It was founded in 1127 by Saint Otto, Bishop of Bamberg, as a community of Augustinian Canons, on a site near a church consecrated in 880 by Englmar, Bishop of Passau, in honour of Saint Peter. In 1146 Egilbert, the successor of Otto, gave the foundation and a new church of Our Lady to the Cistercians, and after the departure of the canons, Abbot Sefried, with monks from Ebrach Abbey, took possession.