# Baden-Badener Pensionskasse

Baden-Badener Pensionskasse is a Pension Fund based in Baden-Baden, Germany.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Baden-Baden, Germany
- **Region:** Europe
- **Address:** Hans-Bredow-Straße 2 Torgebäude, 76530 Baden-Baden, Germany
- **Founded:** 1997
- **Assets under management:** Undisclosed
- **Website:** bbp.ard.de
- **LinkedIn:** https://www.linkedin.com/company/bbp-baden-badener-pensionskasse

## Regulatory record

- **Reports private funds:** No

## About

Baden-Badener Pensionskasse was founded in 1997 to provide occupational old-age provision for staff of public broadcasters in the ARD network. ZDF joined as a member in 2019. The fund operates as a mutual insurance association under German regulatory oversight. Capital is deployed across four main asset classes: infrastructure, real estate, private equity and private debt. The HI-bbp-Alternatives-Masterfonds holds $838M and channels commitments to global infrastructure via Swiss Life Asset Managers and to European real estate via Helaba Invest. Confirmed holdings include the HI-bbp-Alternatives real estate portfolio valued at $547M and a private debt book of $61M. Geographic exposure centers on Germany and broader Europe with selective global infrastructure positions. The firm employs 20 professionals and maintains no additional offices. All alternative assets sit inside the HI-bbp-Alternatives-Masterfonds administered by Helaba Invest and INKA. In November 2024 the fund attended the DAV / DGVFM Autumn Meeting on actuarial data science and risk management. The pension fund maintains a dedicated master-fund structure that separates liquid bond and equity segments from illiquid alternatives. This architecture allows long-duration commitments without direct staff management of individual deals.

## Sectors

- Infrastructure
- Real Estate
- Private Equity
- Private Debt

## People

- Jens Veit — Portfolio Manager
- Gerhard Monsberger — Former Vorstand Kapitalanlagen

## Questions

### Who runs investment decisions at Baden-Badener Pensionskasse?

Jens Veit serves as Portfolio Manager responsible for alternative investments and infrastructure. Gerhard Monsberger previously held the Vorstand Kapitalanlagen role.

### Does Baden-Badener Pensionskasse participate in fund commitments or only direct deals?

The fund commits exclusively through master funds and external managers. All alternatives flow via the HI-bbp-Alternatives-Masterfonds and Swiss Life mandates.

### Which asset classes receive the largest allocations?

Real estate and infrastructure dominate the alternatives sleeve. The real estate portfolio stands at $547M and infrastructure at $199M within the master fund.

### How is Baden-Badener Pensionskasse related to ARD?

ARD is the founding and primary sponsoring organization. The fund provides reinsurance for occupational pensions of ARD employees and later added ZDF, Deutsche Welle and Deutschlandradio.

### What is the fund's known posture on co-investments alongside external GPs?

No direct co-investments are disclosed. Exposure occurs only through fund vehicles managed by Helaba Invest and Swiss Life Asset Managers.

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Last updated: 2026-06-03T20:00:00.000Z

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