CVI Dom Maklerski has announced the final close of CVI Private Debt Fund II, which reached a capitalisation of EUR 262 million. As part of the final closing, Erste Group, a leading financial institution in Central Europe, joined the fund’s investor base. New investors also include ALTUM, a Latvian financial institution supporting business development, and Raiffeisen Investment. The capital raised by the fund will be used to support the growth of small and medium-sized enterprises in Central Europe, including the international expansion of Polish companies.
CVI Private Debt Fund II is the second institutional private debt fund managed by CVI. The fund was launched in the first quarter of 2024 and provides flexible private debt financing primarily to small and medium-sized enterprises.
Since its launch, the fund has completed 29 investments. It has also recorded its first exit, demonstrating the effectiveness of its investment strategy and its ability to generate returns in line with expectations.
The fund’s capital is intended for companies pursuing growth projects, planning international expansion, strengthening their competitiveness or requiring financing tailored to the specific nature of their business.
CVI Private Debt Fund II finances companies from selected sectors, including IT, finance, transport, construction and agri-food. The fund plans to complete more than 40 investments in Central Europe, primarily in Poland, as well as in Romania, the Czech Republic, Slovakia, the Baltic states, Hungary, Slovenia and Croatia. The fund meets the requirements of Article 8 SFDR, reflecting CVI’s commitment to implementing ESG policies in the investment process.
Investors in CVI Private Debt Fund II include Bank Gospodarstwa Krajowego, the European Investment Fund, the European Bank for Reconstruction and Development, IFC — the International Finance Corporation, the Polish Development Fund, as well as pension funds from four countries, banks, asset management firms, family offices and high-net-worth individuals.
In the summer of 2025, Raiffeisen Investment, a member of a regional banking group, joined the fund’s investor base.
“We are pleased to have joined CVI Private Debt Fund II in the summer of 2025. Activity in the private equity market has increased in recent years, while private credit remains relatively less developed. We therefore welcomed the opportunity to join forces with a strong regional partner. We believe that private markets will become an essential element of every informed investor’s portfolio in Central and Eastern Europe, and growing client demand confirms this trend,” said Jaromir Sladkovsky, CEO of Raiffeisen Investment.
As part of the final close, Erste Group also joined the fund’s investor base. Erste is a leading banking group in Central Europe, serving around 23 million customers in Austria, Croatia, the Czech Republic, Hungary, Poland, Romania, Serbia and Slovakia. Erste Group offers retail, corporate and institutional clients a broad range of banking and financial services, from retail and private banking to corporate and transaction banking and asset management.
“At CVI, we see a partner with extensive experience and a leading position in the private debt market in Central Europe. We view our shared approach, based on long-term value creation, as the foundation of a lasting partnership that will strengthen our ability to respond to clients’ demand for stable investment opportunities,” said Nemanja Stevanović, Director Corporate Finance & Alternative Investments at Erste Group.
Another new investor is ALTUM, a Latvian financial institution whose mission is to support economic development by complementing the private financial market. The institution provides financing through instruments such as loans, guarantees and investments in venture capital funds.
“ALTUM’s investment in CVI Private Debt Fund II reflects our targeted approach to increasing access to capital in the region. We particularly value the fund’s active expansion in the Baltic states, including Latvia, which creates new opportunities for local companies. The partnership with CVI, a recognised market leader, will further support the development of mid-sized enterprises and help introduce new, flexible financing solutions in Latvia and the wider Baltic region. We see this investment as the beginning of a strong, long-term partnership that can make a meaningful contribution to the development of companies in the region. We look forward with optimism to successful cooperation in the years ahead,” said Reinis Bērziņš, Chairman of the Management Board of ALTUM.
“Our mission is to provide financing for valuable business projects. In our investments, we focus on companies for which traditional financing may be insufficient or more difficult to access. In this way, we help overcome barriers related to limited access to capital, open up new growth opportunities for entrepreneurs and stimulate the development of entrepreneurship in Central Europe. At the same time, thanks to the work of our experienced investment team of more than 40 professionals, we create stable capital allocation opportunities for our investors and help build attractive risk-adjusted returns,” said Radoslav Tausinger, Partner at CVI.
Source: CEO.com.pl
