Przemysław Krych is the founder of Cornerstone Investment Management, one of CEE's leading private equity investment management businesses. He also founded Griffin Real Estate, which is now the largest real estate asset manager in CEE with approximately €5 billion of assets under management.

Przemysław has deep expertise and experience in both investment, re-structuring and business management and has a demonstrable track record of creating value for investors. He lead the execution of multiple landmark deals in the region.
Prior to founding Cornerstone Investment Management, Przemysław was a managing director and a manager of the Emerging Europe Private Equity Funds group at Franklin Templeton and prior to that he worked at Bank Handlowy (now Citi Handlowy), where he held number of senior positions including amongst others Chairman of Investment Committee and Member of Management Committee.

Przemysław graduated with first class honours from the Law Department of Adam Mickiewicz University in Poznań, where he subsequently worked as an assistant lecturer.

Paweł Dębowski is one of the most respected and recognised real estate professionals in Poland and CEE. With over 30 years of expertise, he was involved in numerous strategic real estate investments and developments in Poland.

He started his career at Arthur Andersen and for the last ten years he worked at Dentons, the largest law firm in the world, as the Chairman of the Real Estate Group, Europe advising institutional investors, developers, lenders, construction companies and major international companies operating in CEE and Western Europe. Paweł was previously Chairman of the management board of GTC S.A. (the largest developer in CEE) where he was responsible for projects across the region including the first commercial, office development in Serbia, institutional developments and sales in Romania and the development of the second phase of Iconic Galeria Mokotów and Galeria Kazimierz.

Paweł is a member of the Royal Institution of Chartered Surveyors (FRICS).

Darius Divwalla has over 20 years' experience in real estate investment. Before joining Cornerstone, he spent 13 years at Chelsfield (property developer, investor, and asset manager) with its headquarters in London and offices in Paris, New York, and throughout Asia and was its Group CIO.

Prior he worked for Henderson Global Investors (now Nuveen) creating the pan-European Outlet Mall Fund.
Darius is a member of the Royal Institution of Chartered Surveyors (MRICS), and has a degree from City University in Real Estate and Finance.

Stanislav joined Cornerstone and was previously at Griffin Real Estate. Before joining Griffin Real Estate, Stanislav was CEO at HB Reavis Poland, having joined in 2006 with responsibility for overall business management and development including supervising acquisitions in the CEE - during this period supervised the securing and development of projects with final GAV of EUR 2 bn.

Earlier in his career, Stanislav worked at Benefit Finance, a Slovak consulting firm specializing in M&A activity, serving as a financial analyst where he was advising on the re-structuring of €1.4bn of non-performing loans of the Slovak Consolidation Agency  and the National Property Fund of the Slovak Republic.

Stanislav graduated from City University of Seattle in Trencin, Slovakia in 1999, where he majored in business management.

Andrzej Klesyk is a seasoned executive and is most well renowned as being the longest-serving CEO of PZU, the CEE's largest insurer. Under his leadership, he initiated and supervised PZU’s successful listing on the Warsaw Stock Exchange, which, at the time, was the largest ever in Poland's. Prior to joining PZU, Andrzej was a Founder of Inteligo, the fast-growing internet bank in Poland, which he successfully sold to PKO BP, Poland’s largest banking group. He also served as Partner at both McKinsey and Boston Consulting Group.

Andrzej's business interests lie in fostering breakthrough ideas, developing new business concepts that increase shareholder and investor value and major transformational projects. He graduated from Harvard Business School with a MBA and currently sits on the European Advisory Board to the School.

Andrzej Rojek emigrated to the USA from Poland in 1981 and upon graduating from Columbia University in New York City began a career in Wall Street. Andrzej worked at Merrill Lynch and Bankers Trust, where he was the partner in charge of the global equity derivatives business and subsequently, he co-founded Lydian Asset Management; a $3billion hedge fund focused on equity derivatives and relative value credit investments. Andrzej has served on numerous corporate and non-profit boards including foundations, educational institutions and charitable organizations. 

In 2012 Andrzej initiated a campaign, which resulted in posthumously awarding Jan Karski the Presidential Medal of Freedom. He presently serves as the Chair of the Board of Jan Karski Educational Foundation and is involved in managing a broad range of private investments, from data companies to vineyards in Burgundy.

Przemek Pikus has been involved in Poland’s financial markets for over 20 years. His most recent professional prior to joining Cornerstone Investment Management was as a Managing Director at Santander in the Corporate & Investment Banking group. At Santander, he was responsible for the origination and successful execution of many of Santander’s key transactions and major restructurings in Poland  and the coordination of trade finance and M&A activities for selected clients. Earlier in his career, he spent eight years with Citibank Poland.

Grzegorz Sadowski joined Cornerstone Investment Management in 2019. Grzegorz started his professional career at Pia Piasecki, a construction company and then worked for PwC as an audit and tax consultant as well as financial manager at Avon Cosmetics Poland and Ferrero Poland. During eight years at Agros Nova he held the position of Vice President and CFO. At Cornerstone Investment Management he is responsible for banking relationships, risk management, restructuring projects as well as managing the company’s operational and financial activities.

Paweł Wołkanowicz heads the legal department of Cornerstone Investment Management and specialises in real estate law having joined in 2020. He was previously at Griffin Real Estate for 14 years. He graduated from the Faculty of Law and Administration of the Maria Curie Skłodowska University in Lublin and the Property Valuation College of the Warsaw School of Management.

Piotr Zajączkowski has over 20 years of experience in private equity, management, and M&A. He has extensive business modelling and valuation experience with expertise across a broad range of industries, including TMT, gambling and gaming, chemicals, construction, transportation, logistics, food and real estate. Piotr led several large-scale structured finance projects, corporate bond issues, and IPOs. He was responsible for the IPO, subsequent de-listing, and final sale of Multimedia Polska, Poland's largest cable player, to Vectra. Piotr has served on management and supervisory boards, including InterCars, Multimedia Polska and ETOTO.

Karol Klin has over 20 years' experience in CEE's commercial real estate sector and comes to Cornerstone Investment Management from Globalworth, where he was Head of Leasing. Before that, Karol used to be responsible for leasing activities at GTC, Skanska Property, and Echo Investment. Karol's professional career encapsulates at various times working for real estate agents such as including JLL and CBRE. Karol is a licensed broker and property manager. He is a member of the Royal Institution of Chartered Surveyors (MRICS) and holds a Certified Commercial Investment Member certificate.

Artur Filipiuk has over 10 years of experience in the commercial real estate sector and comes to Cornerstone Investment Management from Adgar Poland, where he was Operations Director. At Adgar, he was responsible for project management, property management, facility management, and IT in ten office buildings totalling approximately 115,000 sqm. Artur has extensive knowledge of commercial building technologies, construction processes and renovation works, including budgeting, design, obtaining construction and planning permits, organizing tenders, as well as the final execution and project management.

Radovan Pistek joined Cornerstone Investment Management in October 2020 as Venture Partner. Before Cornerstone, Radovan was CFO at Exponea (leading CXDP on the market) responsible for Finance and Business Operations. His main objective was to bring more data-inspired decision-making and radical candor.

Early stages of the career Radovan spent within the B4 consultancy companies. These were followed by almost 10 years in HB Reavis on its incredible journey from a local real estate developer to the biggest European real estate solution company where in a role of General Counsel he was leading 60+ professionals mainly in the field of tax, legal and compliance.

Radovan has an LLM from WU (Vienna University of Economics and Business), an ACCA Diploma in IFRS (DipIFR) and a Master degree in law from Trnava University.

Joanna Folbrier is a Senior Vice President responsible for Finance & Accounting at Cornerstone Investment Management and joined in 2020. Previously Joanna was at Griffin Real Estate. At Cornerstone Investment Management, she is responsible for supervising the current investment portfolio and for planning, preparing, and managing the investment structures and holding companies. Joanna completed studies in international relations at the University of Warsaw and in corporate finance and accounting at the Kozminski University.

Tomasz Pietrzak is a Senior Vice-President at Cornerstone Investment Management responsible for cross-border investments. Before joining Cornerstone Investment Management, Tomasz worked at Morgan Stanley in London in consumer and industrials sector focusing on European M&A transactions and at Penta Investments, a CEE focused private equity firm. At Penta, Tomasz was responsible for the Group’s investments in Iglotex, the largest frozen food producer and distributor in Poland and in Empik, the largest omnichannel retailer and service provider. Tomasz graduated from the Imperial College London, and the University of Sussex.

Maciej, before joining Cornerstone, worked for two years as a Director in Structured Finance team of BNP Paribas Bank Polska and earlier spent twelve years with Santander Bank Polska (BZ WBK).

During his career in banking, he was responsible for origination, structuring and execution of large-cap debt transactions for banks’ key clients (in financial sponsors and large corporates segments), with special focus on acquisition finance and syndicated loans.
Maciej graduated from Warsaw School of Economics in 2004, where he majored in International Economics.

Janusz Madurski joined Cornerstone Investment Management in 2017. As a Vice President he is responsible for executing and monitoring investments. Prior to joining Cornerstone Investment Management, Janusz worked at Rothschild & Co and gained experience from internships at Advent International and J.P. Morgan. Janusz graduated from University of Warwick in the UK.

Tomasz Jemielity joined Cornerstone Investment Management in 2019, where he is responsible for corporate private equity and private equity real estate transactions. Previously, he gained experience at Rothschild & Co and in the M&A department of PwC. Tomasz graduated from Poznan University with a degree in Economics, Management and International Business and ESCP Business School in Paris with a degree in Finance.

Michał Pastor joined Cornerstone Investment Management in 2021, where he is responsible for private equity real estate transactions. Previously, he gained 5 years of experience at CBRE Investment Properties department being responsible for commercial due diligence and transaction management. Michał graduated from Warsaw School of Economics.

Olga Bartosik joined Cornerstone Investment Management in 2020. She was previously associated with Griffin Real where she gained experience in office administration. Olga is responsible for the coordination of meetings and daily management in the office and organizing business travels. Olga graduated from the University of Warsaw with a degree in Geology.

Katarzyna Daśko joined Cornerstone Investment Management in 2020.

Andrzej Cytrycki has 20 years of experience in strategic marketing and communication and for the last nine years he has also owned a marketing agency. Over his career to date, he worked with EPP, the largest retail real estate owner in Poland responsible for new media marketing and  was also part of the team who launched Student Depot, the first private student housing platform in Poland. Andrzej left Student Depot after developing strong brand recognition and high levels of visibility with five dorms in five major cities, and over 2,000 beds. 

Before focusing on the real estate market, Andrzej was focused on marketing for financial institutions including Union Investment, Robeco, BankBGZ.

  • CMS

    PRZEMYSŁAW KRYCH

    Founder

    Przemysław Krych is the founder of Cornerstone Investment Management, one of CEE's leading private equity investment management businesses. He also founded Griffin Real Estate, which is now the largest real estate asset manager in CEE with approximately €5 billion of assets under management.

    Przemysław has deep expertise and experience in both investment, re-structuring and business management and has a demonstrable track record of creating value for investors. He lead the execution of multiple landmark deals in the region.
    Prior to founding Cornerstone Investment Management, Przemysław was a managing director and a manager of the Emerging Europe Private Equity Funds group at Franklin Templeton and prior to that he worked at Bank Handlowy (now Citi Handlowy), where he held number of senior positions including amongst others Chairman of Investment Committee and Member of Management Committee.

    Przemysław graduated with first class honours from the Law Department of Adam Mickiewicz University in Poznań, where he subsequently worked as an assistant lecturer.

  • CMS

    PAWEŁ DĘBOWSKI

    Managing Partner

    Paweł Dębowski is one of the most respected and recognised real estate professionals in Poland and CEE. With over 30 years of expertise, he was involved in numerous strategic real estate investments and developments in Poland.

    He started his career at Arthur Andersen and for the last ten years he worked at Dentons, the largest law firm in the world, as the Chairman of the Real Estate Group, Europe advising institutional investors, developers, lenders, construction companies and major international companies operating in CEE and Western Europe. Paweł was previously Chairman of the management board of GTC S.A. (the largest developer in CEE) where he was responsible for projects across the region including the first commercial, office development in Serbia, institutional developments and sales in Romania and the development of the second phase of Iconic Galeria Mokotów and Galeria Kazimierz.

    Paweł is a member of the Royal Institution of Chartered Surveyors (FRICS).

  • CMS

    DARIUS DIVWALLA

    Managing Partner

    Darius Divwalla has over 20 years' experience in real estate investment. Before joining Cornerstone, he spent 13 years at Chelsfield (property developer, investor, and asset manager) with its headquarters in London and offices in Paris, New York, and throughout Asia and was its Group CIO.

    Prior he worked for Henderson Global Investors (now Nuveen) creating the pan-European Outlet Mall Fund.
    Darius is a member of the Royal Institution of Chartered Surveyors (MRICS), and has a degree from City University in Real Estate and Finance.

  • CMS

    STANISLAV FRNKA

    Managing Partner

    Stanislav joined Cornerstone and was previously at Griffin Real Estate. Before joining Griffin Real Estate, Stanislav was CEO at HB Reavis Poland, having joined in 2006 with responsibility for overall business management and development including supervising acquisitions in the CEE - during this period supervised the securing and development of projects with final GAV of EUR 2 bn.

    Earlier in his career, Stanislav worked at Benefit Finance, a Slovak consulting firm specializing in M&A activity, serving as a financial analyst where he was advising on the re-structuring of €1.4bn of non-performing loans of the Slovak Consolidation Agency  and the National Property Fund of the Slovak Republic.

    Stanislav graduated from City University of Seattle in Trencin, Slovakia in 1999, where he majored in business management.

  • CMS

    ANDRZEJ KLESYK

    Managing Partner

    Andrzej Klesyk is a seasoned executive and is most well renowned as being the longest-serving CEO of PZU, the CEE's largest insurer. Under his leadership, he initiated and supervised PZU’s successful listing on the Warsaw Stock Exchange, which, at the time, was the largest ever in Poland's. Prior to joining PZU, Andrzej was a Founder of Inteligo, the fast-growing internet bank in Poland, which he successfully sold to PKO BP, Poland’s largest banking group. He also served as Partner at both McKinsey and Boston Consulting Group.

    Andrzej's business interests lie in fostering breakthrough ideas, developing new business concepts that increase shareholder and investor value and major transformational projects. He graduated from Harvard Business School with a MBA and currently sits on the European Advisory Board to the School.

  • CMS

    ANDRZEJ ROJEK

    Senior Partner

    Andrzej Rojek emigrated to the USA from Poland in 1981 and upon graduating from Columbia University in New York City began a career in Wall Street. Andrzej worked at Merrill Lynch and Bankers Trust, where he was the partner in charge of the global equity derivatives business and subsequently, he co-founded Lydian Asset Management; a $3billion hedge fund focused on equity derivatives and relative value credit investments. Andrzej has served on numerous corporate and non-profit boards including foundations, educational institutions and charitable organizations. 

    In 2012 Andrzej initiated a campaign, which resulted in posthumously awarding Jan Karski the Presidential Medal of Freedom. He presently serves as the Chair of the Board of Jan Karski Educational Foundation and is involved in managing a broad range of private investments, from data companies to vineyards in Burgundy.

  • CMS

    PRZEMYSŁAW PIKUS

    Partner

    Przemek Pikus has been involved in Poland’s financial markets for over 20 years. His most recent professional prior to joining Cornerstone Investment Management was as a Managing Director at Santander in the Corporate & Investment Banking group. At Santander, he was responsible for the origination and successful execution of many of Santander’s key transactions and major restructurings in Poland  and the coordination of trade finance and M&A activities for selected clients. Earlier in his career, he spent eight years with Citibank Poland.

  • CMS

    GRZEGORZ SADOWSKI

    Partner & CFO

    Grzegorz Sadowski joined Cornerstone Investment Management in 2019. Grzegorz started his professional career at Pia Piasecki, a construction company and then worked for PwC as an audit and tax consultant as well as financial manager at Avon Cosmetics Poland and Ferrero Poland. During eight years at Agros Nova he held the position of Vice President and CFO. At Cornerstone Investment Management he is responsible for banking relationships, risk management, restructuring projects as well as managing the company’s operational and financial activities.

  • CMS

    PAWEŁ WOŁKANOWICZ

    Partner, General Counsel & Chief Compliance Officer

    Paweł Wołkanowicz heads the legal department of Cornerstone Investment Management and specialises in real estate law having joined in 2020. He was previously at Griffin Real Estate for 14 years. He graduated from the Faculty of Law and Administration of the Maria Curie Skłodowska University in Lublin and the Property Valuation College of the Warsaw School of Management.

  • CMS

    PIOTR ZAJĄCZKOWSKI

    Partner

    Piotr Zajączkowski has over 20 years of experience in private equity, management, and M&A. He has extensive business modelling and valuation experience with expertise across a broad range of industries, including TMT, gambling and gaming, chemicals, construction, transportation, logistics, food and real estate. Piotr led several large-scale structured finance projects, corporate bond issues, and IPOs. He was responsible for the IPO, subsequent de-listing, and final sale of Multimedia Polska, Poland's largest cable player, to Vectra. Piotr has served on management and supervisory boards, including InterCars, Multimedia Polska and ETOTO.

  • CMS

    KAROL KLIN

    Venture Partner, CCO 5th Corner

    Karol Klin has over 20 years' experience in CEE's commercial real estate sector and comes to Cornerstone Investment Management from Globalworth, where he was Head of Leasing. Before that, Karol used to be responsible for leasing activities at GTC, Skanska Property, and Echo Investment. Karol's professional career encapsulates at various times working for real estate agents such as including JLL and CBRE. Karol is a licensed broker and property manager. He is a member of the Royal Institution of Chartered Surveyors (MRICS) and holds a Certified Commercial Investment Member certificate.

  • CMS

    ARTUR FILIPIUK

    Venture Partner, COO 5th Corner

    Artur Filipiuk has over 10 years of experience in the commercial real estate sector and comes to Cornerstone Investment Management from Adgar Poland, where he was Operations Director. At Adgar, he was responsible for project management, property management, facility management, and IT in ten office buildings totalling approximately 115,000 sqm. Artur has extensive knowledge of commercial building technologies, construction processes and renovation works, including budgeting, design, obtaining construction and planning permits, organizing tenders, as well as the final execution and project management.

  • CMS

    Radovan Pistek

    Venture Partner

    Radovan Pistek joined Cornerstone Investment Management in October 2020 as Venture Partner. Before Cornerstone, Radovan was CFO at Exponea (leading CXDP on the market) responsible for Finance and Business Operations. His main objective was to bring more data-inspired decision-making and radical candor.

    Early stages of the career Radovan spent within the B4 consultancy companies. These were followed by almost 10 years in HB Reavis on its incredible journey from a local real estate developer to the biggest European real estate solution company where in a role of General Counsel he was leading 60+ professionals mainly in the field of tax, legal and compliance.

    Radovan has an LLM from WU (Vienna University of Economics and Business), an ACCA Diploma in IFRS (DipIFR) and a Master degree in law from Trnava University.

  • CMS

    JOANNA FOLBRIER

    Senior Vice President

    Joanna Folbrier is a Senior Vice President responsible for Finance & Accounting at Cornerstone Investment Management and joined in 2020. Previously Joanna was at Griffin Real Estate. At Cornerstone Investment Management, she is responsible for supervising the current investment portfolio and for planning, preparing, and managing the investment structures and holding companies. Joanna completed studies in international relations at the University of Warsaw and in corporate finance and accounting at the Kozminski University.

  • CMS

    TOMASZ PIETRZAK

    Senior Vice President

    Tomasz Pietrzak is a Senior Vice-President at Cornerstone Investment Management responsible for cross-border investments. Before joining Cornerstone Investment Management, Tomasz worked at Morgan Stanley in London in consumer and industrials sector focusing on European M&A transactions and at Penta Investments, a CEE focused private equity firm. At Penta, Tomasz was responsible for the Group’s investments in Iglotex, the largest frozen food producer and distributor in Poland and in Empik, the largest omnichannel retailer and service provider. Tomasz graduated from the Imperial College London, and the University of Sussex.

  • CMS

    MACIEJ SKORUPKA

    Senior Vice President

    Maciej, before joining Cornerstone, worked for two years as a Director in Structured Finance team of BNP Paribas Bank Polska and earlier spent twelve years with Santander Bank Polska (BZ WBK).

    During his career in banking, he was responsible for origination, structuring and execution of large-cap debt transactions for banks’ key clients (in financial sponsors and large corporates segments), with special focus on acquisition finance and syndicated loans.
    Maciej graduated from Warsaw School of Economics in 2004, where he majored in International Economics.

  • CMS

    JANUSZ MADURSKI

    Vice President

    Janusz Madurski joined Cornerstone Investment Management in 2017. As a Vice President he is responsible for executing and monitoring investments. Prior to joining Cornerstone Investment Management, Janusz worked at Rothschild & Co and gained experience from internships at Advent International and J.P. Morgan. Janusz graduated from University of Warwick in the UK.

  • CMS

    TOMASZ JEMIELITY

    Associate

    Tomasz Jemielity joined Cornerstone Investment Management in 2019, where he is responsible for corporate private equity and private equity real estate transactions. Previously, he gained experience at Rothschild & Co and in the M&A department of PwC. Tomasz graduated from Poznan University with a degree in Economics, Management and International Business and ESCP Business School in Paris with a degree in Finance.

  • CMS

    Michał Pastor

    Associate

    Michał Pastor joined Cornerstone Investment Management in 2021, where he is responsible for private equity real estate transactions. Previously, he gained 5 years of experience at CBRE Investment Properties department being responsible for commercial due diligence and transaction management. Michał graduated from Warsaw School of Economics.

  • CMS

    OLGA BARTOSIK

    Office Manager

    Olga Bartosik joined Cornerstone Investment Management in 2020. She was previously associated with Griffin Real where she gained experience in office administration. Olga is responsible for the coordination of meetings and daily management in the office and organizing business travels. Olga graduated from the University of Warsaw with a degree in Geology.

  • CMS

    KATARZYNA DAŚKO

    Executive Assistant

    Katarzyna Daśko joined Cornerstone Investment Management in 2020.

  • CMS

    ANDRZEJ CYTRYCKI

    Public relations

    Andrzej Cytrycki has 20 years of experience in strategic marketing and communication and for the last nine years he has also owned a marketing agency. Over his career to date, he worked with EPP, the largest retail real estate owner in Poland responsible for new media marketing and  was also part of the team who launched Student Depot, the first private student housing platform in Poland. Andrzej left Student Depot after developing strong brand recognition and high levels of visibility with five dorms in five major cities, and over 2,000 beds. 

    Before focusing on the real estate market, Andrzej was focused on marketing for financial institutions including Union Investment, Robeco, BankBGZ.

Przemysław Krych is the founder of Cornerstone Investment Management, one of CEE's leading private equity investment management businesses. He also founded Griffin Real Estate, which is now the largest real estate asset manager in CEE with approximately €5 billion of assets under management.

Przemysław has deep expertise and experience in both investment, re-structuring and business management and has a demonstrable track record of creating value for investors. He lead the execution of multiple landmark deals in the region.
Prior to founding Cornerstone Investment Management, Przemysław was a managing director and a manager of the Emerging Europe Private Equity Funds group at Franklin Templeton and prior to that he worked at Bank Handlowy (now Citi Handlowy), where he held number of senior positions including amongst others Chairman of Investment Committee and Member of Management Committee.

Przemysław graduated with first class honours from the Law Department of Adam Mickiewicz University in Poznań, where he subsequently worked as an assistant lecturer.

Paweł Dębowski is one of the most respected and recognised real estate professionals in Poland and CEE. With over 30 years of expertise, he was involved in numerous strategic real estate investments and developments in Poland.

He started his career at Arthur Andersen and for the last ten years he worked at Dentons, the largest law firm in the world, as the Chairman of the Real Estate Group, Europe advising institutional investors, developers, lenders, construction companies and major international companies operating in CEE and Western Europe. Paweł was previously Chairman of the management board of GTC S.A. (the largest developer in CEE) where he was responsible for projects across the region including the first commercial, office development in Serbia, institutional developments and sales in Romania and the development of the second phase of Iconic Galeria Mokotów and Galeria Kazimierz.

Paweł is a member of the Royal Institution of Chartered Surveyors (FRICS).

Darius Divwalla has over 20 years' experience in real estate investment. Before joining Cornerstone, he spent 13 years at Chelsfield (property developer, investor, and asset manager) with its headquarters in London and offices in Paris, New York, and throughout Asia and was its Group CIO.

Prior he worked for Henderson Global Investors (now Nuveen) creating the pan-European Outlet Mall Fund.
Darius is a member of the Royal Institution of Chartered Surveyors (MRICS), and has a degree from City University in Real Estate and Finance.

Stanislav joined Cornerstone and was previously at Griffin Real Estate. Before joining Griffin Real Estate, Stanislav was CEO at HB Reavis Poland, having joined in 2006 with responsibility for overall business management and development including supervising acquisitions in the CEE - during this period supervised the securing and development of projects with final GAV of EUR 2 bn.

Earlier in his career, Stanislav worked at Benefit Finance, a Slovak consulting firm specializing in M&A activity, serving as a financial analyst where he was advising on the re-structuring of €1.4bn of non-performing loans of the Slovak Consolidation Agency  and the National Property Fund of the Slovak Republic.

Stanislav graduated from City University of Seattle in Trencin, Slovakia in 1999, where he majored in business management.

Andrzej Klesyk is a seasoned executive and is most well renowned as being the longest-serving CEO of PZU, the CEE's largest insurer. Under his leadership, he initiated and supervised PZU’s successful listing on the Warsaw Stock Exchange, which, at the time, was the largest ever in Poland's. Prior to joining PZU, Andrzej was a Founder of Inteligo, the fast-growing internet bank in Poland, which he successfully sold to PKO BP, Poland’s largest banking group. He also served as Partner at both McKinsey and Boston Consulting Group.

Andrzej's business interests lie in fostering breakthrough ideas, developing new business concepts that increase shareholder and investor value and major transformational projects. He graduated from Harvard Business School with a MBA and currently sits on the European Advisory Board to the School.

Andrzej Rojek emigrated to the USA from Poland in 1981 and upon graduating from Columbia University in New York City began a career in Wall Street. Andrzej worked at Merrill Lynch and Bankers Trust, where he was the partner in charge of the global equity derivatives business and subsequently, he co-founded Lydian Asset Management; a $3billion hedge fund focused on equity derivatives and relative value credit investments. Andrzej has served on numerous corporate and non-profit boards including foundations, educational institutions and charitable organizations. 

In 2012 Andrzej initiated a campaign, which resulted in posthumously awarding Jan Karski the Presidential Medal of Freedom. He presently serves as the Chair of the Board of Jan Karski Educational Foundation and is involved in managing a broad range of private investments, from data companies to vineyards in Burgundy.

Przemek Pikus has been involved in Poland’s financial markets for over 20 years. His most recent professional prior to joining Cornerstone Investment Management was as a Managing Director at Santander in the Corporate & Investment Banking group. At Santander, he was responsible for the origination and successful execution of many of Santander’s key transactions and major restructurings in Poland  and the coordination of trade finance and M&A activities for selected clients. Earlier in his career, he spent eight years with Citibank Poland.

Grzegorz Sadowski joined Cornerstone Investment Management in 2019. Grzegorz started his professional career at Pia Piasecki, a construction company and then worked for PwC as an audit and tax consultant as well as financial manager at Avon Cosmetics Poland and Ferrero Poland. During eight years at Agros Nova he held the position of Vice President and CFO. At Cornerstone Investment Management he is responsible for banking relationships, risk management, restructuring projects as well as managing the company’s operational and financial activities.

Paweł Wołkanowicz heads the legal department of Cornerstone Investment Management and specialises in real estate law having joined in 2020. He was previously at Griffin Real Estate for 14 years. He graduated from the Faculty of Law and Administration of the Maria Curie Skłodowska University in Lublin and the Property Valuation College of the Warsaw School of Management.

Piotr Zajączkowski has over 20 years of experience in private equity, management, and M&A. He has extensive business modelling and valuation experience with expertise across a broad range of industries, including TMT, gambling and gaming, chemicals, construction, transportation, logistics, food and real estate. Piotr led several large-scale structured finance projects, corporate bond issues, and IPOs. He was responsible for the IPO, subsequent de-listing, and final sale of Multimedia Polska, Poland's largest cable player, to Vectra. Piotr has served on management and supervisory boards, including InterCars, Multimedia Polska and ETOTO.

Karol Klin has over 20 years' experience in CEE's commercial real estate sector and comes to Cornerstone Investment Management from Globalworth, where he was Head of Leasing. Before that, Karol used to be responsible for leasing activities at GTC, Skanska Property, and Echo Investment. Karol's professional career encapsulates at various times working for real estate agents such as including JLL and CBRE. Karol is a licensed broker and property manager. He is a member of the Royal Institution of Chartered Surveyors (MRICS) and holds a Certified Commercial Investment Member certificate.

Artur Filipiuk has over 10 years of experience in the commercial real estate sector and comes to Cornerstone Investment Management from Adgar Poland, where he was Operations Director. At Adgar, he was responsible for project management, property management, facility management, and IT in ten office buildings totalling approximately 115,000 sqm. Artur has extensive knowledge of commercial building technologies, construction processes and renovation works, including budgeting, design, obtaining construction and planning permits, organizing tenders, as well as the final execution and project management.

Radovan Pistek joined Cornerstone Investment Management in October 2020 as Venture Partner. Before Cornerstone, Radovan was CFO at Exponea (leading CXDP on the market) responsible for Finance and Business Operations. His main objective was to bring more data-inspired decision-making and radical candor.

Early stages of the career Radovan spent within the B4 consultancy companies. These were followed by almost 10 years in HB Reavis on its incredible journey from a local real estate developer to the biggest European real estate solution company where in a role of General Counsel he was leading 60+ professionals mainly in the field of tax, legal and compliance.

Radovan has an LLM from WU (Vienna University of Economics and Business), an ACCA Diploma in IFRS (DipIFR) and a Master degree in law from Trnava University.

Joanna Folbrier is a Senior Vice President responsible for Finance & Accounting at Cornerstone Investment Management and joined in 2020. Previously Joanna was at Griffin Real Estate. At Cornerstone Investment Management, she is responsible for supervising the current investment portfolio and for planning, preparing, and managing the investment structures and holding companies. Joanna completed studies in international relations at the University of Warsaw and in corporate finance and accounting at the Kozminski University.

Tomasz Pietrzak is a Senior Vice-President at Cornerstone Investment Management responsible for cross-border investments. Before joining Cornerstone Investment Management, Tomasz worked at Morgan Stanley in London in consumer and industrials sector focusing on European M&A transactions and at Penta Investments, a CEE focused private equity firm. At Penta, Tomasz was responsible for the Group’s investments in Iglotex, the largest frozen food producer and distributor in Poland and in Empik, the largest omnichannel retailer and service provider. Tomasz graduated from the Imperial College London, and the University of Sussex.

Maciej, before joining Cornerstone, worked for two years as a Director in Structured Finance team of BNP Paribas Bank Polska and earlier spent twelve years with Santander Bank Polska (BZ WBK).

During his career in banking, he was responsible for origination, structuring and execution of large-cap debt transactions for banks’ key clients (in financial sponsors and large corporates segments), with special focus on acquisition finance and syndicated loans.
Maciej graduated from Warsaw School of Economics in 2004, where he majored in International Economics.

Janusz Madurski joined Cornerstone Investment Management in 2017. As a Vice President he is responsible for executing and monitoring investments. Prior to joining Cornerstone Investment Management, Janusz worked at Rothschild & Co and gained experience from internships at Advent International and J.P. Morgan. Janusz graduated from University of Warwick in the UK.

Tomasz Jemielity joined Cornerstone Investment Management in 2019, where he is responsible for corporate private equity and private equity real estate transactions. Previously, he gained experience at Rothschild & Co and in the M&A department of PwC. Tomasz graduated from Poznan University with a degree in Economics, Management and International Business and ESCP Business School in Paris with a degree in Finance.

Michał Pastor joined Cornerstone Investment Management in 2021, where he is responsible for private equity real estate transactions. Previously, he gained 5 years of experience at CBRE Investment Properties department being responsible for commercial due diligence and transaction management. Michał graduated from Warsaw School of Economics.

Olga Bartosik joined Cornerstone Investment Management in 2020. She was previously associated with Griffin Real where she gained experience in office administration. Olga is responsible for the coordination of meetings and daily management in the office and organizing business travels. Olga graduated from the University of Warsaw with a degree in Geology.

Katarzyna Daśko joined Cornerstone Investment Management in 2020.

Andrzej Cytrycki has 20 years of experience in strategic marketing and communication and for the last nine years he has also owned a marketing agency. Over his career to date, he worked with EPP, the largest retail real estate owner in Poland responsible for new media marketing and  was also part of the team who launched Student Depot, the first private student housing platform in Poland. Andrzej left Student Depot after developing strong brand recognition and high levels of visibility with five dorms in five major cities, and over 2,000 beds. 

Before focusing on the real estate market, Andrzej was focused on marketing for financial institutions including Union Investment, Robeco, BankBGZ.

  • CMS

    PRZEMYSŁAW KRYCH

    Founder

    Przemysław Krych is the founder of Cornerstone Investment Management, one of CEE's leading private equity investment management businesses. He also founded Griffin Real Estate, which is now the largest real estate asset manager in CEE with approximately €5 billion of assets under management.

    Przemysław has deep expertise and experience in both investment, re-structuring and business management and has a demonstrable track record of creating value for investors. He lead the execution of multiple landmark deals in the region.
    Prior to founding Cornerstone Investment Management, Przemysław was a managing director and a manager of the Emerging Europe Private Equity Funds group at Franklin Templeton and prior to that he worked at Bank Handlowy (now Citi Handlowy), where he held number of senior positions including amongst others Chairman of Investment Committee and Member of Management Committee.

    Przemysław graduated with first class honours from the Law Department of Adam Mickiewicz University in Poznań, where he subsequently worked as an assistant lecturer.

  • CMS

    PAWEŁ DĘBOWSKI

    Managing Partner

    Paweł Dębowski is one of the most respected and recognised real estate professionals in Poland and CEE. With over 30 years of expertise, he was involved in numerous strategic real estate investments and developments in Poland.

    He started his career at Arthur Andersen and for the last ten years he worked at Dentons, the largest law firm in the world, as the Chairman of the Real Estate Group, Europe advising institutional investors, developers, lenders, construction companies and major international companies operating in CEE and Western Europe. Paweł was previously Chairman of the management board of GTC S.A. (the largest developer in CEE) where he was responsible for projects across the region including the first commercial, office development in Serbia, institutional developments and sales in Romania and the development of the second phase of Iconic Galeria Mokotów and Galeria Kazimierz.

    Paweł is a member of the Royal Institution of Chartered Surveyors (FRICS).

  • CMS

    DARIUS DIVWALLA

    Managing Partner

    Darius Divwalla has over 20 years' experience in real estate investment. Before joining Cornerstone, he spent 13 years at Chelsfield (property developer, investor, and asset manager) with its headquarters in London and offices in Paris, New York, and throughout Asia and was its Group CIO.

    Prior he worked for Henderson Global Investors (now Nuveen) creating the pan-European Outlet Mall Fund.
    Darius is a member of the Royal Institution of Chartered Surveyors (MRICS), and has a degree from City University in Real Estate and Finance.

  • CMS

    STANISLAV FRNKA

    Managing Partner

    Stanislav joined Cornerstone and was previously at Griffin Real Estate. Before joining Griffin Real Estate, Stanislav was CEO at HB Reavis Poland, having joined in 2006 with responsibility for overall business management and development including supervising acquisitions in the CEE - during this period supervised the securing and development of projects with final GAV of EUR 2 bn.

    Earlier in his career, Stanislav worked at Benefit Finance, a Slovak consulting firm specializing in M&A activity, serving as a financial analyst where he was advising on the re-structuring of €1.4bn of non-performing loans of the Slovak Consolidation Agency  and the National Property Fund of the Slovak Republic.

    Stanislav graduated from City University of Seattle in Trencin, Slovakia in 1999, where he majored in business management.

  • CMS

    ANDRZEJ KLESYK

    Managing Partner

    Andrzej Klesyk is a seasoned executive and is most well renowned as being the longest-serving CEO of PZU, the CEE's largest insurer. Under his leadership, he initiated and supervised PZU’s successful listing on the Warsaw Stock Exchange, which, at the time, was the largest ever in Poland's. Prior to joining PZU, Andrzej was a Founder of Inteligo, the fast-growing internet bank in Poland, which he successfully sold to PKO BP, Poland’s largest banking group. He also served as Partner at both McKinsey and Boston Consulting Group.

    Andrzej's business interests lie in fostering breakthrough ideas, developing new business concepts that increase shareholder and investor value and major transformational projects. He graduated from Harvard Business School with a MBA and currently sits on the European Advisory Board to the School.

  • CMS

    ANDRZEJ ROJEK

    Senior Partner

    Andrzej Rojek emigrated to the USA from Poland in 1981 and upon graduating from Columbia University in New York City began a career in Wall Street. Andrzej worked at Merrill Lynch and Bankers Trust, where he was the partner in charge of the global equity derivatives business and subsequently, he co-founded Lydian Asset Management; a $3billion hedge fund focused on equity derivatives and relative value credit investments. Andrzej has served on numerous corporate and non-profit boards including foundations, educational institutions and charitable organizations. 

    In 2012 Andrzej initiated a campaign, which resulted in posthumously awarding Jan Karski the Presidential Medal of Freedom. He presently serves as the Chair of the Board of Jan Karski Educational Foundation and is involved in managing a broad range of private investments, from data companies to vineyards in Burgundy.

  • CMS

    PRZEMYSŁAW PIKUS

    Partner

    Przemek Pikus has been involved in Poland’s financial markets for over 20 years. His most recent professional prior to joining Cornerstone Investment Management was as a Managing Director at Santander in the Corporate & Investment Banking group. At Santander, he was responsible for the origination and successful execution of many of Santander’s key transactions and major restructurings in Poland  and the coordination of trade finance and M&A activities for selected clients. Earlier in his career, he spent eight years with Citibank Poland.

  • CMS

    GRZEGORZ SADOWSKI

    Partner & CFO

    Grzegorz Sadowski joined Cornerstone Investment Management in 2019. Grzegorz started his professional career at Pia Piasecki, a construction company and then worked for PwC as an audit and tax consultant as well as financial manager at Avon Cosmetics Poland and Ferrero Poland. During eight years at Agros Nova he held the position of Vice President and CFO. At Cornerstone Investment Management he is responsible for banking relationships, risk management, restructuring projects as well as managing the company’s operational and financial activities.

  • CMS

    PAWEŁ WOŁKANOWICZ

    Partner, General Counsel & Chief Compliance Officer

    Paweł Wołkanowicz heads the legal department of Cornerstone Investment Management and specialises in real estate law having joined in 2020. He was previously at Griffin Real Estate for 14 years. He graduated from the Faculty of Law and Administration of the Maria Curie Skłodowska University in Lublin and the Property Valuation College of the Warsaw School of Management.

  • CMS

    PIOTR ZAJĄCZKOWSKI

    Partner

    Piotr Zajączkowski has over 20 years of experience in private equity, management, and M&A. He has extensive business modelling and valuation experience with expertise across a broad range of industries, including TMT, gambling and gaming, chemicals, construction, transportation, logistics, food and real estate. Piotr led several large-scale structured finance projects, corporate bond issues, and IPOs. He was responsible for the IPO, subsequent de-listing, and final sale of Multimedia Polska, Poland's largest cable player, to Vectra. Piotr has served on management and supervisory boards, including InterCars, Multimedia Polska and ETOTO.

  • CMS

    KAROL KLIN

    Venture Partner, CCO 5th Corner

    Karol Klin has over 20 years' experience in CEE's commercial real estate sector and comes to Cornerstone Investment Management from Globalworth, where he was Head of Leasing. Before that, Karol used to be responsible for leasing activities at GTC, Skanska Property, and Echo Investment. Karol's professional career encapsulates at various times working for real estate agents such as including JLL and CBRE. Karol is a licensed broker and property manager. He is a member of the Royal Institution of Chartered Surveyors (MRICS) and holds a Certified Commercial Investment Member certificate.

  • CMS

    ARTUR FILIPIUK

    Venture Partner, COO 5th Corner

    Artur Filipiuk has over 10 years of experience in the commercial real estate sector and comes to Cornerstone Investment Management from Adgar Poland, where he was Operations Director. At Adgar, he was responsible for project management, property management, facility management, and IT in ten office buildings totalling approximately 115,000 sqm. Artur has extensive knowledge of commercial building technologies, construction processes and renovation works, including budgeting, design, obtaining construction and planning permits, organizing tenders, as well as the final execution and project management.

  • CMS

    Radovan Pistek

    Venture Partner

    Radovan Pistek joined Cornerstone Investment Management in October 2020 as Venture Partner. Before Cornerstone, Radovan was CFO at Exponea (leading CXDP on the market) responsible for Finance and Business Operations. His main objective was to bring more data-inspired decision-making and radical candor.

    Early stages of the career Radovan spent within the B4 consultancy companies. These were followed by almost 10 years in HB Reavis on its incredible journey from a local real estate developer to the biggest European real estate solution company where in a role of General Counsel he was leading 60+ professionals mainly in the field of tax, legal and compliance.

    Radovan has an LLM from WU (Vienna University of Economics and Business), an ACCA Diploma in IFRS (DipIFR) and a Master degree in law from Trnava University.

  • CMS

    JOANNA FOLBRIER

    Senior Vice President

    Joanna Folbrier is a Senior Vice President responsible for Finance & Accounting at Cornerstone Investment Management and joined in 2020. Previously Joanna was at Griffin Real Estate. At Cornerstone Investment Management, she is responsible for supervising the current investment portfolio and for planning, preparing, and managing the investment structures and holding companies. Joanna completed studies in international relations at the University of Warsaw and in corporate finance and accounting at the Kozminski University.

  • CMS

    TOMASZ PIETRZAK

    Senior Vice President

    Tomasz Pietrzak is a Senior Vice-President at Cornerstone Investment Management responsible for cross-border investments. Before joining Cornerstone Investment Management, Tomasz worked at Morgan Stanley in London in consumer and industrials sector focusing on European M&A transactions and at Penta Investments, a CEE focused private equity firm. At Penta, Tomasz was responsible for the Group’s investments in Iglotex, the largest frozen food producer and distributor in Poland and in Empik, the largest omnichannel retailer and service provider. Tomasz graduated from the Imperial College London, and the University of Sussex.

  • CMS

    MACIEJ SKORUPKA

    Senior Vice President

    Maciej, before joining Cornerstone, worked for two years as a Director in Structured Finance team of BNP Paribas Bank Polska and earlier spent twelve years with Santander Bank Polska (BZ WBK).

    During his career in banking, he was responsible for origination, structuring and execution of large-cap debt transactions for banks’ key clients (in financial sponsors and large corporates segments), with special focus on acquisition finance and syndicated loans.
    Maciej graduated from Warsaw School of Economics in 2004, where he majored in International Economics.

  • CMS

    JANUSZ MADURSKI

    Vice President

    Janusz Madurski joined Cornerstone Investment Management in 2017. As a Vice President he is responsible for executing and monitoring investments. Prior to joining Cornerstone Investment Management, Janusz worked at Rothschild & Co and gained experience from internships at Advent International and J.P. Morgan. Janusz graduated from University of Warwick in the UK.

  • CMS

    TOMASZ JEMIELITY

    Associate

    Tomasz Jemielity joined Cornerstone Investment Management in 2019, where he is responsible for corporate private equity and private equity real estate transactions. Previously, he gained experience at Rothschild & Co and in the M&A department of PwC. Tomasz graduated from Poznan University with a degree in Economics, Management and International Business and ESCP Business School in Paris with a degree in Finance.

  • CMS

    Michał Pastor

    Associate

    Michał Pastor joined Cornerstone Investment Management in 2021, where he is responsible for private equity real estate transactions. Previously, he gained 5 years of experience at CBRE Investment Properties department being responsible for commercial due diligence and transaction management. Michał graduated from Warsaw School of Economics.

  • CMS

    OLGA BARTOSIK

    Office Manager

    Olga Bartosik joined Cornerstone Investment Management in 2020. She was previously associated with Griffin Real where she gained experience in office administration. Olga is responsible for the coordination of meetings and daily management in the office and organizing business travels. Olga graduated from the University of Warsaw with a degree in Geology.

  • CMS

    KATARZYNA DAŚKO

    Executive Assistant

    Katarzyna Daśko joined Cornerstone Investment Management in 2020.

  • CMS

    ANDRZEJ CYTRYCKI

    Public relations

    Andrzej Cytrycki has 20 years of experience in strategic marketing and communication and for the last nine years he has also owned a marketing agency. Over his career to date, he worked with EPP, the largest retail real estate owner in Poland responsible for new media marketing and  was also part of the team who launched Student Depot, the first private student housing platform in Poland. Andrzej left Student Depot after developing strong brand recognition and high levels of visibility with five dorms in five major cities, and over 2,000 beds. 

    Before focusing on the real estate market, Andrzej was focused on marketing for financial institutions including Union Investment, Robeco, BankBGZ.

Przemysław Krych is the founder of Cornerstone Investment Management, one of CEE's leading private equity investment management businesses. He also founded Griffin Real Estate, which is now the largest real estate asset manager in CEE with approximately €5 billion of assets under management.

Przemysław has deep expertise and experience in both investment, re-structuring and business management and has a demonstrable track record of creating value for investors. He lead the execution of multiple landmark deals in the region.
Prior to founding Cornerstone Investment Management, Przemysław was a managing director and a manager of the Emerging Europe Private Equity Funds group at Franklin Templeton and prior to that he worked at Bank Handlowy (now Citi Handlowy), where he held number of senior positions including amongst others Chairman of Investment Committee and Member of Management Committee.

Przemysław graduated with first class honours from the Law Department of Adam Mickiewicz University in Poznań, where he subsequently worked as an assistant lecturer.

Paweł Dębowski is one of the most respected and recognised real estate professionals in Poland and CEE. With over 30 years of expertise, he was involved in numerous strategic real estate investments and developments in Poland.

He started his career at Arthur Andersen and for the last ten years he worked at Dentons, the largest law firm in the world, as the Chairman of the Real Estate Group, Europe advising institutional investors, developers, lenders, construction companies and major international companies operating in CEE and Western Europe. Paweł was previously Chairman of the management board of GTC S.A. (the largest developer in CEE) where he was responsible for projects across the region including the first commercial, office development in Serbia, institutional developments and sales in Romania and the development of the second phase of Iconic Galeria Mokotów and Galeria Kazimierz.

Paweł is a member of the Royal Institution of Chartered Surveyors (FRICS).

Darius Divwalla has over 20 years' experience in real estate investment. Before joining Cornerstone, he spent 13 years at Chelsfield (property developer, investor, and asset manager) with its headquarters in London and offices in Paris, New York, and throughout Asia and was its Group CIO.

Prior he worked for Henderson Global Investors (now Nuveen) creating the pan-European Outlet Mall Fund.
Darius is a member of the Royal Institution of Chartered Surveyors (MRICS), and has a degree from City University in Real Estate and Finance.

Stanislav joined Cornerstone and was previously at Griffin Real Estate. Before joining Griffin Real Estate, Stanislav was CEO at HB Reavis Poland, having joined in 2006 with responsibility for overall business management and development including supervising acquisitions in the CEE - during this period supervised the securing and development of projects with final GAV of EUR 2 bn.

Earlier in his career, Stanislav worked at Benefit Finance, a Slovak consulting firm specializing in M&A activity, serving as a financial analyst where he was advising on the re-structuring of €1.4bn of non-performing loans of the Slovak Consolidation Agency  and the National Property Fund of the Slovak Republic.

Stanislav graduated from City University of Seattle in Trencin, Slovakia in 1999, where he majored in business management.

Andrzej Klesyk is a seasoned executive and is most well renowned as being the longest-serving CEO of PZU, the CEE's largest insurer. Under his leadership, he initiated and supervised PZU’s successful listing on the Warsaw Stock Exchange, which, at the time, was the largest ever in Poland's. Prior to joining PZU, Andrzej was a Founder of Inteligo, the fast-growing internet bank in Poland, which he successfully sold to PKO BP, Poland’s largest banking group. He also served as Partner at both McKinsey and Boston Consulting Group.

Andrzej's business interests lie in fostering breakthrough ideas, developing new business concepts that increase shareholder and investor value and major transformational projects. He graduated from Harvard Business School with a MBA and currently sits on the European Advisory Board to the School.

Andrzej Rojek emigrated to the USA from Poland in 1981 and upon graduating from Columbia University in New York City began a career in Wall Street. Andrzej worked at Merrill Lynch and Bankers Trust, where he was the partner in charge of the global equity derivatives business and subsequently, he co-founded Lydian Asset Management; a $3billion hedge fund focused on equity derivatives and relative value credit investments. Andrzej has served on numerous corporate and non-profit boards including foundations, educational institutions and charitable organizations. 

In 2012 Andrzej initiated a campaign, which resulted in posthumously awarding Jan Karski the Presidential Medal of Freedom. He presently serves as the Chair of the Board of Jan Karski Educational Foundation and is involved in managing a broad range of private investments, from data companies to vineyards in Burgundy.

Przemek Pikus has been involved in Poland’s financial markets for over 20 years. His most recent professional prior to joining Cornerstone Investment Management was as a Managing Director at Santander in the Corporate & Investment Banking group. At Santander, he was responsible for the origination and successful execution of many of Santander’s key transactions and major restructurings in Poland  and the coordination of trade finance and M&A activities for selected clients. Earlier in his career, he spent eight years with Citibank Poland.

Grzegorz Sadowski joined Cornerstone Investment Management in 2019. Grzegorz started his professional career at Pia Piasecki, a construction company and then worked for PwC as an audit and tax consultant as well as financial manager at Avon Cosmetics Poland and Ferrero Poland. During eight years at Agros Nova he held the position of Vice President and CFO. At Cornerstone Investment Management he is responsible for banking relationships, risk management, restructuring projects as well as managing the company’s operational and financial activities.

Paweł Wołkanowicz heads the legal department of Cornerstone Investment Management and specialises in real estate law having joined in 2020. He was previously at Griffin Real Estate for 14 years. He graduated from the Faculty of Law and Administration of the Maria Curie Skłodowska University in Lublin and the Property Valuation College of the Warsaw School of Management.

Piotr Zajączkowski has over 20 years of experience in private equity, management, and M&A. He has extensive business modelling and valuation experience with expertise across a broad range of industries, including TMT, gambling and gaming, chemicals, construction, transportation, logistics, food and real estate. Piotr led several large-scale structured finance projects, corporate bond issues, and IPOs. He was responsible for the IPO, subsequent de-listing, and final sale of Multimedia Polska, Poland's largest cable player, to Vectra. Piotr has served on management and supervisory boards, including InterCars, Multimedia Polska and ETOTO.

Karol Klin has over 20 years' experience in CEE's commercial real estate sector and comes to Cornerstone Investment Management from Globalworth, where he was Head of Leasing. Before that, Karol used to be responsible for leasing activities at GTC, Skanska Property, and Echo Investment. Karol's professional career encapsulates at various times working for real estate agents such as including JLL and CBRE. Karol is a licensed broker and property manager. He is a member of the Royal Institution of Chartered Surveyors (MRICS) and holds a Certified Commercial Investment Member certificate.

Artur Filipiuk has over 10 years of experience in the commercial real estate sector and comes to Cornerstone Investment Management from Adgar Poland, where he was Operations Director. At Adgar, he was responsible for project management, property management, facility management, and IT in ten office buildings totalling approximately 115,000 sqm. Artur has extensive knowledge of commercial building technologies, construction processes and renovation works, including budgeting, design, obtaining construction and planning permits, organizing tenders, as well as the final execution and project management.

Radovan Pistek joined Cornerstone Investment Management in October 2020 as Venture Partner. Before Cornerstone, Radovan was CFO at Exponea (leading CXDP on the market) responsible for Finance and Business Operations. His main objective was to bring more data-inspired decision-making and radical candor.

Early stages of the career Radovan spent within the B4 consultancy companies. These were followed by almost 10 years in HB Reavis on its incredible journey from a local real estate developer to the biggest European real estate solution company where in a role of General Counsel he was leading 60+ professionals mainly in the field of tax, legal and compliance.

Radovan has an LLM from WU (Vienna University of Economics and Business), an ACCA Diploma in IFRS (DipIFR) and a Master degree in law from Trnava University.

Joanna Folbrier is a Senior Vice President responsible for Finance & Accounting at Cornerstone Investment Management and joined in 2020. Previously Joanna was at Griffin Real Estate. At Cornerstone Investment Management, she is responsible for supervising the current investment portfolio and for planning, preparing, and managing the investment structures and holding companies. Joanna completed studies in international relations at the University of Warsaw and in corporate finance and accounting at the Kozminski University.

Tomasz Pietrzak is a Senior Vice-President at Cornerstone Investment Management responsible for cross-border investments. Before joining Cornerstone Investment Management, Tomasz worked at Morgan Stanley in London in consumer and industrials sector focusing on European M&A transactions and at Penta Investments, a CEE focused private equity firm. At Penta, Tomasz was responsible for the Group’s investments in Iglotex, the largest frozen food producer and distributor in Poland and in Empik, the largest omnichannel retailer and service provider. Tomasz graduated from the Imperial College London, and the University of Sussex.

Maciej, before joining Cornerstone, worked for two years as a Director in Structured Finance team of BNP Paribas Bank Polska and earlier spent twelve years with Santander Bank Polska (BZ WBK).

During his career in banking, he was responsible for origination, structuring and execution of large-cap debt transactions for banks’ key clients (in financial sponsors and large corporates segments), with special focus on acquisition finance and syndicated loans.
Maciej graduated from Warsaw School of Economics in 2004, where he majored in International Economics.

Janusz Madurski joined Cornerstone Investment Management in 2017. As a Vice President he is responsible for executing and monitoring investments. Prior to joining Cornerstone Investment Management, Janusz worked at Rothschild & Co and gained experience from internships at Advent International and J.P. Morgan. Janusz graduated from University of Warwick in the UK.

Tomasz Jemielity joined Cornerstone Investment Management in 2019, where he is responsible for corporate private equity and private equity real estate transactions. Previously, he gained experience at Rothschild & Co and in the M&A department of PwC. Tomasz graduated from Poznan University with a degree in Economics, Management and International Business and ESCP Business School in Paris with a degree in Finance.

Michał Pastor joined Cornerstone Investment Management in 2021, where he is responsible for private equity real estate transactions. Previously, he gained 5 years of experience at CBRE Investment Properties department being responsible for commercial due diligence and transaction management. Michał graduated from Warsaw School of Economics.

Olga Bartosik joined Cornerstone Investment Management in 2020. She was previously associated with Griffin Real where she gained experience in office administration. Olga is responsible for the coordination of meetings and daily management in the office and organizing business travels. Olga graduated from the University of Warsaw with a degree in Geology.

Katarzyna Daśko joined Cornerstone Investment Management in 2020.

Andrzej Cytrycki has 20 years of experience in strategic marketing and communication and for the last nine years he has also owned a marketing agency. Over his career to date, he worked with EPP, the largest retail real estate owner in Poland responsible for new media marketing and  was also part of the team who launched Student Depot, the first private student housing platform in Poland. Andrzej left Student Depot after developing strong brand recognition and high levels of visibility with five dorms in five major cities, and over 2,000 beds. 

Before focusing on the real estate market, Andrzej was focused on marketing for financial institutions including Union Investment, Robeco, BankBGZ.

  • CMS

    PRZEMYSŁAW KRYCH

    Founder

    Przemysław Krych is the founder of Cornerstone Investment Management, one of CEE's leading private equity investment management businesses. He also founded Griffin Real Estate, which is now the largest real estate asset manager in CEE with approximately €5 billion of assets under management.

    Przemysław has deep expertise and experience in both investment, re-structuring and business management and has a demonstrable track record of creating value for investors. He lead the execution of multiple landmark deals in the region.
    Prior to founding Cornerstone Investment Management, Przemysław was a managing director and a manager of the Emerging Europe Private Equity Funds group at Franklin Templeton and prior to that he worked at Bank Handlowy (now Citi Handlowy), where he held number of senior positions including amongst others Chairman of Investment Committee and Member of Management Committee.

    Przemysław graduated with first class honours from the Law Department of Adam Mickiewicz University in Poznań, where he subsequently worked as an assistant lecturer.

  • CMS

    PAWEŁ DĘBOWSKI

    Managing Partner

    Paweł Dębowski is one of the most respected and recognised real estate professionals in Poland and CEE. With over 30 years of expertise, he was involved in numerous strategic real estate investments and developments in Poland.

    He started his career at Arthur Andersen and for the last ten years he worked at Dentons, the largest law firm in the world, as the Chairman of the Real Estate Group, Europe advising institutional investors, developers, lenders, construction companies and major international companies operating in CEE and Western Europe. Paweł was previously Chairman of the management board of GTC S.A. (the largest developer in CEE) where he was responsible for projects across the region including the first commercial, office development in Serbia, institutional developments and sales in Romania and the development of the second phase of Iconic Galeria Mokotów and Galeria Kazimierz.

    Paweł is a member of the Royal Institution of Chartered Surveyors (FRICS).

  • CMS

    DARIUS DIVWALLA

    Managing Partner

    Darius Divwalla has over 20 years' experience in real estate investment. Before joining Cornerstone, he spent 13 years at Chelsfield (property developer, investor, and asset manager) with its headquarters in London and offices in Paris, New York, and throughout Asia and was its Group CIO.

    Prior he worked for Henderson Global Investors (now Nuveen) creating the pan-European Outlet Mall Fund.
    Darius is a member of the Royal Institution of Chartered Surveyors (MRICS), and has a degree from City University in Real Estate and Finance.

  • CMS

    STANISLAV FRNKA

    Managing Partner

    Stanislav joined Cornerstone and was previously at Griffin Real Estate. Before joining Griffin Real Estate, Stanislav was CEO at HB Reavis Poland, having joined in 2006 with responsibility for overall business management and development including supervising acquisitions in the CEE - during this period supervised the securing and development of projects with final GAV of EUR 2 bn.

    Earlier in his career, Stanislav worked at Benefit Finance, a Slovak consulting firm specializing in M&A activity, serving as a financial analyst where he was advising on the re-structuring of €1.4bn of non-performing loans of the Slovak Consolidation Agency  and the National Property Fund of the Slovak Republic.

    Stanislav graduated from City University of Seattle in Trencin, Slovakia in 1999, where he majored in business management.

  • CMS

    ANDRZEJ KLESYK

    Managing Partner

    Andrzej Klesyk is a seasoned executive and is most well renowned as being the longest-serving CEO of PZU, the CEE's largest insurer. Under his leadership, he initiated and supervised PZU’s successful listing on the Warsaw Stock Exchange, which, at the time, was the largest ever in Poland's. Prior to joining PZU, Andrzej was a Founder of Inteligo, the fast-growing internet bank in Poland, which he successfully sold to PKO BP, Poland’s largest banking group. He also served as Partner at both McKinsey and Boston Consulting Group.

    Andrzej's business interests lie in fostering breakthrough ideas, developing new business concepts that increase shareholder and investor value and major transformational projects. He graduated from Harvard Business School with a MBA and currently sits on the European Advisory Board to the School.

  • CMS

    ANDRZEJ ROJEK

    Senior Partner

    Andrzej Rojek emigrated to the USA from Poland in 1981 and upon graduating from Columbia University in New York City began a career in Wall Street. Andrzej worked at Merrill Lynch and Bankers Trust, where he was the partner in charge of the global equity derivatives business and subsequently, he co-founded Lydian Asset Management; a $3billion hedge fund focused on equity derivatives and relative value credit investments. Andrzej has served on numerous corporate and non-profit boards including foundations, educational institutions and charitable organizations. 

    In 2012 Andrzej initiated a campaign, which resulted in posthumously awarding Jan Karski the Presidential Medal of Freedom. He presently serves as the Chair of the Board of Jan Karski Educational Foundation and is involved in managing a broad range of private investments, from data companies to vineyards in Burgundy.

  • CMS

    PRZEMYSŁAW PIKUS

    Partner

    Przemek Pikus has been involved in Poland’s financial markets for over 20 years. His most recent professional prior to joining Cornerstone Investment Management was as a Managing Director at Santander in the Corporate & Investment Banking group. At Santander, he was responsible for the origination and successful execution of many of Santander’s key transactions and major restructurings in Poland  and the coordination of trade finance and M&A activities for selected clients. Earlier in his career, he spent eight years with Citibank Poland.

  • CMS

    GRZEGORZ SADOWSKI

    Partner & CFO

    Grzegorz Sadowski joined Cornerstone Investment Management in 2019. Grzegorz started his professional career at Pia Piasecki, a construction company and then worked for PwC as an audit and tax consultant as well as financial manager at Avon Cosmetics Poland and Ferrero Poland. During eight years at Agros Nova he held the position of Vice President and CFO. At Cornerstone Investment Management he is responsible for banking relationships, risk management, restructuring projects as well as managing the company’s operational and financial activities.

  • CMS

    PAWEŁ WOŁKANOWICZ

    Partner, General Counsel & Chief Compliance Officer

    Paweł Wołkanowicz heads the legal department of Cornerstone Investment Management and specialises in real estate law having joined in 2020. He was previously at Griffin Real Estate for 14 years. He graduated from the Faculty of Law and Administration of the Maria Curie Skłodowska University in Lublin and the Property Valuation College of the Warsaw School of Management.

  • CMS

    PIOTR ZAJĄCZKOWSKI

    Partner

    Piotr Zajączkowski has over 20 years of experience in private equity, management, and M&A. He has extensive business modelling and valuation experience with expertise across a broad range of industries, including TMT, gambling and gaming, chemicals, construction, transportation, logistics, food and real estate. Piotr led several large-scale structured finance projects, corporate bond issues, and IPOs. He was responsible for the IPO, subsequent de-listing, and final sale of Multimedia Polska, Poland's largest cable player, to Vectra. Piotr has served on management and supervisory boards, including InterCars, Multimedia Polska and ETOTO.

  • CMS

    KAROL KLIN

    Venture Partner, CCO 5th Corner

    Karol Klin has over 20 years' experience in CEE's commercial real estate sector and comes to Cornerstone Investment Management from Globalworth, where he was Head of Leasing. Before that, Karol used to be responsible for leasing activities at GTC, Skanska Property, and Echo Investment. Karol's professional career encapsulates at various times working for real estate agents such as including JLL and CBRE. Karol is a licensed broker and property manager. He is a member of the Royal Institution of Chartered Surveyors (MRICS) and holds a Certified Commercial Investment Member certificate.

  • CMS

    ARTUR FILIPIUK

    Venture Partner, COO 5th Corner

    Artur Filipiuk has over 10 years of experience in the commercial real estate sector and comes to Cornerstone Investment Management from Adgar Poland, where he was Operations Director. At Adgar, he was responsible for project management, property management, facility management, and IT in ten office buildings totalling approximately 115,000 sqm. Artur has extensive knowledge of commercial building technologies, construction processes and renovation works, including budgeting, design, obtaining construction and planning permits, organizing tenders, as well as the final execution and project management.

  • CMS

    Radovan Pistek

    Venture Partner

    Radovan Pistek joined Cornerstone Investment Management in October 2020 as Venture Partner. Before Cornerstone, Radovan was CFO at Exponea (leading CXDP on the market) responsible for Finance and Business Operations. His main objective was to bring more data-inspired decision-making and radical candor.

    Early stages of the career Radovan spent within the B4 consultancy companies. These were followed by almost 10 years in HB Reavis on its incredible journey from a local real estate developer to the biggest European real estate solution company where in a role of General Counsel he was leading 60+ professionals mainly in the field of tax, legal and compliance.

    Radovan has an LLM from WU (Vienna University of Economics and Business), an ACCA Diploma in IFRS (DipIFR) and a Master degree in law from Trnava University.

  • CMS

    JOANNA FOLBRIER

    Senior Vice President

    Joanna Folbrier is a Senior Vice President responsible for Finance & Accounting at Cornerstone Investment Management and joined in 2020. Previously Joanna was at Griffin Real Estate. At Cornerstone Investment Management, she is responsible for supervising the current investment portfolio and for planning, preparing, and managing the investment structures and holding companies. Joanna completed studies in international relations at the University of Warsaw and in corporate finance and accounting at the Kozminski University.

  • CMS

    TOMASZ PIETRZAK

    Senior Vice President

    Tomasz Pietrzak is a Senior Vice-President at Cornerstone Investment Management responsible for cross-border investments. Before joining Cornerstone Investment Management, Tomasz worked at Morgan Stanley in London in consumer and industrials sector focusing on European M&A transactions and at Penta Investments, a CEE focused private equity firm. At Penta, Tomasz was responsible for the Group’s investments in Iglotex, the largest frozen food producer and distributor in Poland and in Empik, the largest omnichannel retailer and service provider. Tomasz graduated from the Imperial College London, and the University of Sussex.

  • CMS

    MACIEJ SKORUPKA

    Senior Vice President

    Maciej, before joining Cornerstone, worked for two years as a Director in Structured Finance team of BNP Paribas Bank Polska and earlier spent twelve years with Santander Bank Polska (BZ WBK).

    During his career in banking, he was responsible for origination, structuring and execution of large-cap debt transactions for banks’ key clients (in financial sponsors and large corporates segments), with special focus on acquisition finance and syndicated loans.
    Maciej graduated from Warsaw School of Economics in 2004, where he majored in International Economics.

  • CMS

    JANUSZ MADURSKI

    Vice President

    Janusz Madurski joined Cornerstone Investment Management in 2017. As a Vice President he is responsible for executing and monitoring investments. Prior to joining Cornerstone Investment Management, Janusz worked at Rothschild & Co and gained experience from internships at Advent International and J.P. Morgan. Janusz graduated from University of Warwick in the UK.

  • CMS

    TOMASZ JEMIELITY

    Associate

    Tomasz Jemielity joined Cornerstone Investment Management in 2019, where he is responsible for corporate private equity and private equity real estate transactions. Previously, he gained experience at Rothschild & Co and in the M&A department of PwC. Tomasz graduated from Poznan University with a degree in Economics, Management and International Business and ESCP Business School in Paris with a degree in Finance.

  • CMS

    Michał Pastor

    Associate

    Michał Pastor joined Cornerstone Investment Management in 2021, where he is responsible for private equity real estate transactions. Previously, he gained 5 years of experience at CBRE Investment Properties department being responsible for commercial due diligence and transaction management. Michał graduated from Warsaw School of Economics.

  • CMS

    OLGA BARTOSIK

    Office Manager

    Olga Bartosik joined Cornerstone Investment Management in 2020. She was previously associated with Griffin Real where she gained experience in office administration. Olga is responsible for the coordination of meetings and daily management in the office and organizing business travels. Olga graduated from the University of Warsaw with a degree in Geology.

  • CMS

    KATARZYNA DAŚKO

    Executive Assistant

    Katarzyna Daśko joined Cornerstone Investment Management in 2020.

  • CMS

    ANDRZEJ CYTRYCKI

    Public relations

    Andrzej Cytrycki has 20 years of experience in strategic marketing and communication and for the last nine years he has also owned a marketing agency. Over his career to date, he worked with EPP, the largest retail real estate owner in Poland responsible for new media marketing and  was also part of the team who launched Student Depot, the first private student housing platform in Poland. Andrzej left Student Depot after developing strong brand recognition and high levels of visibility with five dorms in five major cities, and over 2,000 beds. 

    Before focusing on the real estate market, Andrzej was focused on marketing for financial institutions including Union Investment, Robeco, BankBGZ.