For current
and future
generations

About WEGA is a German single family office with 20 years of experience

WEGA is the family office of the Wendeln family, a German entrepreneurial family with roots in the industrial bakery space going back to 1919. The family office was founded in 2000 after the sale of the family’s operating business.

WEGA employs a diversified investment approach, based on the US Endowment model with diversification on a regional and asset class basis. WEGA is committed to the principles of responsible investing.

What’s important to us

Fairness and accountability

Pursuit of excellence

Consistency

CRITERIAManager selection is based on three main criteria

For each fund investment we weigh its prospective returns, the associated risk and its impact on environment and society. Investments should have an ideal balance of all three criteria.

Every prospective investment is subject to a thorough due diligence process and is measured against our investment criteria. The assessment is summarised in the investment grid.

Return

Long-term, successful track record with existing team and comparable structure

Impact

Adherence to ethical principles, generating a positive ESG delta

Risk

Transparent strategy without tail risks, good interest alignment between manager and investors

Strategy Asset Allocation

Asset Classes

Our asset allocation is centred around Private Equity, Absolute Return and Public Equities. Fixed Income and Real Estate are also important components in portfolio construction.

Regions

To adequately manage global risks and opportunities we choose to invest evenly across the three dominant economies – Europe, North America and Asia.

Equity-like returns with significantly lower drawdown risk

We prioritize efficiency and accountability when investing the family wealth by identifying and backing the best fund managers across asset classes and regions. For us, efficient investing means the best ratio of risk to expected return.

We expect our fund managers to adhere to high ethical standards. We conduct a long-term investment approach and are willing to accept illiquidity. We expect to generate equity-like returns while taking significantly lower risk.

  • Global equities
  • Global bonds
  • WEGA target corridor
strategie-chart-Investitionen WEGA INVEST 1 2 3
  1. Underperformance during bubbles
  2. Wealth protection during drawdowns
  3. Positive absolute return

ESGWe want to act and invest responsibly….

WEGA perceives ESG as an existential responsibility that we must adhere to as a globally active investor. 

We feel we have a responsibility and have summarized our plan of action in WEGA’s ESG Policy.  

We will continuously expand our ESG activities and use our leverage as an investor to maintain the environment for current and future generations. 

We look for investments that actively generate a positive impact and expect all our partners to live up to their responsibility.


… and align our portfolio accordingly

We classify each investment into one of seven categories, depending on their impact on the environment and society. This is based on our ESG questionnaire and our due diligence findings. We communicate our categorisation to our managers.

Our goal is to improve the portfolio’s aggregate ESG profile over time. Accordingly, we are actively seeking investments that fall into the A – C categories. Currently, much of the portfolio still falls into categories D – Y.

Positive Impact

A High Positive Impact

Impact fund, primary objective of >50% of all investments is to generate positive impact. Manager defines and monitores impact targets. Generation of impact is part of the incentive system and center of the corporate culture

B High Net Positive Impact

Funds where the manager actively works towards a significant improvement in ESG KPIs (ESG activist). ESG as a corporate philosophy. Makes a positive difference in its portfolio companies.

C ESG Themes or Integration

Funds who focus on investments in ESG topics such as Healthcare, Renewable Energies, Environment protection or Social Inclusion. Alternatively with a focus on ESG criteria in the investment selection. ESG at top management level and part of the corporate philosophy.

No Impact

D Negative Screening

Extensive exclusion of sectors/companies with a negative impact. ESG as an important consideration in investment selection. Exposure to negative impact sectors <2%.

X ESG Ignorance without Impact

Funds where ESG is not the focus of the manager. Few exclusions but overall little (<5%) to no exposure to negative impact sectors.

Negative Impact

Y ESG Ignorance with Impact

Funds where ESG is not the focus of the manager, no or very few exclusions and with some (>5%, <25%) exposure to negative impact sectors.

Z ESG Negative

Funds where >25% of the portoflio is in negative impact sectors. Manager has not establised meaningful ESG frameworks or targets and does not perceive ESG to be part of his process.

Team Munich

The WEGA team in Munich (WEGA Invest Gmbh) and Garrel (WEGA Support GmbH) has a total of 16 employees. The team is complemented by an advisory board under the stewardship of family representatives.

Team Munich

The WEGA team in Munich (WEGA Invest Gmbh) and Garrel (WEGA Support GmbH) has a total of 16 employees. The team is complemented by an advisory board under the stewardship of family representatives.

Team

Alexander Wendeln

Advisory Board Member

Bernd Wendeln

Chairman Advisory Board

Dr. Bodo Coldewey

Managing Director | CEO

David Kukulies

Portfolio Manager

Dr. Johanna Amberger

Portfolio Manager

Martin Richter

Portfolio Manager

Matthias Kray

Managing Director | CIO

Patrick Diener

Portfolio Manager