# Pensionskasse Bühler AG Uzwil (PKB)

Pensionskasse Bühler AG Uzwil (PKB) is a Pension Fund based in Uzwil, Switzerland.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Uzwil, Switzerland
- **Region:** Europe
- **Address:** Uzwil, St. Gallen, Switzerland
- **Founded:** 1925
- **Assets under management:** Undisclosed
- **Website:** pkb-uzwil.ch
- **LinkedIn:** https://linkedin.com/company/pensionskasse-bühler-ag-uzwil

## Regulatory record

- **Reports private funds:** No

## About

Pensionskasse Bühler AG Uzwil operates as the captive corporate pension vehicle for Bühler Group, the privately held industrial technology company headquartered in Uzwil, St. Gallen. The fund is overseen by a Board of Trustees led by Christof Oswald, with Patrik Affentranger managing day-to-day pension operations and chairing the investment committee. Bühler Group's own CEO Stefan Scheiber and CFO Mark Macus sit on the board, linking the fund's governance directly to the sponsor's C-suite — a structure that keeps investment strategy tightly aligned with the corporation's conservative Swiss balance-sheet culture. PKB's portfolio reflects a pension fund built for capital preservation with income generation. Direct Swiss real estate — office, residential, and mixed-use — forms a core allocation alongside a domestic mortgage book. The fund also participates in ASSETIMMO Immobilien-Anlagestiftung, a Swiss real estate investment foundation that pools capital from multiple pension schemes for diversified property exposure. Beyond Switzerland, PKB maintains a global foreign real estate portfolio that is fully currency-hedged, and an international infrastructure sleeve. There is no public evidence of venture capital, private equity fund commitments, or direct equity co-investments — the fund's observable posture is real assets plus fixed income. PKB is a member of the Ethos Engagement Pool, a Swiss institutional investor network that coordinates corporate governance engagement, and has been since 2009. It is also a signatory of Climate Action 100+ and a member of the Institutional Investors Group on Climate Change, placing it inside the European institutional mainstream on climate stewardship without any publicly visible impact-investing carve-outs. Structurally, PKB differs from most European pension funds in its direct engagement with a single corporate sponsor's boardroom. The presence of Bühler Group executives on the Board of Trustees — not as observers but as voting members — gives the fund a governance model closer to a company treasury function than to an arms-length institutional asset owner.

## Sectors

- Real Estate
- Infrastructure
- Private Credit

## People

- Christof Oswald — President of the Board of Trustees
- Patrik Affentranger — Head of Pension Funds (Leiter Pensionskassen)
- Stefan Scheiber — Board Member and CEO of Bühler Group
- Mark Macus — Board Member and CFO of Bühler Group

## Questions

### Who runs investment decisions at PKB?

The investment committee is chaired by Patrik Affentranger, who also serves as Head of Pension Funds. The Board of Trustees, led by President Christof Oswald, holds ultimate fiduciary authority. Bühler Group CEO Stefan Scheiber and CFO Mark Macus sit on the board, giving the corporate sponsor direct representation in asset allocation decisions.

### How is PKB related to Bühler Group?

PKB is the captive corporate pension fund for Bühler Group employees. It is legally separate but governed by a Board of Trustees that includes Bühler's CEO and CFO, keeping investment policy closely aligned with the industrial sponsor's financial posture.

### Does PKB invest directly in real estate?

Yes. Direct Swiss real estate and a domestic mortgage portfolio form core allocations. The fund also participates in ASSETIMMO Immobilien-Anlagestiftung, a pooled Swiss property investment foundation. Its foreign real estate exposure is fully currency-hedged.

### What is PKB's posture on climate and ESG?

PKB is a signatory of Climate Action 100+ and a member of the IIGCC, committing it to corporate climate engagement. It has also been a member of the Ethos Engagement Pool since 2009, participating in coordinated Swiss institutional investor stewardship.

### What is PKB's pension plan structure?

PKB operates a hybrid defined-benefit and defined-contribution arrangement, structured as a cash-balance plan. This model blends DB-style guarantees with DC-style individual accounts, common among mid-tier Swiss corporate pension funds.

### Is PKB open to co-investments alongside external managers?

Publicly available information does not indicate any co-investment program. PKB's observable investment posture is direct real asset ownership and pooled fund participation through Swiss investment foundations, not GP-style co-investments.

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

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