# Pensionskasse Dynamit Nobel

Pensionskasse Dynamit Nobel is a Pension Fund based in Troisdorf, Germany.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Troisdorf, Germany
- **Region:** Europe
- **Address:** Troisdorf, Germany
- **Founded:** 1931
- **Assets under management:** Undisclosed
- **Website:** pk-dn.de

## Regulatory record

- **Reports private funds:** No

## About

The Pensionskasse Dynamit Nobel VVaG was established in Troisdorf, Germany, in 1931 as the pension fund for the explosives and chemicals manufacturer Dynamit Nobel GmbH. Its sponsoring employers now include Orica Germany GmbH and RUAG Ammotec GmbH, while Albemarle Corporation terminated its membership in January 2022. The fund operates under the regulatory framework of a German Pensionskasse and is a member of industry associations aba and VFPK. Investment management is outsourced to Mercer Deutschland GmbH, which administers the fund's total capital investments in Germany. The portfolio includes a directly held residential real estate asset based in Troisdorf. No further details on asset-class mix, fund structures, or co-investment activity are publicly disclosed. The fund does not publish a list of external managers or portfolio companies beyond the real estate holding. Oversight rests with the two-member board of management, Dr. Axel Schoder and Michael Gierke. In January 2022, Albemarle Corporation ended its participation as an employer, altering the contribution base. No adjacent philanthropic structures, club memberships, or other operating vehicles are reported. The fund dedicates its legal structure exclusively to providing pension insurance plans to members and their survivors. Its structural distinction lies in the ongoing relationship with the industrial successors of the original sponsoring firm, including Orica Germany and RUAG Ammotec, linking its capital pool to specific corporate sponsors rather than a broad public mandate.

## Sectors

- Real Estate

## People

- Dr. Axel Schoder — Member of the Board of Management (Vorstand)
- Michael Gierke — Member of the Board of Management (Vorstand)

## Questions

### Who runs investment decisions at Pensionskasse Dynamit Nobel?

Investment management is outsourced to Mercer Deutschland GmbH. The board of management, comprised of Dr. Axel Schoder and Michael Gierke, oversees the fund. No in-house investment team is disclosed.

### Which employers currently sponsor the Pensionskasse Dynamit Nobel?

Orica Germany GmbH and RUAG Ammotec GmbH are sponsoring employers. Albemarle Corporation was formerly a participating employer but terminated its membership on January 1, 2022.

### Does the fund directly hold real estate?

Yes, the fund holds a directly held residential real estate portfolio in Troisdorf, Germany. It also maintains broader capital investments, though no further segmentation is publicly disclosed.

### Where does the underlying capital come from?

The capital originates from contributions tied to the pension obligations of Dynamit Nobel's industrial successors, managed as a closed Pensionskasse for those corporate sponsors and their employees.

### What is Pensionskasse Dynamit Nobel's relationship with Mercer?

Mercer Deutschland GmbH provides administrative services for the fund. Specifics of the advisory or discretionary mandate are not publicly detailed.

## Related profiles

- [Pensionskasse Deutscher Eisenbahnen und Straßenbahnen](https://altss.com/profile/pensionskasse-deutscher-eisenbahnen-und-stra-enbahnen)
- [Pensionskasse Freelance](https://altss.com/profile/pensionskasse-freelance)

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

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