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IPE special report May 2018

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Bank of NY launches Poland fund firm

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POLAND – The Bank of New York has launched an investment fund company in Poland to tap pension fund demand.

BNY National Trust TFI SA “plans to offer a number of investment funds including private equity, hedge funds and real estate” the bank said.

Its first fund will be a closed-end private equity investment fund offering a portfolio of private equity funds and direct investments in established privately held companies.

The fund's primary investment objective will be to seek capital growth, with income as a secondary objective.

The firm has submitted an official application to the Polish SEC for permission to start operations.

"As a company that helps clients move and manage assets in more than 100 markets worldwide, the Bank takes great pride in being the first asset manager to offer US and European private equity opportunities to the Polish institutional market," said Behdad Alizadeh, managing director of BNY Capital Markets.

BNY National Trust president Podobas added: "BNY National Trust will provide Polish pension funds and other institutional investors with an opportunity to diversify their existing holdings from both an asset class and geographic perspective through an investment vehicle that does not currently exist in the Polish public market."

The bank said that in the last year Polish pension fund assets have increased by approximately 40%, from $21bn in to $29bn.

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