Polish Private Equity Association established

22 members form alliance to advance private equity investment in Poland.

Advent International, Baring Private Equity Partners and Dresdner Kleinwort Capital are among 22 private equity firms that have come together to form Poland’s first private equity association.

The Polish Private Equity Association (PPEA or Polskie Stowarzyszenie Inwestorow Kapitalowych) will aim to develop the country's private equity market and encourage private equity investment into Poland.

According to the Association's executive director, Dariusz Stola, the private equity industry, which first emerged in Poland ten years ago, is a vital element in Poland’s economic progress. “The private equity industry has become a significant part of the Polish capital market and an important factor in the country’s development. To date, around $4bn has been raised for investments in the region.”

The Association’s board comprises representatives from a range of the PPEA’s constituent members. Robert Manz, partner at Enterprise Investors, will preside over the association. David Fisher, managing director and partner at Innova Capital, will become PPEA treasurer.

The PPEA is currently undergoing formal registration with the Polish courts and expects to announce further details of its activities at a press conference in late March or early April.