# Linde Group Pension Plan - Germany

Linde Group Pension Plan - Germany is a Pension Fund based in Munich, Germany.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Munich, Germany
- **Region:** Europe
- **Address:** Munich, Germany
- **Founded:** 1879
- **Assets under management:** Undisclosed
- **Website:** www.linde.com
- **LinkedIn:** https://uk.linkedin.com/company/linde

## Regulatory record

- **Reports private funds:** No

## About

The Linde Group Pension Plan operates within the corporate structure of Linde plc, the Irish-domiciled industrial-gas giant formed by the 2018 merger of Linde AG and Praxair. From Munich, the plan is responsible for defined-benefit commitments to legacy Linde AG employees in Germany, alongside parallel obligations managed through the BOC Pension Scheme for the firm's U.K. workforce. The German vehicle sits under the oversight of Christoph Schlegel, who leads pension investments across the group, navigating a mature liability profile with a focus on capital preservation and steady, inflation-aware returns. The plan pursues a diversifying strategy that reaches beyond conventional fixed income and equities. Confirmed allocations include a global catastrophe reinsurance portfolio, which provides premium income uncorrelated to financial markets, and a real estate debt portfolio concentrated on senior-secured positions in Germany and neighboring European markets. A third sleeve targets senior secured loans globally, placing the fund among a cohort of European pension schemes that have embraced private credit as a yield-enhancement and risk-mitigation tool. Team size and aggregate asset figures remain undisclosed, consistent with the plan's embedded position within Linde's corporate treasury framework. The structural distinction lies in the fund's hybrid asset allocation — combining a traditional defined-benefit risk framework with a dedicated alternatives book that accesses catastrophe risk and private real-asset debt. Few corporate pension plans globally maintain a direct catastrophe reinsurance allocation, positioning the Linde plan as an outlier in portfolio construction philosophy within European industrial-company retirement schemes.

## Sectors

- Real Estate
- Private Credit
- Infrastructure

## People

- Christoph Schlegel — Head of Pension Investments

## Questions

### Who runs investment decisions at Linde Group Pension Plan?

Christoph Schlegel serves as Head of Pension Investments for the Linde Group, overseeing investment strategy and execution across the group's German and U.K. pension vehicles. Schlegel operates from Munich within Linde's corporate treasury function and is the primary contact for external managers and co-investment partners seeking to engage the plan.

### What is the relationship between this plan and the BOC Pension Scheme?

Both are corporate pension plans sponsored by Linde plc but serve distinct legal entities and jurisdictions. The German plan covers liabilities for legacy Linde AG employees, while the BOC Pension Scheme handles defined-benefit obligations for legacy BOC Group employees in the United Kingdom. They operate as sister entities under shared group oversight but maintain separate investment portfolios and governance structures.

### How does Linde's 2018 merger with Praxair affect the German pension plan?

The merger created Linde plc as a new Irish holding company, but legacy defined-benefit obligations for German employees remained ring-fenced within the existing Linde AG pension structure. The plan continues to operate under German pension law (BetrAVG) and BaFin oversight, with its benefit promises insured through the Pensions-Sicherungs-Verein (PSVaG), Germany's mandatory pension-protection scheme. No consolidation with Praxair's U.S. retirement plans occurred.

## Related profiles

- [Linde Group](https://altss.com/profile/linde-group)
- [Linden Thomas Advisory Services](https://altss.com/profile/linden-thomas-advisory-services)

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Last updated: 2026-08-11T02:43:31.692Z

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