CVC picks Polish head from Innova

Krzysztof Krawczyk will head CVC’s new office in Poland, where the firm plans to make further investments.

CVC Capital Partners has appointed Krzysztof Krawczyk to head its new office in Poland.

Krawczyk will join the firm in October from Innova Capital, a mid-market central European firm based in Warsaw where he was managing partner. He joined Innova in 2000, according to his LinkedIn profile.

Krawczyk is also a vice president and treasurer of the Polish Private Equity Association.

The establishment of a CVC office in Warsaw follows the firm’s investment in the energy division of Polish National Railways, PKP Energetyka, agreed in July. CVC is reportedly buying the energy company for round $537 million and is planning further investments in Poland.

The Warsaw office brings the number of CVC global offices to 23.

Krawczyk’s appointment follows CVC’s hire of ex-Goldman Sachs banker Alexander Dibelius to head its businesses in German-speaking Europe, as reported by Private Equity International in June.

Krawczyk’s departure from Innova has prompted a reshuffle of its 17-strong investment team, the firm said. Magda Magnuszewska, who has been at Innova for 12 years is its new head of TMT and Leszek Muzyczyszyn, who has worked at the firm for 7 years, has joined the three-person management team.

Innova manages funds totalling €900 million and has made 40 investments in 10 countries focused on growth buyouts with a typical equity investment size of €20 million to €50 million, according to its website.

Its latest fund is Innova/5, a €388 million, 2009-vintage vehicle that has made seven investments including in bathroom fittings company Marmite, e-commerce company Grupa Wirtualna and food company Bakalland, and made one exit.