# Versorgungswerk der Apothekerkammer Nordrhein

Versorgungswerk der Apothekerkammer Nordrhein is a Pension Fund based in Düsseldorf, Germany.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Düsseldorf, Germany
- **Region:** Europe
- **Address:** Düsseldorf, North Rhine-Westphalia, Germany
- **Founded:** 1979
- **Assets under management:** $2.5B–$5.0B (Altss estimate)
- **Website:** www.vanr.de
- **LinkedIn:** https://de.linkedin.com/company/versorgungswerk-der-apothekerkammer-nordrhein-kd%C3%B6r

## Regulatory record

- **Reports private funds:** No

## About

Founded in 1979, Versorgungswerk der Apothekerkammer Nordrhein is the mandatory pension institution for all pharmacists in North Rhine-Westphalia, both self-employed and employed. The fund operates as a legally independent entity from its founding parent, the Apothekerkammer Nordrhein, under the leadership of Hauptgeschäftsführer Jens Hennes and Vorstandsvorsitzende Dr. Claudia Vogt. Beate Sicking became a second Geschäftsführerin in January 2025. The portfolio is structured around four distinct asset classes: direct residential real estate concentrated in Germany, particularly in and around North Rhine-Westphalia; a global infrastructure portfolio that includes participation in a European offshore wind park and a German solar installation; a global private debt allocation; and mixed-use properties across Germany and Europe via the aik Immobilien-Investmentgesellschaft vehicle. The fund's real asset tilt is visible in projects like the large-scale Hannover-Kronsrode residential complex. It participates in the Ständige Konferenz der Versorgungswerke der Apotheker, a network of sister pharmacist pension institutions. January 2025 saw Beate Sicking, previously a general attorney-in-fact, promoted to a dual leadership structure alongside Hennes. This governance expansion coincides with the fund's longstanding operational agreement managing both assets and administration for the Versorgungswerk der Tierärztekammer Nordrhein — the parallel institution for the region's veterinarians — effectively pooling execution costs across two independent professional pension schemes. What differentiates VANR from a conventional single-profession pension fund is its operational hedge: by administering the veterinary pension scheme's capital alongside its own, it achieves scale in back-office infrastructure without merging fiduciary liability. This joint management arrangement with VTNR mimics a scaled multi-employer setup without a legal merger, preserving the distinct identity each professional chamber requires.

## Sectors

- Real Estate
- Infrastructure
- Private Credit
- Energy Transition & Renewables

## People

- Jens Hennes — Hauptgeschäftsführer
- Beate Sicking — Geschäftsführerin
- Dr. Claudia Vogt — Vorsitzende des Vorstandes

## Questions

### Who runs investment decisions at the Versorgungswerk der Apothekerkammer Nordrhein?

Hauptgeschäftsführer Jens Hennes has led capital markets and investment strategy. In January 2025, Beate Sicking joined him as a second managing director. The Vorstand, chaired by Dr. Claudia Vogt, sets strategic direction. Day-to-day execution sits with Hennes and Sicking.

### How is the fund related to the Versorgungswerk der Tierärztekammer Nordrhein?

The two institutions are legally independent but operationally intertwined. VANR manages capital and administration for the veterinary pension fund under a joint management agreement, effectively pooling back-office and investment execution resources across both professional groups.

### Does the fund invest primarily in Germany or globally?

The residential real estate book is heavily concentrated in Germany, especially North Rhine-Westphalia, with projects like Hannover-Kronsrode. Infrastructure and private debt allocations are global, with disclosed European wind and solar assets alongside a broader international private credit portfolio.

### What does the real estate portfolio consist of?

Two distinct direct real estate sleeves: a residential rental portfolio focused on core-plus and development in North Rhine-Westphalia, and a European mixed-use portfolio accessed through the aik Immobilien-Investmentgesellschaft co-investment vehicle. Both are held directly, not through external fund structures.

## Related profiles

- [City of Tampa Fire & Police Pension](https://altss.com/profile/city-of-tampa)
- [University of Illinois Foundation](https://altss.com/profile/university-of-illinois-foundation-uif)

---

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

Canonical page: https://altss.com/profile/versorgungswerk-der-apothekerkammer-nordrhein

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology