Griffin ready to sink its teeth
Investment & financePOLAND The griffin is a mythical animal - a lion with the head and wings of an eagle. According to legend, it is a quick, bold, and fierce creature known for accumulating and guarding treasure and gold. And this is what Griffin Group is like, too.The investment fund manager was established in 2007 by Przemysław Krych, the founder of private equity fund Cornerstone Partners. It immediately raised EUR 150 mln mainly from institutional investors (95 pct of its capital), including the Abu Dhabi Investment Council.
The value of the properties bought by the fund now exceeds EUR 880 mln. But it hasn't finished yet - Griffin's appetite has since grown. "This year we are planning to invest a further EUR 150 mln - and it is not out of the question that it could even be EUR 200 mln," declares Przemysław Krych, who is the president of the management board of Griffin Group. Along with the aforementioned Abu Dhabi Investment Council, Oaktree Capital Management is another institutional fund investing in Griffin Group. Private investors are also paying in, such as Elliott Bernerd, Sir Stuart Lipton and the family of Sheikh Olayan.
A chance in the crisis
The crisis has given Przemysław Krych greater opportunities for buying properties from companies experiencing financial problems or from official receivers. "We are not a developer. We are an opportunistic fund. Our strategy involves making the most money for our investors as quickly as possible. We are not attached to one business model. Our strength li
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