# CPCN

CPCN is a Pension Fund based in La Chaux-de-Fonds, Switzerland.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** La Chaux-de-Fonds, Switzerland
- **Region:** Europe
- **Address:** Rue du Pont 23, 2300 La Chaux-de-Fonds, Switzerland
- **Founded:** 2010
- **Assets under management:** CHF 6.0B - 6.5B (Altss estimate)
- **Website:** cpcn.ch

## Regulatory record

- **Reports private funds:** No

## About

Formed in 2010 from the merger of three separate Neuchâtel public-sector pension funds, CPCN serves as the centralized retirement vehicle for the canton's civil servants—a consolidation meant to strengthen funding ratios and streamline administration under a single entity. The State of Neuchâtel acts as the primary affiliated employer and provides an explicit legal guarantee for the fund's obligations, a structural backstop that sets it apart from autonomous corporate schemes. CPCN's portfolio blends a large direct real estate and mortgage component with external fund commitments. On the direct side, the fund originates residential and rental-property mortgages for its beneficiaries—financing primary residences, secondary homes, and income-producing buildings at the rates published on its website. It also holds a portfolio of directly owned properties in the canton, including the Les Petits-Clos residential block in Val-de-Travers and mixed-use buildings on Faubourg du Lac and Rue de l'Orangerie in Neuchâtel. For institutional exposure, CPCN allocates to private markets through buyout funds and fund-of-funds vehicles. No named underlying fund managers or portfolio companies are publicly disclosed. The fund participates in the Ethos Engagement Pool for both Swiss and international listed equities, exerting collective shareholder influence on sustainability and governance issues. Estimated total assets stand at approximately CHF 6.0B–6.5B (Altss estimate) as of 2024. The fund released its annual management report for 2024 through a new interactive digital format, highlighting key figures and financial results. The exact professional headcount is not published. CPCN operates from a single office in La Chaux-de-Fonds, with no additional branches listed. Affiliated public employers—including the cities of Neuchâtel and La Chaux-de-Fonds—send their employees into the scheme, and ECAP Neuchâtel collaborates on risk management and recapitalization measures. Unlike many Swiss public pension funds that fully outsource investment management, CPCN operates a hybrid model: it directly manages a mortgage-lending operation and a portfolio of cantonal real estate while delegating institutional allocations to external buyout managers. This in-house lending function, combined with the cantonal guarantee, creates a dual mechanism for matching long-dated liabilities with both physical assets and third-party private market exposure.

## Sectors

- Real Estate

## Questions

### Who backs CPCN if it becomes underfunded?

The State of Neuchâtel provides an explicit legal guarantee for CPCN's obligations. This means the canton steps in to cover any shortfall in promised benefits—a structural feature that distinguishes guaranteed public pension funds from independent corporate or foundation-run schemes.

### What is CPCN's private-market strategy?

CPCN accesses private markets primarily through buyout fund commitments and fund-of-funds vehicles. The fund does not publicly disclose the names of its underlying general partners or direct portfolio companies. It also engages with portfolio companies on ESG topics through its membership in the Ethos Engagement Pool for both Swiss and international equities.

### How does CPCN handle sustainable investment?

CPCN is a member of the Ethos Foundation and participates in the Ethos Engagement Pool, which conducts collective shareholder dialogue with Swiss and international listed companies on behalf of institutional investors. This is its main mechanism for exercising stewardship and pushing ESG objectives within public-equity holdings.

### Where does the estimated CHF 6B-plus AUM figure come from?

CPCN does not publish a consolidated net-asset figure on its public website. The CHF 6.0B–6.5B range is an Altss estimate based on mosaic data, including the fund's role as the sole pension vehicle for Neuchâtel's public workforce. Size can be triangulated from the number of active insured members and the mandatory funding levels required under Swiss pension law (per Altss estimate).

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

Canonical page: https://altss.com/profile/caisse-de-pension-du-canton-de-neuchatel

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