Updated:
W&W Group
W&W Group was created in 1999 when Wüstenrot, the century-old building society, merged with Württembergische, a regional insurer dating to 1828.
W&W Group
W&W Group was created in 1999 when Wüstenrot, the century-old building society, merged with Württembergische, a regional insurer dating to 1828. The combined entity remains anchored by Wüstenrot Stiftung, the founding foundation that shapes the group's long-horizon posture. Jürgen A. Junker chairs the executive board, and Matthias Bogk assumes the CFO role in July 2025. The group deploys capital across four primary streams: direct commercial real estate through subsidiaries like Wüstenrot Haus- und Städtebau, a dedicated renewable-energy portfolio of German industrial assets, a green and sustainable bond book with global reach, and late-stage venture capital commitments. The real-estate holdings are concentrated in German mixed-use and commercial properties. The venture program targets late-stage rounds, a deployment pattern that favors capital efficiency over early-stage portfolio breadth. Confirmed practices include direct co-investment structures rather than blind-pool fund commitments. The group has been a UN PRI signatory since May 2020 and a Principles for Sustainable Insurance signatory since 2021, embedding ESG screens across asset allocation. Total assets under management are not publicly disclosed. The group operates primarily from Stuttgart and maintains no known international offices. Its investment team size is not reported. In July 2025, Matthias Bogk will succeed the outgoing CFO, a transition that signals generational change at the top of the finance function. The Wüstenrot Stiftung remains the primary shareholder, creating an unusual governance dynamic where a philanthropic foundation exerts meaningful influence over a publicly listed insurer's capital-allocation priorities. Structurally, W&W Group functions as an insurer with an in-house asset-management arm rather than a pure family office or third-party manager. The foundation-shareholder model means the investment portfolio must reconcile long-duration insurance liabilities with the foundation's perpetual mandate — a tension that produces a multi-decade holding period for real assets and a preference for income-producing infrastructure over opportunistic trading gains.
General information
Firm type
Insurance
Year founded
1999
AUM
Undisclosed
Location
Region
Europe
Country
Germany
City
Stuttgart
Corporate office
Stuttgart, Germany
Principals
Jürgen A. Junker
Chairman of the Executive Board (CEO)
Matthias Bogk
Chief Financial Officer (CFO), effective July 2025
Sector focus
Frequently asked questions
Who runs investment decisions at W&W Group?
The executive board, chaired by CEO Jürgen A. Junker, oversees asset allocation. Day-to-day portfolio management is handled by the group's internal asset-management function. The incoming CFO Matthias Bogk, effective July 2025, will take responsibility for the finance and treasury operations that underpin investment execution.
How does W&W Group's structure influence its investment posture?
Wüstenrot Stiftung, the founding foundation, serves as the primary shareholder. This creates a perpetual-capital orientation unusual for a publicly listed insurer. The foundation's long-horizon mandate aligns the portfolio toward multi-decade holds on real assets and infrastructure, distinguishing W&W from insurers that prioritize quarterly liquidity.
Does W&W Group make direct investments or fund commitments?
The group favors direct ownership. Its real-estate holdings are held through subsidiaries such as Wüstenrot Haus- und Städtebau. Its venture-capital activity targets direct late-stage co-investments. Green and sustainable bond positions are managed directly. Fund-of-funds structures are not a disclosed part of the strategy.
Which sectors does W&W Group target in its venture portfolio?
Late-stage venture capital is a stated allocation, though specific portfolio companies are not publicly disclosed. The group's overall asset mix prioritizes real estate, renewable energy, and sustainable fixed income. The venture sleeve appears designed for capital-appreciation upside within a predominantly income-oriented portfolio.
What is W&W Group's ESG integration approach?
The group has been a UN Principles for Responsible Investment signatory since May 2020 and a Principles for Sustainable Insurance signatory since 2021. It maintains a dedicated green and sustainable bond portfolio and a renewable-energy portfolio of German industrial assets. ESG criteria are embedded across asset allocation rather than siloed in a standalone impact fund.
How is Wüstenrot Stiftung related to W&W Group?
Wüstenrot Stiftung is the foundational entity and primary shareholder of the W&W Group, tracing its origins to the original Wüstenrot building society. The foundation's perpetual mandate shapes the group's investment horizon and governance. Its philanthropic activities are structurally separate from the insurance and banking operations.
What is W&W Group's geographic footprint?
The group is headquartered in Stuttgart, Germany, and its investment portfolio is concentrated domestically. Real-estate holdings are German commercial and mixed-use properties. The renewable-energy portfolio is also Germany-focused. The bond portfolio holds global green and sustainable bonds, providing the primary source of geographic diversification.
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.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: