“Upon launch, we’ll be targeting €250 million in total commitments, with a first close of over €100 million expected by late 2025,” reveals Savvas Liasis, Chairman of private equity firm ECM Partners Inc. He is referring to ECM Fund Management Ltd, the private equity firm's newly licensed Alternative Investment Fund Manager (AIFM), recently approved by CySEC – the local watchdog – and its Slovenian counterpart.
The fund will focus on mid-market companies undergoing transition or temporary dislocation. “This is where active ownership and operational improvement can unlock sustainable, long-term value,” says Liasis. Indeed, this has long been ECM’s go-to strategy.
Building on a long-standing record
According to Liasis, the launch of the Cyprus-regulated operations will build on the firm’s deep regional presence and proven track record. By 2024, ECM had completed nine exits, achieving a 2.6x multiple on invested capital and a portfolio internal rate of return of 34.4%. Examples include Famar, a leading Greek contract pharmaceutical manufacturer with a blue-chip client base, and Merkur, a once-distressed Slovenian DIY retailer.
“We combine local access, disciplined risk assessment and hands-on value creation to identify and transform high-potential businesses,” Liasis explains. The firm’s long history in the region, he adds, provides early access into off-market opportunities and trusted relationships with business owners and financial institutions. The way the firm builds value in its mid-market deals is by improving operations, strengthening management, fine-tuning capital structures and, where it makes sense, sector consolidation. “With teams across the region and a long record of execution, we can operate effectively in complex or cross-border situations. In essence, this new phase represents the institutionalisation of ECM’s investment approach – continuing the disciplined, opportunity-driven strategy that has defined our firm’s success to date.”
Local deals and beyond
In Cyprus, ECM has acquired more than 90% of Ygia Group, which is spearheaded by Ygia Polyclinc, through which it also aquired Eden Medical Center in 2025, creating the island’s largest private provider of inpatient care services, with over 270 beds. Other acquisitions include Londa Residences in Limassol, a luxury development, and 16 villas in Latchi, Paphos District.
But the new Cyprus-regulated operations won’t be confined to the island. The fund will apply the same opportunistic, control-oriented private equity strategy across EU member states in Central and Southeastern Europe, including Greece, Slovenia, Croatia, Poland, Bulgaria and Romania.
Cyprus offers the right balance
“Establishing our AIFM in Cyprus was a strategic decision,” Liasis explains. This is due to the country’s combination of a strong EU regulatory framework and proximity to the markets in which the firm has been active for more than a decade. "Cyprus offers the right balance between investor confidence, oversight and regional accessibility – allowing us to institutionalise ECM’s platform while staying close to our core CEE and SEE markets.”
