Caisse de Pension de la Société Suisse de Pharmacie

Caisse de Pension de la Société Suisse de Pharmacie

Founded in 1959 by pharmaSuisse, the Swiss Society of Pharmacists, Caisse de Pension de la Société Suisse de Pharmacie (CPSSPH) began as a modest scheme for a single profession and expanded meaningfully in 1985 when Switzerland's second pillar became mandatory for employees. The fund serves pharmacies, individual pharmacists, cantonal pharmacy societies, and health-sector employers tied to the pharmaceutical branch, all governed by a parity-based foundation board that seats four employer and four employee representatives. CPSSPH deploys capital across a deliberately diversified set of asset classes. Its real estate exposure includes direct ownership of the office building at Rue Pedro-Meylan 7 in Geneva and participation in the Prisma Global Residential Real Estate vehicle. The fund commits to private markets through buyout funds, general venture funds, and fund-of-funds strategies, and it holds a dedicated Insurance Linked Strategies allocation. A domestic private credit program operates via FWI Prêts aux PME CHF, a lending vehicle for Swiss small and medium enterprises. The fund's investment architecture relies heavily on two co-investment platforms: Prisma Fondation, a professional investment foundation where Philipp Aegerter serves as President, and Fondation Winterthur, where Aegerter chairs the Investment Controlling Committee. CPSSPH's investment governance is anchored by Philipp Aegerter, the named operative who presides over the two foundations that handle the fund's co-investment and lending activities. The fund is a member of ASIP, the Swiss pension fund association, and maintains administrative links to OFAC, the billing office for Swiss pharmacists, which shares its Geneva headquarters. In September 2023, the fund updated its data protection declarations to comply with Switzerland's new Federal Act on Data Protection (LPD), reflecting the operational adjustments typical of Swiss pension institutions managing regulated member data. CPSSPH's structural differentiator lies in its foundation-based co-investment model. Rather than managing assets entirely in-house or delegating to a single external manager, the fund acts as a member-investor in Prisma Fondation, a dedicated investment foundation that pools capital from multiple pension funds to access real estate and private market strategies. This structure gives CPSSPH the scale and diversification benefits of a pooled vehicle while preserving the governance role through Aegerter's presidency, creating a hybrid that sits between a pure direct investor and a passive limited partner.