# Wittelsbacher Ausgleichsfonds

Wittelsbacher Ausgleichsfonds is an Endowment / Foundation based in Munich, Germany.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Munich, Germany
- **Region:** Europe
- **Address:** Schumannstraße 10, 81679 Munich, Germany
- **Founded:** 1923
- **Assets under management:** Undisclosed
- **Website:** www.waf-bayern.de
- **LinkedIn:** https://www.linkedin.com/company/wittelsbacher-ausgleichsfonds

## Regulatory record

- **Reports private funds:** No

## About

The Wittelsbacher Ausgleichsfonds was established in 1923 through an agreement between the House of Wittelsbach and the Bavarian state. Franz, Duke of Bavaria serves as current head of the house and primary beneficiary. The foundation maintains direct ownership of multiple properties and collections rather than pursuing typical institutional allocations. Core holdings include Schloss Hohenschwangau, Schloss Berchtesgaden, Schloss Grünau and Schloss Sandersdorf. Wittelsbach Forestry Holdings cover approximately 12,500 hectares of timberland in Bavaria. The foundation also manages a Munich real estate portfolio and the Wittelsbach Art Collection, which includes works by Rubens, Dürer and Titian on permanent loan to state museums. A liquid portfolio supports ongoing operations. The entity belongs to the Bundesverband Deutscher Stiftungen. The Wittelsbacher Landesstiftung für Kunst und Wissenschaft operates as a subsidiary focused on art and science preservation. Michael Kuemmerle and Peter von Miller serve as the named board and management leaders. No recent operational events from the last 24 months appear in available records. The foundation's architecture ties asset management directly to the surviving royal house through a statutory public-law framework. This creates a hybrid public-private mandate that limits typical family-office flexibility in capital deployment.

## Sectors

- Real Estate
- Travel & Leisure

## People

- Michael Kuemmerle — Chairman of the Board (Vorsitzender des Verwaltungsrats)
- Peter von Miller — Managing Director (Geschäftsführer)

## Questions

### Who runs investment decisions at Wittelsbacher Ausgleichsfonds?

Michael Kuemmerle serves as Chairman of the Board and Peter von Miller as Managing Director. Decisions focus on direct management of real assets and the liquid portfolio.

### How is Wittelsbacher Ausgleichsfonds related to the House of Wittelsbach?

The foundation was created from transferred royal assets to provide economic support for family members while preserving holdings for public use. Franz, Duke of Bavaria is the current head of the house.

### Does Wittelsbacher Ausgleichsfonds participate in fund commitments or only direct deals?

Available records show only direct ownership of properties, forests and art. No external fund commitments are documented.

### What asset classes does Wittelsbacher Ausgleichsfonds hold?

Holdings include historic castles, timberland, Munich real estate, art collections and a liquid portfolio of equities and fixed income.

## Related profiles

- [Consolidated Retirement Plan](https://altss.com/profile/consolidated-retirement-plan)
- [Groton School Endowment](https://altss.com/profile/groton-school-endowment)

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

Canonical page: https://altss.com/profile/wittelsbacher-ausgleichsfonds

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