investment by Versorgungswerk der Steuerberater in Hessen is Partners Group infrastructure mandate (club deal with StBV NRW) — €40M commitment (LP commitment), announced in Sep 2025.
No. Versorgungswerk der Steuerberater in Hessen invests its own capital and does not raise money from outside investors.