• KRUK Group to Restructure, Seeks Status as Alternative Investment Company
WROCŁAW, Poland – KRUK S.A. announced on Wednesday a plan to adjust its organisational structure by separating its operational and investment activities.
The Polish debt management firm will seek to obtain the status of a listed Alternative Investment Company (ASI) to support its 2025–2029 strategy.
What is new?
The KRUK Group is initiating a significant organisational change to separate its operational functions from its investment activities. As part of this process, the listed parent company, KRUK S.A., will apply to become an Alternative Investment Company (Alternatywna Spółka Inwestycyjna, or ASI). The company stated this move is designed to more effectively implement its Strategy for 2025–2029 and prepare it for future growth.
Strategic Rationale
According to CEO Piotr Krupa, the structural adjustment is intended to improve risk management by increasing transparency and reducing potential conflicts of interest. The company expects the change to enhance the efficiency of its investment and operational processes. Obtaining ASI status will place the company under the supervision of the Polish financial services authority KNF and require a depositary, which Krupa noted would strengthen investor protection. The new structure is also aimed at strengthening access to financing and broadening diversification options.
Implementation and Timeline
The restructuring process is expected to take approximately two years. Key stages include the separation of operational activities in Poland, such as debt management, and the separation of financial activities related to issuing and servicing prospectus-based bonds, which an ASI is restricted from holding. The project is subject to a number of formal and legal steps, including approvals from the KNF, the company’s Supervisory Board, and the General Meeting, as well as arrangements with business partners. Shareholders of KRUK S.A. will remain shareholders of the new entity, and the company stated the position of bondholders and lenders will not deteriorate.
Future Growth and Investments
KRUK reaffirmed its Strategy for 2025–2029, which projects organic growth and investments in debt portfolios of approximately PLN 15 billion. The company is considering entering new markets, including the United Kingdom and the United States. It also plans to invest approximately PLN 200 million over several years in new asset types beyond debt portfolios, such as technology companies that provide services to the financial sector, particularly in Poland and Romania.
About this company
KRUK S.A. is a company specializing in debt portfolio management, headquartered in Wrocław, Poland. With a 28-year history, the firm evolved from a debt servicing company to one that also invests in and manages debt portfolios. The KRUK Group operates in several European markets, focusing primarily on unsecured retail debt. Under the proposed plan, the listed entity would become KRUK ASI S.A., a listed alternative investment company.