Patrizia SE

Fuggerstrasse 26, 86150 Augsburg, Germany

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About Patrizia SE

Summary

Patrizia SE is a German investment management company specialising in real estate and infrastructure across Europe and beyond. Headquartered in Augsburg, Germany, it is listed on the Frankfurt Stock Exchange and is part of the SDAX and MSCI World Small Cap Index. Patrizia provides investment opportunities for institutional, semi-professional, and private investors. By 2016 it managed over €55 billion in assets, primarily for insurance companies, pension funds, sovereign funds, and banks, and now reports assets under management exceeding €56 billion. The company employs over 1,000 professionals in more than 26 markets worldwide.

Founded in 1984 by Wolfgang Egger, Patrizia began as a residential real estate investor in Munich and Augsburg, initially privatising apartments and helping tenants become homeowners. It expanded after its 2006 IPO, acquiring large residential portfolios and launching special funds for institutional investors. Significant acquisitions include LBBW Immobilien in 2012 and GBW AG in 2013. International growth followed with the purchase of the British Tamar Group and later integrations of Rockspring, Triuva, and Sparinvest in 2018.

Patrizia has strengthened its technology and infrastructure capabilities through strategic stakes in AI and proptech firms such as Evana, Control.IT, and Cognotekt, and partnerships with Pi Labs, Taronga Ventures, and Camber Creek. It acquired Japan-based Kenzo Capital in 2019 and infrastructure manager Whitehelm Capital in 2021, increasing infrastructure assets to about €5 billion. In 2022, it adopted a Societas Europaea (SE) structure and expanded in Asia with a regional hub in Singapore.

The company emphasises sustainability, aiming for net zero carbon operations and portfolio by 2040. The PATRIZIA Foundation, created in 1999, supports global education projects and has reached over 750,000 children. Founder Wolfgang Egger remains CEO and majority shareholder through First Capital Partner, maintaining more than 51 percent of voting rights.

History

Patrizia SE, founded in 1984 by Wolfgang Egger in Augsburg, Germany, began as a real estate investment company with a focus on residential properties. Wolfgang Egger’s first experience in the real estate sector began with a summer job on a construction site during his teenage years. At the age of 19, he built and sold his first house, using the proceeds to purchase the company’s first apartments. Within three years of its establishment, Patrizia was privatising 100 apartments per year, focusing on properties in Munich and Augsburg. The company’s strategy was centred around acquiring apartments in areas such as Munich’s Olympia-Pressestadt and residential complexes in Augsburg, Obergiesing, Perlach, and Schwabing, later selling them primarily to tenant occupants, with the goal of helping tenants become homeowners.

In 2006, Patrizia became a publicly listed company on the Frankfurt Stock Exchange, joining the SDAX index, marking a significant milestone in its growth. Following the IPO, the company expanded its portfolio by acquiring residential real estate in major German cities, eventually managing over 13,000 apartments. During this period, Patrizia diversified its services by launching Spezialfonds (special funds) for institutional investors.

The company’s expansion continued with the acquisition of Hamburger LB Immo Invest GmbH in 2011, an initiator of commercial real estate Spezialfonds. This was followed by the acquisition of LBBW Immobilien GmbH (later SÜDEWO) in 2012, which added around 21,500 apartments to the portfolio for €1.435 billion. A co-investment consortium led by Patrizia, including pension funds, insurance companies, and savings banks, also acquired 92% of the shares in GBW AG (later Dawonia) in 2013, adding approximately 32,000 apartments in Bavaria to the company’s holdings for €2.45 billion.

In 2017, Patrizia made its first investment in high-growth tech companies, and in 2018, it further expanded by integrating Rockspring Property Managers LLP, Triuva Kapitalverwaltungsgesellschaft mbH, and Sparinvest under a common brand. As part of its international growth, the company acquired a strategic stake in Evana, an artificial intelligence business, with the aim of becoming a leader in technology within the European real estate investment sector.

In 2019, Patrizia acquired Japan-based Kenzo Capital Corporation, which enabled the company to offer European clients access to Japanese residential real estate through a dedicated fund. The same year, Patrizia took a 10% equity interest in Control.IT, a company that produces asset and portfolio management software, and a strategic stake in the Cologne-based AI platform, Cognotekt, to enhance its data management processes.

Patrizia’s focus on international growth continued with the opening of a regional hub in Singapore and the acquisition of Whitehelm Capital, an international infrastructure manager, in 2021, which increased the company’s infrastructure assets under management to approximately €5 billion. In 2022, Patrizia transitioned to a Societas Europaea (SE) legal structure and expanded its board of directors to support its growth ambitions.

The company has also made significant investments in sustainability, with plans to achieve net zero carbon operations and portfolio by 2040. Through the PATRIZIA Foundation, established in 1999, the company has provided access to education for over 750,000 children worldwide.

Portfolio

As of 31 December 2024, Patrizia SE manages assets exceeding €56 billion across real estate and infrastructure investments, serving institutional, semi-professional, and private investors globally. The company operates in over 26 locations worldwide, employing approximately 900 professionals.

Patrizia’s real estate investments cover various sectors, with the largest share allocated to residential properties, making up 27% of the total portfolio. The office sector follows closely with a 26% share, while logistics and industrial properties account for 12%. Retail properties make up 9% of the portfolio, with hotel and healthcare sectors each contributing 4%. Other real estate investments, which include various specialised sectors, comprise 18% of the total portfolio. The company’s strategy is to invest in core and core-plus assets, which are stable, income-generating properties with low risk, although it also includes value-add and opportunistic investments aimed at enhancing returns.

Patrizia’s real estate portfolio includes high-quality residential developments in key European cities, office buildings in prime locations, logistics centres, and retail properties. The company’s investments span multiple real estate sectors, with a focus on maintaining a diversified portfolio across major markets to manage risk while generating steady income.

Patrizia’s infrastructure division manages over €10 billion across more than 130 direct infrastructure debt and equity investments. The portfolio covers a range of sectors, including sea ports, toll roads, renewable energy, and smart cities. Notable infrastructure investments include the Brisbane Airport in Australia, the Oaklands Hill Windfarm in Victoria, and the Connexin smart city platform in the United Kingdom. The infrastructure portfolio aims to deliver long-term, stable returns while supporting sustainable development.

Patrizia offers several investment strategies to cater to different risk profiles and return expectations. The company’s core strategy focuses on stable, income-generating assets with low risk. The core-plus strategy targets properties with slight enhancement potential, providing moderate growth. For higher returns, Patrizia also adopts a value-add strategy, which involves investing in properties requiring significant improvements. Additionally, the opportunistic strategy is aimed at high-risk, high-reward opportunities, such as undeveloped land or distressed assets, providing substantial potential for growth.

In 2025, Patrizia acquired a high-quality residential portfolio primarily located in Tokyo, serving a global institutional investor. The company also launched a joint venture with Fabrix to deliver sustainable, affordable, and alternative housing in London, addressing the city’s housing shortage. These recent acquisitions highlight Patrizia’s commitment to expanding its real estate and infrastructure presence across key global markets while continuing to diversify its investment strategies.

Leadership Team

Asoka Wöhrmann | CEO | Executive Director | Chair of the Group Executive Committee
Wolfgang Egger | Founder | Executive Director
Martin Praum | CFO | Executive Director
James Muir | Head of Investment Division | Executive Director
Konrad Finkenzeller | Head of Client Division | Executive Director

References

Global Real Asset Investment Management | Patrizia SE
Patrizia SE | Wikipedia
Patrizia SE – Company Profile | Global Data
PATRIZIA 2025 Company Profile | PitchBook
PATRIZIA – Overview, News & Similar companies | ZoomInfo
Patrizia AG Share Price NPV | Hargreaves Lansdown
Patrizia Immobilien – 2025 Company Profile & Team | Tracxn
PATRIZIA AG, Augsburg, Germany | North Data
Patrizia – Crunchbase Company Profile & Funding | Crunchbase
PATRIZIA SE – Company Profile and News | Bloomberg
PATRIZIA | The Org
PATRIZIA Immobilien AG is now called PATRIZIA AG | Galivel & Associés
Patrizia – Investor Details | PitchPilot

Fuggerstrasse 26, 86150 Augsburg, Germany

Website https://www.patrizia.ag/en/

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