There are 20 Poland-based fund managers currently listed on Preqin’s Fund Manager Profiles database. Of these firms, 85% are headquartered in the capital Warsaw, with the remaining fund managers based in Gdansk, Lodz and Konstancin-Jeziorna. Collectively, these private equity firms have raised €3.7bn over the last 10 years and have an estimated €1.3bn available in dry powder.
In terms of investment strategies, the majority of the firms generally target either venture capital or buyout opportunities. Preqin’s latest data shows that 30% of the Poland-based private equity firms offer venture capital financing, either exclusively or as a part of their investment strategy, and 70% predominantly adopt a buyout investment approach.
The top three Polish firms in terms of total capital raised in the past 10 years are Enterprise Investors, Innova Capital and Abris Capital Partners. Together, the three firms have raised an aggregate €2.7bn in capital over the last decade, representing 74% of the total commitments raised by all 20 of the Poland-based fund managers across this period.
Enterprise Investors actively seeks mid-market buyout projects in a wide range of industry sectors in Central and Eastern Europe (CEE). The firm is currently marketing the seventh buyout fund in its series, which is targeting €826mn.
Innova Capital has a preference for mid-market companies within Central, Eastern, or South-Central Europe, primarily in the EU accession countries. It invests in media, financial services, telecoms and other business services but also examines selected opportunities in the manufacturing sector.
Abris Capital Partners makes buyout investments and specifically focuses on industrial, commercial and service businesses that have a strong regional presence in CEE. The firm’s offices in Warsaw, Bucharest and Kiev mean the firm can draw on local and international networks across CEE to develop their portfolio companies.