Portfolio Associate – Real Assets (m/w/d)

Portfolio Associate – Real Assets (m/w/d)
Location: Munich

Actively steer and develop a diversified real assets portfolio

As Portfolio Associate – Real Assets, you will play an active role in the management and strategic development of Viessmann’s Generational Portfolio across real estate, forestry, and regenerative agriculture.

The role focuses on performance optimisation, structured portfolio management, and disciplined capital allocation within a long-term capital platform. Rather than transaction-driven execution, it emphasises ownership, operational value creation, and resilient portfolio construction.

Viessmann Generations Group

As a globally active, independent family business in its fourth generation, we have been shaping living spaces for generations to come since 1917. Under the leadership of Max Viessmann, we pursue our mission with a long-term perspective and entrepreneurial spirit.

Today, the Viessmann Generations Group supports over 30 mid-sized companies and family businesses across Europe and the US as well as a broad real assets portfolio – all united by their active contribution to the energy transition. We invest capital, expertise, and passion in three core impact areas:

• Climate : Renewable energy, carbon reduction, and green infrastructure

• Water : Solutions for water scarcity, quality, and efficiency

• Food : Sustainable agriculture, supply chain innovation, and food technology

Our goal: to create impact – ecological, societal, and entrepreneurial.

The Viessmann Way supports how we work, lead, and create value together - whether as a team member, entrepreneur or partner in our ecosystem. It is not a rulebook, but a compass: a living set of principles shaped by over a century of entrepreneurship and guided by our long-term purpose.

Generational Portfolio

Through Generational Investments, we pursue cross-generational commitments in real estate, forestry, regenerative agriculture, and renewable energy.

We act as both investor and steward, combining financial performance with ecological and societal responsibility. Our real estate investments prioritise energy efficiency, community well-being, and responsible resource use. In forestry, we focus on sustainably managed assets that sequester carbon and protect biodiversity. In agriculture, we support regenerative practices that restore soil health and strengthen resilient food systems.

This role contributes directly to the performance optimisation and strategic development of Viessmann’s real assets portfolio.

Key Challenges & Responsibilities

• Analyse asset‑level performance, valuation, return profiles, and risk dynamics

• Review and challenge business plans of existing investments

• Develop and monitor KPI frameworks for structured portfolio management

• Support capital allocation decisions within the portfolio

• Collaborate with internal stakeholders and portfolio companies to enhance operational and financial performance

• Prepare decision materials for senior leadership and governance bodies

• Contribute to the continuous improvement of portfolio management processes

What You Bring

• 3–5 years of experience in real assets, asset management, private equity portfolio management, infrastructure, or comparable investment‑related roles

• Experience analysing and steering existing investments, including exposure to business plan reviews and value creation initiatives

• Strong financial modelling and valuation capabilities

• Solid understanding of risk‑return dynamics and capital allocation principles

• Experience working with structured performance monitoring frameworks

• Ability to translate financial and operational insights into clear, decision‑oriented recommendations for senior stakeholders

• Fluency in English required; German beneficial

• Analytical, ownership‑driven mindset with the ambition to contribute beyond pure analysis
  

Experience in at least one real asset class (e.g., Real Estate, Infrastructure, Energy, Natural Capital, Agriculture) is advantageous.

Why Join Us

This role offers the opportunity to operate within a long‑term capital platform backed by a fourth‑generation family enterprise. You will gain exposure to portfolio steering and capital allocation decisions across a diversified, multi‑asset real assets platform.

At Viessmann Generations Group, we combine entrepreneurial thinking with disciplined investment management. You will work closely with experienced investors and operators in a high‑trust environment that values ownership, intellectual curiosity, and value creation.

The role provides long‑term development opportunities within the Generational Investments platform and meaningful responsibility from day one.