# Kirchliche Zusatzversorgungskassen KZVK und VKPB (KZVK)

Kirchliche Zusatzversorgungskassen KZVK und VKPB (KZVK) is a Pension Fund based in Dortmund, Germany.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Dortmund, Germany
- **Region:** Europe
- **Founded:** 1955
- **Assets under management:** 16600 (Altss estimate)
- **Website:** www.kzvk-dortmund.de
- **LinkedIn:** linkedin.com/company/kirchliche-zusatzversorgungskasse

## Regulatory record

- **Reports private funds:** No

## About

The firm originated as a supplementary pension vehicle for church employees in western Germany. Founding bodies include the Evangelical Church of Westphalia and the Evangelical Church in the Rhineland, with additional participation from the Lippische Landeskirche. Direct real-estate ownership covers approximately 3,800 residential units and 130,000 square meters of commercial space in North Rhine-Westphalia. The fund also holds a limited-partner interest in Northern Horizon’s Aged Care Social Infrastructure Fund covering 70 assets across Sweden, Finland and Denmark, plus a European real-estate fund-of-funds managed by Institutional Investment Partners. Separate exposures include a European fiber-optic network and a mobile-tower operator. Public-market holdings comprise a 5.644 billion USD global equity book and a 6.308 billion USD fixed-income portfolio. March 2025: Metz spoke at the Institutional Money Conference on institutional allocation and market volatility. The firm maintains relationships with Lupus alpha and T. Rowe Price for advisory mandates. Governance ties to multiple regional church synods create a mandate centered on long-duration liability matching rather than third-party capital raising.

## Sectors

- Real Estate
- Infrastructure
- Fixed Income
- Equities

## People

- Christoph Metz — Chief Investment Officer
- Axel Rahn — Head of Investments

## Questions

### Who runs investment decisions at KZVK?

Christoph Metz holds the CIO title and Axel Rahn serves as Head of Investments.

### What asset classes does KZVK allocate to?

The fund holds direct real estate in North Rhine-Westphalia, limited-partner stakes in Nordic healthcare infrastructure and European real-estate funds, plus global equities and fixed income.

### Does KZVK invest through funds or direct deals?

Both. Direct ownership covers the NRW residential and commercial portfolios while fund commitments include the Northern Horizon ACSIF and the 2IP European Real Estate Master Fund.

### Which service providers support KZVK’s real-estate program?

Institutional Investment Partners administers the European real-estate dachfonds and Northern Horizon manages the Aged Care Social Infrastructure Fund.

## Related profiles

- [Aquila Capital](https://altss.com/profile/aquila-capital)
- [Fondo Cometa](https://altss.com/profile/fondo-cometa)

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

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