CVI Dom Maklerski Sp. Z O.O.

What CVI Dom Maklerski Sp. Z O.O. does

CVI Dom Maklerski Sp. Z O.O. is a Warsaw-headquartered private debt fund manager and Polish brokerage house (Dom Maklerski) founded in 2012. The firm manages 8 investment funds with approximately EUR 1.1 billion (PLN 4.5 billion) in assets under management, organized across three strategy categories: senior private debt funds investing in non-public bonds issued by mid-sized companies, sectoral funds focused on real estate and financial-sector obligors, and mezzanine funds offering higher-return debt with potential equity participation. CVI provides flexible, sponsorless debt financing — including bespoke bond issuances, subordinated debt, and hybrid instruments — directly to entrepreneurs and business owners in Central and Eastern Europe, covering 10 countries across Poland, the Czech Republic, Slovakia, Romania, Hungary, the Baltic states, Slovenia, and Croatia.

The firm has deployed over EUR 3.3 billion across more than 800 private debt transactions since inception and operates one of the largest dedicated private debt investment teams in the region with approximately 45 professionals. CVI runs local offices in Warsaw and Prague, with regional partner coverage for Poland, the Czech Republic/Slovakia/Baltics, and Romania/Hungary. CVI's business model combines management fees on AUM with performance/carried interest on fund returns benchmarked against WIBOR 3M plus spreads of 3-10% depending on strategy and risk profile. Distribution is multi-channel, combining institutional direct fundraising (EIB, EBRD, IFC, BGK, PFR, Erste Group, ALTUM, Raiffeisen Investment) with private banking distribution through Bank Pekao S.A. and IPOPEMA TFI, and fund administration via VeloFunds TFI and Luxembourg-based IRE-AIFM.

CVI's most recent flagship fund, CVI Private Debt Fund II, achieved final close at EUR 262 million in May 2026, with the firm targeting EUR 280-300 million in financing to SMEs across the CEE region. Fund I is on track to return invested capital in full to investors with approximately 12% net annual returns. The firm holds UN PRI signatory status since 2019, SFDR Article 8 compliance on Fund II, and maintains PCAF, POLSIF, and 30% Club Poland memberships as part of its ESG positioning.

Name

CVI Dom Maklerski Sp. Z O.O.

Legal name

CVI Dom Maklerski sp. z o.o.

Website

https://cvi.pl

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

CVI Dom Maklerski is a Central European private debt fund manager that provides flexible senior, sectoral, and mezzanine debt financing to mid-sized enterprises without requiring PE sponsor backing. Founded in 2012 in Warsaw, it manages 8 funds with EUR 1.1 billion AUM across 10 CEE countries.

Ownership category

akta.pro rank

Product category

Private Debt Fund Management

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Vehicles (525990)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Independent Venture Debt Funds / Platforms (FSANAIAB)

akta.pro secondary industries

Direct Lending — Venture Debt (FSAHAJAD), Mezzanine / Subordinated Debt (FSANADAC)

Keywords

• Private debt funds
• Direct lending
• SME debt financing
• Fund management services
• Mezzanine debt

Headquarters

HQ city

Warsaw

HQ country

Poland

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Revenue model

1. Private Debt Fund Management Fees: CVI generates management fees by managing portfolios for 8 investment funds. Funds include: Fundusz Długu Korporacyjnego Rentier FIZ, CVI SICAV SIF S.A. – CVI CEE Direct Lending, CVI CEE Private Debt Fund SICAV RAIF, CVI Private Debt Fund II S.C.A. SICAV-RAIF, CVI IPOPEMA RE Debt FIZAN, IPOPEMA Benefit 3 FIZAN, Mezzanine FIZAN, CVI CEE Junior Debt. Management fees are charged on assets under management.
2. Performance/Carried Interest Fees: Fund managers earn performance fees based on fund returns above hurdle rates. Expected returns range from 3-7% above WIBOR 3M for senior private debt, 4-7% above WIBOR 3M for sectoral private debt, and 7-10% above WIBOR 3M for mezzanine strategies.
3. Direct Private Debt Financing: CVI provides flexible debt financing to mid-sized companies, structuring deals through bond issuances, subordinated debt, and other instruments. Returns generated from interest income and origination fees on financed transactions.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

CVI Dom Maklerski is an independent investment company and licensed brokerage house managing 8 private debt investment funds with combined assets of approximately PLN 4.5 billion (EUR 1.1 billion). The firm originates and structures flexible debt financing — primarily non-public bonds, subordinated debt, and mezzanine instruments — for small and mid-sized enterprises across Central Europe. Investors gain access to these strategies through managed fund vehicles distributed via institutional channels, fund platforms, and private banking networks.

Product overview

CVI Dom Maklerski is a private debt investment firm operating as a fund manager across Central Europe. The company manages 8 investment vehicles organized into three main strategy categories: (1) Private Debt funds providing flexible senior debt financing to SMEs using bond instruments, (2) Private Debt Sektorowe (Sectoral) funds focused on specific industries like real estate, and (3) Mezzanine funds offering higher-risk debt with potential equity participation. The fund portfolio includes both open-ended and closed-ended structures domiciled in Poland (FIZAN) and Luxembourg (SICAV SIF/RAIF). The company also partners with IPOPEMA TFI for select fund products.

Differentiator

Problem solved

Functional benefit

Brands

• CVI Private Debt Fund II: Second institutional commitment-based private debt fund providing flexible debt financing to SMEs in Central Europe, with focus on Polish companies' international expansion.
• Pathfinder
• Fundusz Długu Korporacyjnego Rentier FIZ
• CVI IPOPEMA RE Debt FIZAN

Products and services

• Fundusz Długu Korporacyjnego Rentier FIZ A Polish closed-end corporate debt fund investing in non-public bonds issued by companies, targeting expected returns of 3-7% above WIBOR 3M with a medium-low (SRI 2-3) risk profile. Available to investors via fund subscription.
• CVI SICAV SIF S.A. – CVI CEE Direct Lending Luxembourg-domiciled SICAV-SIF fund providing direct lending to companies in Central and Eastern Europe under Luxembourg law, managed by CVI for institutional investors.
• CVI CEE Private Debt Fund SICAV RAIF Luxembourg RAIF vehicle offering flexible debt financing to Central European enterprises, structured as a reserved alternative investment fund.
• CVI Private Debt Fund II S.C.A. SICAV-RAIF Second institutional commitment-based private debt fund providing flexible debt financing to SMEs in Central Europe including Poland, Romania, Czech Republic, Slovakia, Baltic states, Hungary, Slovenia and Croatia. Final close at EUR 262 million in commitments.
• CVI IPOPEMA RE Debt FIZAN Closed-end Polish fund specializing in private debt financing for residential and commercial real estate developers, holding over PLN 400 million in assets and having financed PLN 6 billion+ of developer projects across 340+ transactions.
• IPOPEMA Benefit 3 FIZAN Closed-end Polish fund investing in secured bonds issued by financial sector companies operating in lending, receivables acquisition, factoring and leasing services.
• Mezzanine FIZAN Closed-end mezzanine fund financing projects, M&A transactions and management buyouts via non-public bonds and equity participations, targeting returns of 7-10% above WIBOR 3M at SRI 4 risk level.
• CVI SICAV SIF S.A. – CVI CEE Junior Debt Luxembourg SICAV-SIF sub-fund providing junior/mezzanine debt investments in non-public companies across CEE, with higher expected returns and increased volatility compared to senior strategies.

Quantifiable outcome

• EUR 3.3 billion invested across 800+ transactions since 2012
• +4 more outcomes

Named customers10 records

Segments4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and supporting.

• Bank Pekao S.A.coreChannel Partner/ Reseller/ DistributorBank Pekao S.A. became the first bank in Poland to offer private debt investments to its private banking clients. CVI partnered with Bank Pekao S.A. and IPOPEMA TFI to bring private debt fund products to private banking clients including family foundations. This is a landmark partnership for broadening access to private debt in Poland.
• IPOPEMA TFI S.A.coreChannel Partner/ Reseller/ DistributorIPOPEMA TFI co-distributes CVI's sectoral private debt funds including IPOPEMA Benefit 3 FIZAN and CVI IPOPEMA RE Debt FIZAN. The partnership also includes joint private banking distribution with Bank Pekao S.A.
• VeloFunds TFIsupportingChannel Partner/ Reseller/ DistributorVeloFunds TFI provides fund administration services for Mezzanine FIZAN, including valuation and reporting. Source of fund valuations and performance data.
• IRE-AIFMsupportingTechnology or IntegrationLuxembourg-based AIFM providing fund administration services for CVI SICAV SIF S.A. sub-funds including CVI CEE Junior Debt. Publishes fund valuations on behalf of CVI's Luxembourg structures.
• 30% Club PolandsupportingStrategic or Co-development PartnerCVI joined 30% Club Poland, supporting initiatives to increase women's representation on management boards and supervisory boards. Both organizations share the same values and belief in diverse perspectives driving better business outcomes.
• POLSIF (Polish Sustainable Investment Forum)supportingStrategic or Co-development PartnerCVI became a member of POLSIF, joining a community dedicated to promoting sustainable finance and investment across Central Europe. POLSIF is part of the EUROSIF network, fostering knowledge exchange and developing industry standards.
• Partnership for Carbon Accounting Financials (PCAF)supportingStrategic or Co-development PartnerCVI joined PCAF, a global initiative bringing together financial institutions to measure and disclose greenhouse gas emissions from their lending and investment portfolios. Supports CVI's climate risk analysis and ESG commitments.
• Žabolis PartnerssupportingStrategic or Co-development PartnerCVI provided capital for Žabolis Partners to acquire a majority stake in TOKS through a secured bond issue. CVI and Žabolis Partners partnered on this transportation sector investment in Lithuania.
• Polish Chamber of Fund and Asset Management (Izba Zarządzających Funduszami i Aktywami)supportingStrategic or Co-development PartnerRafał Lis, Managing Partner at CVI, was appointed to the Board of the Polish Chamber of Fund and Asset Management. CVI was a partner of the 20th Fund Forum organized by the Chamber.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Ares Management: Global alternative asset manager with substantial European direct lending business. Comparable as a broad incumbent expanding into CEE private credit with lower cost of capital than regional specialists.
• Intermediate Capital Group (ICG): Large publicly-listed alternative asset manager with substantial European direct lending franchise. Comparable as a broader incumbent offering private debt strategies across Europe at scale.
• Apollo Global Management: Global credit-focused alternative asset manager. Comparable as a broad incumbent in private debt with growing European and CEE focus that competes with CVI for mid-market lending opportunities.

Regional players

• Abris Capital Partners: Leading CEE-focused private equity firm with operations across Poland, Romania, and the region. Comparable as a CEE-headquartered alternative asset manager that frequently partners with debt providers including CVI itself.
• Innova Capital: CEE-focused private equity firm investing in mid-market companies in Poland and the region. Comparable as a regional alternative asset manager operating in adjacent capital structure solutions for CEE SMEs.
• Penta Investments: Central European investment group with private credit, banking, and asset management operations across CEE. Comparable as a regional player providing debt and capital solutions across the same geography as CVI.
• Conseq Investment Management: Czech asset management firm operating investment funds including credit strategies. Comparable as a CEE-based fund manager offering alternative credit products to institutional and retail investors in the region.

Direct peers

• Hayfin Capital Management: European-focused direct lending and special situations fund manager. Comparable as a non-bank private credit manager serving mid-market companies with bespoke debt solutions across Europe.
• Tikehau Capital: European alternative asset manager with significant direct lending and private debt operations. Comparable as a publicly-traded peer in private credit fund management with multi-strategy European exposure.

Emerging players

• MezzCapital: CEE-focused mezzanine and private debt fund manager. Comparable as an emerging regional player in the same mezzanine and subordinated debt segment where CVI's Mezzanine FIZAN competes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/credtitvalueinvestments

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments6 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CVI Dom Maklerski Sp. Z O.O.