CVI Dom Maklerski has announced the final close of CVI Private Debt Fund II, which reached EUR 262 million in commitments. In the recent closing, Erste Group, the leading financial institution in Central Europe, joined the fund’s investor base, alongside 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. Launched in the first quarter of 2024, the fund provides flexible private debt financing primarily to small and medium-sized enterprises.

Since its launch, the fund has already completed 29 investments. The fund 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 directed towards companies pursuing growth projects, planning international expansion, strengthening their competitive position or seeking financing tailored to the specific needs of their business. CVI Private Debt Fund II finances companies across selected sectors, including IT, financial services, transport, construction and agri-food.

The fund expects to complete more than 40 investments across Central Europe, with a primary focus on Poland, as well as Romania, Czechia, Slovakia, the Baltic states, Hungary, Slovenia and Croatia. The fund meets the requirements of Article 8 of the SFDR, reflecting CVI’s commitment to integrating ESG policies into its investment process.

Investors in CVI Private Debt Fund II include, among others, Bank Gospodarstwa Krajowego, European Investment Fund, European Bank for Reconstruction and Development,  IFC – International Finance Corporation, Polish Development Fund, as well as pension funds from four countries, banks, asset managers, family foundations, high-net-worth individuals.

Already in the summer of 2025, Raiffeisen Investment, a member of the regional banking group, joined the group of new investors.

– We are pleased to have joined the CVI Private Debt Fund II in the summer of 2025. Private equity activity has risen in recent years, while private credit remains relatively underdeveloped. We therefore welcomed the opportunity to join forces with a strong regional partner. We believe private markets will be indispensable to every savvy investor’s portfolio in CEE, and rising client demand confirms this trend – said Jaromir Sladkovsky, CEO, Raiffeisen Investment.

In the recent closing, Erste Group joined the fund’s investor base. It is the 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 private, corporate, and institutional clients a broad range of banking and financial services from retail and private banking to corporate and transaction banking, as well as asset management.

– In CVI, we see a partner with substantial experience and a leading position in the private debt market across Central Europe. With a shared focus on long-term value creation, we see this as the foundation for a lasting partnership that will strengthen our ability to meet client demand for stable investment opportunities – said Nemanja Stevanović, Director Corporate Finance & Alternative Investments Erste Group.

ALTUM, a Latvian financial institution whose mission is to support economic development by complementing the private financial market, also joined as a new investor. 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 demonstrates our targeted approach to strengthening access to capital in the region. We particularly value the fund’s active expansion into the Baltic states, including Latvia, creating new opportunities for local companies. Partnering with CVI as a market leader provides an additional boost to the development of mid-market businesses and supports the introduction of new, flexible financing solutions in Latvia and across the Baltic region. We view this investment as the beginning of a long-term and strong partnership that will make a meaningful contribution to the growth of companies in the region, and we look forward with confidence to successful future cooperation – said Reinis Bērziņš, Chairman of the Management Board of ALTUM.

– Our mission is to provide financing to high-quality 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 entrepreneurship across 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 generate attractive risk-adjusted returns – said Radoslav Tausinger, Partner at CVI.