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VBV-Vorsorgekasse AG
VBV-Vorsorgekasse AG was established in 1990 and functions as Austria's largest provider of occupational pensions and severance pay. Andreas Zakostelsky serves...
VBV-Vorsorgekasse AG
VBV-Vorsorgekasse AG was established in 1990 and functions as Austria's largest provider of occupational pensions and severance pay. Andreas Zakostelsky serves as CEO of both the Vorsorgekasse and the broader VBV Group. The entity is owned by a consortium of Austrian banks and insurers that includes Erste Group Bank AG, Wiener Städtische Versicherung AG and UniCredit Bank Austria AG. The investment program spans global equities with a small-cap bias, European government and corporate bonds, direct Austrian real estate holdings valued at 440 million USD, European real estate fund commitments, infrastructure equity valued at 560-660 million USD, and a private debt book that has grown since 2016 to between 1.125 billion and 1.32 billion USD. Confirmed holdings include the Austrian Property Portfolio, European Real Estate Portfolio and Infrastructure Equity Portfolio. Geographic exposure centers on Austria and broader Europe, with additional commitments in global private debt and sustainable commodities. Assets under management stand at 9.3 billion USD. The firm maintains wholly owned operating subsidiaries including VBV-Pensionskasse AG, VBV Asset Service and VBV-Consult. It holds a 90 percent stake in Betriebliche Altersvorsorge SoftWare Engineering. In March 2025 the firm spoke at the Sustainable Investor Summit in Vienna on sustainable and transition finance. VBV-Vorsorgekasse AG is a founding member of the Green Finance Alliance and a signatory of the UN PRI, UN Global Compact and Finance for Biodiversity Pledge. It integrates Paris-aligned indices and exclusion criteria across all asset classes while maintaining a 7-8 year investment horizon for private-market vehicles.
General information
Firm type
Pension Fund
Year founded
1990
Location
Region
Europe
Country
Austria
City
Vienna
Corporate office
Obere Donaustraße 49-53, 1020 Wien, Austria
Principals
Andreas Zakostelsky
CEO
Michaela Attermeyer
Board Member responsible for investments
Sector focus
Frequently asked questions
Who runs investment decisions at VBV-Vorsorgekasse AG?
Andreas Zakostelsky serves as CEO. Michaela Attermeyer sits on the board with responsibility for investments.
Does VBV-Vorsorgekasse AG participate in fund commitments or only direct deals?
The firm makes both direct holdings and fund commitments. It maintains direct Austrian real estate positions and commits to European real estate and infrastructure funds.
What asset classes does VBV-Vorsorgekasse AG allocate to?
Allocations include global equities, fixed income, Austrian and European real estate, infrastructure equity and private debt. Private debt has represented 10-20 percent of assets in recent periods.
Which regions does VBV-Vorsorgekasse AG invest in?
Core exposure is in Austria and Europe. The firm also holds global private debt and equity positions.
How is VBV-Vorsorgekasse AG structured relative to the VBV Group?
It operates as a subsidiary of VBV-Betriebliche Altersvorsorge AG, which is the group holding company owned by Erste Group Bank AG and other Austrian financial institutions.
What ESG commitments has VBV-Vorsorgekasse AG made?
The firm is a founding member of the Green Finance Alliance and a signatory of the UN PRI, UN Global Compact and Finance for Biodiversity Pledge. It applies Paris-aligned indices and exclusion criteria across asset classes.
Does VBV-Vorsorgekasse AG use an illiquidity premium?
Yes. Younger plan members receive an illiquidity premium through private debt and infrastructure funds with typical lifetimes of 7-8 years.
Profile maintained by Altss 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.
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