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Private Equity Firms in Eastern Europe

by Ben Formela Osborne

  • 16 Dec 2009
  • PE

In the last 10 years private equity firms headquartered in Eastern Europe have raised close to $15 billion in aggregate capital. Russian private equity firms have contributed 45% of this total, the most of any country in the region. The second largest contributors are Polish firms, accounting for 30% of the total. Turkish and Czech headquartered firms each raised a little over 6% of the region’s total capital, whilst Ukraine- and Hungary-based private equity firms raised 4.2% and 3.2% of the region’s total respectively.

Of all fund types, venture is the most utilized by Eastern European private equity firms, with more than half of the region’s fund managers primarily focused on venture investments. A little over a quarter focus on raising buyout funds.

Baring Vostok Capital Partners is one of the largest private equity firms in Russia, having raised more than $2 billion in the last decade.  The Moscow-based firm makes investments across several industry sectors including oil and energy, branded consumer goods, telecommunications and media. Polish Enterprise Investors, headquartered in Warsaw, closed its first venture fund in 2009 but has raised more than $1.5 billion over the past decade from buyout funds. The two other firms based in the region to have  raised more than $1 billion since 1999 are Russia Partners and the Polish-based Innova Capital. Czech Republic’s PPF Partners has accumulated the fifth largest amount of capital in the region, having raised $823 million in the last decade.

For a comprehensive, detailed source of information on private equity fund managers, including information on current and historical dry powder levels across fund types, regions, and across fund sizes, please see our Fund Manager Profiles product.

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