According to Preqin’s Fund Manager Profiles database there are 155 fund managers based in Central and Eastern Europe who have raised €15.7bn in aggregate capital commitments in the last 10 years. Russia is the most popular location in the region, with 60 fund managers raising over half the aggregate capital in the past decade. Poland is home to 20 fund managers who have raised nearly a quarter of aggregate capital over the last 10 years, followed by Turkey with 14 managers raising 8% of the €15.7bn in the last decade. These 155 firms have an estimated €5.3bn at their disposal, 89% of which have a geographic preference to invest exclusively in the CEE region.
Within the CEE region and Russia, Baring Vostok Capital Partners has raised the largest amount of capital in the past decade. The firm has raised €2.9bn over the last 10 years, closing the Baring Vostok Private Equity Fund V and Supplemental Fund this year on $1,500mn (€1,163mn); it currently has an estimated €1.4bn in dry powder. The buyout firm has been investing in companies operating principally in Russia, Kazakhstan, Ukraine, and countries of the former Soviet Union since 1994.
Enterprise Investors is Poland’s largest private equity firm by capital raised, having raised €1.4bn in the past decade. Enterprise’s head office is in Warsaw, with an additional office in Budapest to invest throughout the CEE region. The firm makes buyout as well as venture capital investments in a broad range of industries including consumer, manufacturing and healthcare, and has an estimated €390mn at its disposal.
Actera Group is an Istanbul-based buyout firm and the largest private equity firm in Turkey by total capital raised in the last decade. Actera has raised €475mn since it was established and has the Actera Partners II fund currently in market targeting €815mn in investor commitments. The firm targets companies in Turkey with enterprise values of at least €75mn to invest in a broad range of industries.