Provectus Capital Partners (“PCP” or “Provectus”), one of Southeast Europe’s leading private equity firms, today announced the first close of its second buyout fund, PCP SEE Fund II, securing total commitments of €162.5 million. The fund is expected to reach its final close in Q2/Q3 2026, targeting a final size of up to €250 million.
Diversified institutional backing and investor continuity
PCP SEE Fund II has attracted robust interest from a broad base of institutional investors, reflecting growing confidence in both Southeast Europe’s private equity landscape and Provectus’ proven investment model.
Commitments were secured from banks and development finance institutions, pension funds, insurance companies, and family offices. Nearly all investors from PCP Fund I have recommitted capital to the new fund, while new investors now comprise approximately 50% of the total investor base.
Expanding focus beyond healthcare
Building on the success of its €95 million PCP Fund I, which primarily targeted healthcare investments across the Adriatic region, PCP SEE Fund II will continue to invest in healthcare while broadening its focus to additional fast-growing and fragmented sectors.
Launched in 2020 with €95 million in commitments, PCP Fund I built a portfolio of five platform companies and executed over 40 add-on acquisitions across the Adria region.
The new fund will target market-leading companies with proven growth potential across Croatia, Slovenia, and neighboring Adria markets, while expanding into Romania and Bulgaria. To reinforce its regional footprint, Provectus has recently opened offices in Bucharest and Sofia, enhancing its local origination and execution capabilities.
Buy & Build strategy
PCP SEE Fund II will pursue a Buy & Build investment strategy, targeting €15–25 million equity investments per platform, typically deployed in stages and complemented by debt financing and co-investments. By combining a strong local presence with active consolidation, Provectus aims to build scalable regional champions and generate sustainable value through operational excellence and strategic M&A.
Igor Čičak, CEO and Managing Partner of Provectus Capital Partners, commented:
“We are proud to announce the first close of Fund II at €162.5 million. The continued support from our existing investors, alongside strong participation from new institutional LPs, demonstrates confidence in our strategy, our performance to date, and our long-term vision for value creation in Southeast Europe.
Our investors share our conviction that there are significant opportunities in this region for disciplined Buy & Build strategies. With Fund II, we will continue to invest in healthcare while also expanding into new high-growth, fragmented sectors and geographies across Southeast Europe.”
