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Versorgungswerk der Wirtschaftsprüfer und der vereidigten Buchprüfer im Lande Nordrhein-Westfalen (WPV)
Versorgungswerk der Wirtschaftsprüfer und der vereidigten Buchprüfer im Lande Nordrhein-Westfalen (WPV) is the multi-employer pension fund for certified public...
Versorgungswerk der Wirtschaftsprüfer und der vereidigten Buchprüfer im Lande Nordrhein-Westfalen (WPV)
Versorgungswerk der Wirtschaftsprüfer und der vereidigten Buchprüfer im Lande Nordrhein-Westfalen (WPV) is the multi-employer pension fund for certified public accountants and sworn auditors in Germany's most populous state. The Düsseldorf-based institution operates under the leadership of Managing Directors Sascha Pinger, who also chairs WPV Advisory & Asset Management, and Silke Wolf, whose mandate spans risk controlling and insurance operations. While the founding year is not publicly documented, the fund's architecture reflects the German professions' tradition of self-administered, compulsory retirement schemes. WPV's investment strategy centers on direct ownership of tangible assets rather than intermediary-dependent fund-of-funds structures. The real estate portfolio includes the KöTower, a commercial property on Düsseldorf's prestigious Königsallee, as well as the fund's own headquarters at Lindenstraße 87. Beyond its home market, WPV holds a mixed-use residential and food-anchored retail portfolio in the Netherlands. The fund also commits to renewable energy infrastructure on a global basis, a posture overseen by Christian Chrobok, WPV's Head of Strategic Asset Allocation. WPV has layered an advisory capability directly onto the pension fund by creating WPV Advisory & Asset Management — a vehicle chaired by Sascha Pinger and managed by Dr. Hans Wilhelm Korfmacher, the fund's founder and former long-time Managing Director. The team embeds the fund within European institutional investor networks, including membership in INREV, the European Association for Investors in Non-Listed Real Estate Vehicles. Dr. Korfmacher also serves as Chairman of the Board of the Club of Finance, while Christian Chrobok is a founding member and treasurer of Pensions-Akademie e.V. WPV's structural distinction lies in running a direct proprietary portfolio alongside an in-house asset management company for a captive, profession-specific member base. Unlike large diversified German pension pools that outsource the majority of investment discretion, WPV retains strategic asset allocation internally and transacts directly in European commercial and residential property — a level of hands-on control unusual for a scheme of its defined constituency size.
General information
Firm type
Pension Fund
Location
Region
Europe
Country
Germany
City
Düsseldorf
Corporate office
Düsseldorf, Germany
Principals
Sascha Pinger
Managing Director
Silke Wolf
Managing Director
Dr. Hans Wilhelm Korfmacher
Former Managing Director
Christian Chrobok
Head of Strategic Asset Allocation
Sector focus
Frequently asked questions
Who runs investment decisions at WPV?
Christian Chrobok leads strategic asset allocation and direct investments as Head of Strategic Asset Allocation. He operates under Managing Director Sascha Pinger, who also chairs WPV Advisory & Asset Management — a signal that portfolio oversight and advisory execution sit in the same unit. Silke Wolf handles risk control, separating the risk function from the deployment team.
Is WPV structured as a classic pension fund or does it operate more like an asset manager?
WPV is a statutory multi-employer pension fund, but it runs an unusual hybrid model. The fund directly owns real property and infrastructure, and it has placed leadership of WPV Advisory & Asset Management under the Managing Director. This blurs the line between a passive owner and an active manager — most German Versorgungswerke of comparable scope delegate asset management to external firms.
Does WPV co-invest alongside external managers or invest only directly?
WPV leans toward direct ownership, demonstrated by its recorded sole holdings: KöTower, its own Düsseldorf headquarters, and a Dutch residential and retail portfolio. However, its membership in INREV — the institutional real estate investor association — and Dr. Korfmacher's chairmanship of the Club of Finance suggest the fund remains networked for potential co-investment activity, particularly in private real estate vehicles.
What does WPV actually own in real estate?
The fund's disclosed real estate includes KöTower, a commercial property on Düsseldorf's Königsallee (one of Germany's premier high-street addresses), and the WPV headquarters at Lindenstraße 87. Internationally, it holds a mixed-use residential and food-anchored retail portfolio in the Netherlands. This suggests a durable-income bias tilted toward German core and neighboring-market operational real estate.
How is WPV connected to the broader German institutional investor community?
WPV embeds itself via three specific networks: INREV membership for non-listed real estate investors, Dr. Korfmacher's chairmanship of the Club of Finance, and Christian Chrobok's founding role at Pensions-Akademie e.V. — a professional body for German pension fund practitioners. These memberships position WPV inside the country's real asset and pension-industry dialogue rather than at its periphery.
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