Investment funds in Poland

Clifford Chance

Clifford Chance advises a number of major financial institutions on the formation and operation of regulated funds in Poland. In particular, the team has expertise in the launch, registration and marketing of funds. Wojciech Polz advised the Polish Industrial Development Agency on the buy-back of Stocznia Gdańsk and GSG Towers through the purchase of shares owned by companies controlled by Sierhiej Tarutain. Miłosz Gołąb and department head Andrzej Stosio assisted MCI.PrivateVentures Fund with an agreement related to a margin lending transaction with Raiffeisen Bank International. Grzegorz Namiotkiewicz is another key contact.

CMS Cameron McKenna Nabarro Olswang Posniak i Bejm sp.k.

Investment funds are a core competency of CMS, which draws on the firm's wider corporate, capital markets, tax and banking expertise. The team is noted for being 'well prepared to provide tailor-made solutions' for funds. Jakub Marcinkowski and Piotr Ciołkowski advised the Polish Development Fund on its investment into the Jaworzno Power Plant, which is owned by Tauron. In 2018, Błażej Zagórski was promoted to partner, while Marcin Bejm joined from Clifford Chance.


Dentons' services include the implementation of structures using dedicated closed-end investment funds, the renegotiation of contracts with fund managers and regulatory advice for financial institutions. Team leader Marcin Bartczak advised a global investment management corporation on a restructuring aimed at winding up its investments in Poland. Counsel Inga Dulska is also recommended for structuring, regulatory and day-to-day legal advice.

Rymarz Zdort

Rymarz Zdort's team has experience in creating and structuring securitisation and real estate funds, closed-end investment funds and in Poland-based fund management company M&A. Highlights for practice head Paweł Rymarz included advising BPH Towarzystwo Funduszy Inwestycyjnych on the sale of two real estate portfolios to Fundusz Inwestycyjny Zamkniety Aktywow Niepublicznych; a matter that also involved the restructuring of the financing of the portfolio assets by various banks. Counsel Zofia Frydrychowicz is another key practitioner.

Crido Legal

At Crido LegalMateusz Baran advises Klepierre on a number of projects, including disposals, acquisitions and corporate reorganisations. He also provides full legal services to mAccelerator and its portfolio companies. Mateusz Rogoziński and senior associate Katarzyna Żółcińska are also recommended.


Linklaters leverages its global presence to advise funds on the Polish aspects of cross-border formation and transactions. The team is instructed by sponsors, management teams and investors. Together with London's William BuckleyDaniel Cousens and Janusz Dzianachowski advised Centerbridge Partners Europe on its joint venture with Goldman Sachs Group and its funds, established to acquire Robyg. Tomasz Zorawski, who is dual-qualified in Poland and the US, and Marcin Schulz are also key names.

BWHS Wojciechowski Springer i Wspólnicy

BWHS Bartkowiak Wojciechowski Hałupczak Springer Sp.k. has a niche in supporting investment funds, seed funds and start-ups at all stages of their operations. The expanding group welcomed Katarzyna Racka and Łukasz Wroński from the Office for Competition and Consumer Protection; and Patrycja Gorgoń-Wróbel from an in-house position, amongst others in 2018. Monika HałupczakDariusz Bucior and Katarzyna Miłek advised Aper Ventures on the creation of an investment fund and on an investment agreement with the Polish Development fund.

PwC Legal Zelaznicki sp.k.

At PwC Legal Pawlowski Żelaznicki Sp. KJacek Pawłowski leads the Investment Funds Sector Group, which acts for investors, funds and fund managers on the spectrum of regulatory and corporate matters. Pawłowski is advising Skanska Commercial Development Europe on its Polish real estate investment fund. Counsel Mateusz Ordyk leads on regulatory matters.

SSW Pragmatic Solutions

SSW Pragmatic Solutions' team is noted for the variety of its expertise in the space. Department head Wojciech Szczepaniak specialises in M&A and is supported by capital markets expert Szymon Okoń and tax lawyer Tomasz Wickel. Okoń advised Shiny Group on the partial exit of a venture capital fund.

Wardynski & Partners

Danuta Pajewska leads the team at Wardynski & Partners, which handles public company legal obligations, financial institution operating rules, public listing of securities and capital markets transactions. Senior associate Marcin Pietkiewicz is also recommended.