Alternative Investment Funds

A capital-raising expert,
Persuasive equity storyteller,
& Investment committee member

A believer in disciplined investment approaches and proven playbook models, Primoz has the knowledge to spot underlying industry trends, connect people and create well balanced risk-return investment opportunities for alternative investment funds’ managers investing in SouthEast Europe.

Southeast Europe: the region with vast potential for the Alternative Investment Funds industry

Trailing roughly 20 years behind core EU in terms of AIF penetration, the SEE region today offers unique potential for attractive returns.

The local alternative asset management industry (AIF) remains underdeveloped but enjoys strong tailwinds, despite "still not being discovered" by large international funds due to its relative size, over-arching frontier market classification, and fragmentation. However, underlying trends from 2020 to 2024 show significant growth in the AIF industry and a fast-paced catch-up trend.

A favorable macro potential story of the SEE region, at a glance.

  • Average GDP growth 2020-2023 in SEE 2,85% p.a. (vs. 0,95% for Core EU)

  • Expected GDP growth 2024-2028 in SEE 3,15% p.a. (vs. 1,55% for Core EU)

  • Government Debt / GDP in 2023: 54% (SEE) vs. 80% (Core EU) vs. 83% (EU)

  • Frontier Market to Emerging Market transition case (Romania example) to be followed by other markets

As seen from the graph below, the entire CEE region still has low private equity penetration (alternative investment funds) compared to the rest of Europe. However, considering that the majority of these investments are concentrated in the Polish and Czech markets (which are not part of SEE), the PE penetration of the SEE region versus core EU is truly marginal.

SOURCE: Invest Europe –2022 Central & SOUTHEAST EUROPE Private Equity Statistics, World Bank, Preqin, Mideuropa analysis

How Can I Be of Service in SEE Alternative Investment Funds Engagement?

What I Offer as an Investment Committee Member

As a strong believer in disciplined investment and pricing approaches, I adhere to value investing and focus on core-skillset industries and sectors, applying conservative use of leverage. I advocate for a deep understanding of the most successful international playbook models when assessing the future potential of a regional investment opportunity. Committed to the “protecting the downside” investment rationale, I am an avid advocate of pursuing investments with asymmetrical risk/return profiles—limited downside risk with higher upside potential. As an investment committee member, I offer:

  • An unbiased and conservative view on the attractiveness of investment opportunities.

  • A deep understanding of the financial and accounting aspects of portfolio companies' products and services.

  • Emphasis on the importance of talent management and the quality of executive teams at the portfolio companies' level.

  • Advocacy for the use of data to create value for the company and shape its future business strategy.

Ask me about this experience

IC member of ALFI PE and ALFI PE Growth (2019 - ) – AUM 135 mil EUR

  • With to-date net IRR of 31% and 22% respectively, with TVPI of 2,0x and 1,6x, both PE funds are on a good track to realize targeted MoM multiples of 3,0-times to 4,0-times for their LP base.

What I Offer as a Capital Raising Expert

As a believer in “earning the trust” with prospective LPs through a clear track record of value creation, humbleness in promises, and the power of “over-delivery”, I am committed to constantly expanding relationships with institutional LPs familiar with the asset class. I am also advocating for strong, continuous relationships with leverage providers, such as banks and private debt providers, to enhance the returns profile of the investment portfolio.  As a capital raising expert, I offer:

  • Clearly articulating the investment narrative

  • Exemplifying the value of data-driven investment decision making

  • Showing strong capacity to react quickly on any headwind trends within the portfolio

  • Exemplifying the domain expertise in the targeted investment strategy sectors

  • Not taking the credit where there is none to be taken (i.e. positive market developments)

Ask me about this experience

Supporting capital raising strategy for pioneering PE funds in the South East European region

  • Blue Sea Capital (2010 – 2011) – first time fund, co-raising money during the times of extreme cash crunch and widespread disbelief in the asset class in the region. Securing entirely HNWI LPs funding as a fund co-founder and core team member. Funds raised 34 mil EUR.

  • ALFI PE Funds (2017-2018) – first time fund, co-raising money backed by the lessons-learned and ultimate investment strategy logic of protecting the investment downside for future LPs. Funds raised 70 mil EUR. Additional funds taken over 65 mil EUR (GP replacement). Total managed LP funding 135 mil EUR.

Knowledge. Interpreted.

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