The mandatory private pension fund (Pillar II) managed by BCR Pensii, part of the Austrian Erste Bank Group, reported it placed RON 4.3 mln in assets from the category of private equity - the first investment of this type for a Pillar 2 fund since they were launched in May 2008. "We are talking about investments in two private equity funds, CEECAT Capital II and Black Peak Capital, which we financed together with multilateral financial institutions, such as EIF, EBRD or IFC. [Our] investments in the two funds will continue," Radu Craciun, general manager of BCR Pensii, told Profit.ro. Speaking about further such placements, Craciun said that he was looking forward to seeing first the new form of the norm that regulates the investments of pension funds, which is underway at the Financial Supervision Authority (ASF). In June 2021, Black Peak Capital closed the first round of capitalization, raising EUR 68.5 mln for its investment fund Black Peak Southeast Europe Growth Equity Fund - compared to a final target of EUR 120 mln. In the spring of last year, CEECAT Capital Fund II raised EUR 120 mln for investments in small and medium-sized companies in Central and Eastern Europe and Turkey, in the first round of financing that had as investors institutions such as the EBRD, the European Fund Investment Funds (EIF), but also pension funds. The fund wants to invest in SMEs in Romania, Bulgaria, Slovenia, Croatia and Serbia.
A growing number of Romanian employees are facing emotional difficulties, with 63.6% reporting they are currently going through a challenging period, according to the latest survey conducted by the online recruitment platform eJobs. The leading cause, cited by 22.2% of respondents, is insufficient income to cover their daily expenses. Other factors include personal problems (14.5%) […]
Romania carried out a medical evacuation mission to assist Palestinian civilians from the Gaza Strip, continuing its humanitarian support amid the ongoing crisis. A C-27J Spartan aircraft operated by the Romanian Air Force transported 12 severely ill Palestinian patients, along with 21 accompanying family members, to Romania for medical care. The aircraft departed from Otopeni […]
Bucharest mayor and independent presidential candidate Nicușor Dan is ahead of George Simion, the leader of far-right party AUR, in voting intentions, according to a poll presented on Thursday, May 15, by the independent public opinion polling institute IRSOP. This is the first time that the former takes the lead in the race for president. […]
Romanian retail chain La Cocoş recorded a turnover of RON 1.18 billion (EUR 237 million) in 2024, marking a 20.7% y/y increase and becoming the first domestically owned retailer to exceed the RON 1 billion benchmark, according to Ziarul Financiar. Founded in 2014 by entrepreneur Iulian Nica, La Cocoş...
Even though Romania's currency, RON (leu), has depreciated relatively steeply in the past weeks, compared to historic low volatility, ING Romania maintains its exchange rate forecast for this year and argues that the national currency could recover from recent losses. "However, it is important to look at the bigger picture: financial markets can often have […]
Romania's industrial production index contracted by 4.2% y/y in Q1 and neared the lowest level in the past three years, according to the statistics office INS. The seasonal and workday-adjusted index (-0.4% q/q) has followed a visible downward trend after the post-Covid recovery in 2021 and 2022. The seasonal and workday-adjusted index in Q1 was […]
