What’s the largest Polish family office by AUM?

Our team of family office experts at familyofficehub.io has identified that Kulczyk Investments is the largest single-family office in Poland, with estimated assets under management of over €2bn. While there are wealthier Polish citizens, Kulczyk Investments is the largest investment vehicle that can be seen as a family office.

How does Kulczyk Investments invest?

The Kulczyk family office primarily invests in mid-sized companies at various stages of development, often taking majority stakes, but also participating as a minority shareholder or within consortia. Its portfolio spans sectors such as chemicals, real estate, infrastructure, and technology, with operations in over 30 countries. Among its major holdings are Qemetica, a major chemical manufacturer in Central Europe; Beyond.pl, a data center operator that recently partnered with Nvidia to develop a supercomputing cluster in Poznań; NOHO Investment, a real estate developer focused on premium residential and mixed-use projects in Poland; and QKR Corporation, a mining venture in Namibia. Kulczyk Investments also has a venture capital arm, Manta Ray VC, which backs early-stage companies in biotechnology, education, and digital infrastructure. The firm is known for its involvement in some of the largest private-sector deals in Poland since the early 1990s.

Major deals in recent years have underlined the scale of the largest Polish investments. In 2023, the family office sold its French highway portfolio to the fund Meridian for an estimated €700M. In May 2025, the firm’s real estate development arm, Noho Warszawa, received a €180M loan from BNP Paribas Bank Polska for a new development in Poland’s capital.

Alternative candidates for the Polish family office ranking by AUM

Our familyofficehub.io research team has analyzed various alternative candidates for the ranking of the largest Polish family offices. For instance, we looked at the wealthiest Polish citizen, Michal Solowow. Although Solowow is an active investor through various funds (Black Forest SICAV, IPOMEMA 112 FIZAN, etc., we were not able to narrow down his activities to one large-scale family office. Also, many Polish billionaires hold their wealth in their family companies, e.g., Tomasz Biernacki through his supermarket chain Dino Polska, or Jerzy Starak through his pharmaceutical firm Polpharma S.A.

Picture Source: Iwona Castiello d’Antonio, Unsplash (16.05.2025)