Multi-Family Office

Updated:

Münster Stegmaier Rombach Family Office

Johannes Stegmaier and Count zu Münster founded MSR, a multi-family office advising 50 German families.

Münster Stegmaier Rombach Family Office

Münster Stegmaier Rombach emerged in 2001 from the partnership between a noble family and an entrepreneur, establishing a multi-family office that now serves around 50 families. Co-founder Johannes Stegmaier built the firm alongside Count Hermann-Siegfried zu Münster-Meinhövel, who belonged to one of Germany's old aristocratic houses. The firm has remained anchored in Upper Swabia — headquartered in Bad Waldsee — while expanding advisory oversight through offices in Munich, Stuttgart, and Hamburg. MSR structures capital across private equity, real estate, hedge funds, infrastructure, and philanthropic vehicles, blending fund commitments with direct co-investments and special purpose vehicles. It favors control-oriented and buyout strategies, with a geographic focus on Europe. The firm played a central role representing the Hymer family — the founders of Erwin Hymer Group, one of Europe's largest recreational vehicle manufacturers — during the sale of the company. Its technology exposure skews toward cybersecurity, and it maintains advisory relationships with portfolio companies like Heidelberg-based medical device developer Precisis GmbH, where Head of Alternative Investments Thorben Katzer sits on the board. Managing Partner Wolfgang Rombach joined in 2003 and anchors the investment operations, while CEO Werner Gasser and CIO Stephan Jäggle manage corporate strategy and asset allocation. Vanessa Matheis was elevated to the management board in 2021, overseeing consulting and asset controlling, and maintains ties to Matheis Invest GmbH. The firm is a founding board member of VuFO, the German Association of Independent Family Offices. In May 2024, MSR expanded its authorized signatory roster with two additional Prokurist appointments among at least 11 professionals holding that legal authority. MSR's integration of noble and entrepreneurial client families under one roof is a structural rarity in Central Europe, where family offices typically stay rigorously separate by bloodline. That hybrid model creates a diversified sourcing network — blending old-money governance with industrial-family dynamism — which feeds a deal pipeline unusual for a firm of its size. The firm's non-profit activities, managed through MSR Social Impact gGmbH and the Erwin Hymer Stiftung, operate alongside the main office without blurring fiduciary lines.

General information

Firm type

Multi Family Office

Year founded

2001

AUM

Undisclosed

Location

Region

Europe

Country

Germany

City

Bad Waldsee

Corporate office

Bad Waldsee, Baden-Württemberg, Germany

Additional offices

Munich · Stuttgart · Hamburg

Principals

Werner Gasser

CEO, Managing Partner

Stephan Jäggle

CIO, Managing Partner

Johannes Stegmaier

Founder, Managing Partner

Wolfgang Rombach

Managing Partner

Vanessa Matheis

Managing Partner

Sector focus

Digital HealthHealthcare ServicesClimateTechEnergy Transition & Renewables

Frequently asked questions

Who runs investment decisions at Münster Stegmaier Rombach?

Stephan Jäggle serves as Chief Investment Officer and Managing Partner, responsible for strategic asset allocation. He operates within a management board that includes CEO Werner Gasser, founder Johannes Stegmaier, Wolfgang Rombach, and Vanessa Matheis. The group sets investment policy collectively, with individual transaction authority likely subject to the multi-signatory structure reflected in the firm's eleven registered Prokurists.

How does MSR source its investment opportunities?

MSR's sourcing combines the personal networks of its founding families, its role on advisory boards such as Precisis GmbH's, and its position as a founding board member of VuFO, the association of independent family offices in Germany. The firm's dual noble-entrepreneur origin gives it access to industrial-family deal flow — most notably the Hymer family during the sale of Erwin Hymer Group — that a pure financial sponsor would struggle to replicate.

Is MSR a single family office or a multi-family office?

MSR is a multi-family office, advising roughly 50 high-net-worth families. Unlike a single-family office that manages one family's wealth, MSR pools advisory and investment resources across multiple clients. This structure gives it a broader capital base and a wider deal-sourcing network than a pure single-family office.

Does MSR commit to external funds or only make direct investments?

MSR uses a hybrid model: it makes direct co-investments and uses special purpose vehicles alongside commitments to private equity funds, hedge funds, and real estate vehicles. The firm targets buyout and co-investment opportunities, favouring control-oriented private equity but maintaining a diversified asset-allocation approach across asset classes.

Which sectors does MSR explicitly focus on or avoid?

Confirmed portfolio exposure includes digital health and healthcare services, shown by Thorben Katzer's board seat at Precisis GmbH, a medical device firm. MSR also lists climate technology and energy transition as focus areas. There is no public statement naming sectors the firm avoids, though its historic ties to the industrial and recreational-vehicle sectors through the Hymer family suggest comfort with manufacturing-adjacent investments.

Where does the underlying client wealth come from?

The founding wealth is a blend of old European nobility — Count Hermann-Siegfried zu Münster-Meinhövel — and entrepreneurial capital from co-founder Johannes Stegmaier. MSR's client base includes the Hymer family, whose fortune originated from Erwin Hymer Group, the recreational-vehicle manufacturer. The firm's roughly 50 families are primarily German, with industrial and inherited wealth.

How is MSR's philanthropic work structured and separated from the main office?

Philanthropic activities run through separate charitable vehicles, including MSR Social Impact gGmbH, the Erwin Hymer Stiftung, and the Paula Kubitscheck-Vogel-Stiftung. The firm also supports Zeppelin University, ProKA Oberschwaben, and the SEENEMA cinema cooperative in Bad Waldsee. These entities are legally distinct from the advisory and investment operations, preserving fiduciary separation.

What is MSR's posture on co-investments alongside external partners?

MSR actively participates in direct co-investments and special purpose vehicles, often alongside corporate families or aligned GPs. Its representation of the Hymer family in the sale of Erwin Hymer Group demonstrates the firm's capability to lead complex transactions. The firm's network within VuFO and the Lerbach Competence Circle further expands its co-investor universe.

Profile maintained by using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.

Need institutional-grade insight on family offices?

Altss delivers:

Principals with verified direct contactsAllocation history by asset classOSINT-derived deal signals
Book a demo

Prefer a guided tour?

We’ll walk you through:

Interactive funding timelinesCustom mandate & allocation filters
Book a demo