July 2022 marked a significant acquisition for Baker McKenzie Krzyzowski i Wspólnicy Sp.k., with Filip Uziębło – formerly of Rymarz Zdort – joining the team, along with senior associates Magdalena Medyńska and Marcin Płonka. Uziębło now jointly heads up the practice with Tomasz Krzyżowski; the former has extensive transactional expertise, while the latter is particularly noted for assisting key private equite players with buy-outs and exits. The partner bench was also strengthened in the same month by the internal promotion of ‘truly outstanding‘ Łukasz Targoszyński. Recently, ESG-related mandates have formed an increasing part of the workload.

Drawing on the experience of Clifford Chance‘s highly regarded banking and finance, capital markets and M&A departments, the private equity offering is able to provide significant transactional expertise in all of the key sectors which are of interest to private equity houses. At partner level, corporate experts Agnieszka Janicka,  Marcin Bartnicki and Wojciech Polz are the names to note. The group also fields a deep counsel bench, which was strengthened further in May 2022 by the promotion of Karol Kulhawik.

Described as ‘one of the strongest teams on the Polish market‘, Greenberg Traurig Nowakowska-Zimoch Wysokinski Sp. k fields a large group of dedicated practitioners, well versed in both domestic and cross-border private equity transactions. Practice head Lejb Fogelman focuses particularly on assisting international businesses from a variety of industries. Other notable senior practitioners include Rafał Baranowski, who ‘always finds a solution to any negotiation deadlock‘ and Aleksander Janiszewski, who oversees the firm’s dedicated venture capital offering. Klaudia Królak was a new arrival in September 2023 from Linklaters.

Although Rymarz Zdort Maruta‘s clients come from a wide range of industry sectors, the firm is particularly well known for assisting in the healthcare, retail, FMCG, real estate, financial services, and technology spaces. The team leverages the significant combined commercial, corporate and capital markets expertise of its constituent practitions, as well as the broader antitrust and tax capabilities of the firm, to advise on both domestic and cross-border private equity transactions. Managing partners Paweł Zdort and Paweł Rymarz oversee the work.

CMS Cameron McKenna Nabarro Olswang Posniak i Bejm sp.k. assists its private equity clients with issues arising throughout the investment cycle, from acquisitions and integrations, through to implementation of growth strategies and divestments. Sławomir Czerwiński leads the team, with Rafał Zwierz providing support from his position as head of the corporate and M&A department. Błażej Zagórski is recommended for his experience advising German companies on investment projects in Poland, while counsel Olga Czyżycka-Szczygieł stands out for her wide-ranging transactional expertise.

Operating as part of a five-office network across the CEE area, Dentons‘ Warsaw-based team receives recognition as a ‘trusted partner‘ from global, regional and local private equity houses and venture capital funds, and their portfolio companies. Piotr Dulewicz oversees both the private equity and M&A departments, and is consequently particularly well placed to assist with mandates benefitting from such dual expertise. Other noted practitioners include Paweł Grabowski, whose presence on a deal ‘gives a feeling of security‘, and recently promoted partner Michał Wasiak.

Operating under the umbrella of a joint corporate, M&A and private equity department, the offering at DLA Piper Giziński Kycia sp.k. focuses on complex transactional work, bringing ‘exceptional experience and know-how‘ to the gamut of mandates. At the senior level, Jakub Marcinkowski, Marta Frąckowiak and Jakub Domalik-Plakwicz are particularly recommended. The firm is recognised for its wide-ranging sector expertise, which covers aras as diverse as aviation, healthcare, financial services, technology, and media.

Alongside proven transactional expertise, the team at DWF Poland Jamka Sp.k stands out for its proven track record assisting with fund formations, cross-border venture capital financings, and exits. The firm's recent work has spanned Europe, Asia, the Middle East and the US. The key senior practitioners are Michał Pawłowski, who leads the corporate and M&A department; Filip Urbaniak, who is particularly noted for his knowledge of the mining sector; and Rafał Wozniak, whose competencies range from capital markets to commercial matters.

Since the arrival of Mateusz Rogoziński from CRIDO in May 2021, SSW Pragmatic Solutions has been steadily increasing its private equity client portfolio, acquiring leading names including Innova Capital. Rogoziński now co-chairs the ‘young, dynamic and driven‘ department, alongside M&A specialist Paweł Chyb. Katarzyna Solarz also has significant experience in the funds space, both transactional and regulatory. The group is praised for being ‘able to think outside of the box in critical situations‘.

White & Case M. Studniarek i Wspólnicy - Kancelaria Prawna sp.k.‘s multi-disciplinary group is instructed by clients raning from domestic and regional private equity houses and investment banks, to the largest public and private companies involved in transactions into the sector. In addition to its competence advising on English and Polish law issues, the team also fields several US-qualified practitioners, including Michał Petz. In January 2022, Marek Sawicki made partner. Corporate and M&A practice head Marcin Studniarek is also responsible for overseeing the private equity offering.

B2R Law Jankowski Stroinski Zieba is best known for assisting with technology-related deals across Poland and the wider CEE region, and has a successful recent track record operating in the area of convergence between venture capital and private equity investments. Away from transactional work, the firm is also very active in the fund formation space. Rafał Stroiński - whose client base spans buyers, sellers and targets - heads up the practice.

Under the leadership of Marcin Macieszczak, GESSEL Attorneys at Law‘s M&A department also handles private equity and venture capital mandates, which form a significant part of the overall workload.  In terms of industry specialisations, clients from the TMT sector most commonly instruct the firm, followed by those from the healthcare field. Małgorzata Badowska and Maciej Kożuchowski are also key names within the group.

Gide Loyrette Nouel takes a 'creative approach to challenges' arising in all the corporate, financial, regulatory, tax and contractual areas relating to the private equity sector; the team's expertise ranges from leveraged buyouts to venture capital transactions. Paweł Grześkowiak - whose specialist areas include banking and finance, M&A, and aviation-related matters - leads the department.

Bringing together a team of practitioners with in-house experience garnered from both private equity firms and commercial entities, Kochanski & Partners typically advises investment committees and management boards on all stages of the fund life cycle, with particular expertise in formation and structuring. In March 2022, the promotions of Weronika Duda and Aneta Serowik strengthened the bench at counsel level. Pawel Cholewinski is the key senior contact.

Linklaters advises on the full range of downstream private equity-related transactions, including domestic and cross-border leveraged buyouts, acquisition finance and exit strategies. The team is also increasingly instructed by international investors seeking to enter the local market. Since publication, Klaudia Królak left the firm.

Although Norton Rose Fulbright advises on all types of private equity transactions, the team is best known for assisting with the buy-out, restructuring and exit phases. The firm is predominantly involved with the local elements of deals carried out by both international and Polish funds. Corporate practice head Agnieszka Braciszewska leads on most of the work. Recently, the group has been increasingly involved with distressed asset deals.

Clients value the private equity offering at Schoenherr Halwa sp.k. for providing the 'best possible outcome' in national and cross-border transactions. Paweł Halwa, who also heads up the corporate and M&A department, 'co-ordinates the team very effectively'. The group offers strength in depth at a variety of levels, from seasoned partner Krzysztof Pawlak, to counsel Marcin Antczak and senior associate Daria Rutecka.

Wardynski & Partners is a local advisor of choice for the Polish aspects of cross-border private equity M&A deals; assisting with such matters makes up a significant proportion of the firm’s workload. The group is active across a wide range of sectors, including real estate, technology and healthcare. Since publication, leadership of the department has been taken over by Jakub Lerner.

WKB Lawyers is consistently instructed to assist with complex transactions for institutional investors, including private equity and other alternative assets funds, and is highly regarded for its 'ability to mitigate potential deal-breakers'. The team is particularly experienced in the food, fintech, and industrial manufacturing sectors. Jakub Jedrzejak and Ben Davey are the senior practitioners to note; the latter brings over 20 years' experience working in Australia to the group.