This optimism exists even though only 24% of surveyed professionals expect economic growth in Romania this year, a significant drop from the 73% who held that view in 2024.

The study, which included responses from over 80% of PE funds active in Romania, reveals that while 2024 saw a slight decrease in acquisitions (9 compared to 13 in 2023) and an increase in exits (11, up from 7 in 2023), Romania remains a key player in CEE. Including add-on acquisitions, Romania was the second most active PE market in the CEE in 2024.

"Capital raising was one of the main priorities in 2024, with local and regional funds managing to attract over €2 billion. In this context, it is natural that in 2025 the focus will shift towards making new investments and developing portfolio companies, with add-on acquisitions being among the strategic priorities of the funds this year," stated Szabolcs Nemes, Managing Partner, Roland Berger Romania.

The IT and healthcare sectors are expected to be the primary focus for new investments in 2025. This represents a shift from 2024, when the consumer goods and retail sector was the most dynamic in terms of acquisitions and exits.

The study also highlights an increasing interest in add-on acquisitions and optimizing the efficiency of portfolio companies. Furthermore, AI is gaining traction within the PE industry, both locally and internationally, with funds expecting AI to improve operations.