ZF interview. Dariusz Pietrzak, Enterprise Investors: It was not a decision not to invest directly in Romania recently. In fact, the opposite is true, we are actively looking, we want to make transactions locally. We just have to find the right targets. Therefore, the constraints were not of a macroeconomic nature until now, but of a microeconomic nature

Dariusz Pietrzak, investor relations partner at Enterprise Investors: The fundamentals for investment are good in Central and Eastern Europe, but access to capital is challenging. Investors from the West redirected their money to the USA.
♦ At the moment, the private equity fund does not have any local company in its portfolio ♦ The most recent acquisition dates from 2016, it is the toy distributor and retailer Noriel, which Enterprise Investors sold in 2022 ♦ However, the investor made, through the companies in the portfolio, add-on type transactions in Romania.

Dariusz Pietrzak, investor relations partner at Enterprise Investors, one of the first financial investors who bet on Romania at the end of the 90s, says that Central and Eastern Europe, on paper, in numbers, is doing very well, with above-average growth. But when it comes to fundraising, in recent years Western investors have preferred not to put their money here, but in the West, especially in the USA recently. That is why local investors are needed. «The year 2022 represents a turning point for the region. After the pandemic ended, the world stage was marked by Russia's aggression against Ukraine and global geopolitical tensions. This translated into an unpredictable economic environment, with record inflation and rising interest rates.»
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