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ARETE Launches New Fund Focused on Flexible Energy Targeting CZK 5 Billion and an Annual Return of 11–12%

Prague, May 20, 2025 | Central European asset manager ARETE has launched a new investment fund, ARETE ENERGY TRANSITION, focused on strategic investments in flexible energy sources — a key pillar of the transformation of the European energy market. The fund will primarily invest in flexible electricity and heat generation based on natural gas, with additional allocations to battery storage systems and renewable energy projects, especially across Central and Western European markets. Over the next four years, the ARETE ENERGY TRANSITION fund plans to invest CZK 5 billion, targeting an annual return of 11–12%.

“Energy flexibility is becoming absolutely critical for stable energy delivery, especially as Europe rapidly expands its renewable energy capacity,” said Martin Pacovský, Chief Investment Officer of ARETE Energy Transition. “We want to offer investors the opportunity to participate in the growth of a sector that will be essential to Europe’s future energy security and decarbonization goals,” he added.
Investment activities will focus primarily on the Czech Republic, Slovakia, Poland, Germany, and Italy.

First project

The fund’s first potential acquisition is a combined heat and power plant in Poland. With an installed capacity of 6 MW, the facility supplies electricity and heat to more than 5,000 customers. Thanks to modern technology, it enables highly flexible electricity production during peak pricing periods. “This project perfectly illustrates the type of assets we aim to develop further. The combination of flexible generation and stable, regulated revenues is the core of our strategy,” added Pacovský.

In total, the fund plans to invest approximately CZK 5 billion into energy projects over four years.

Target Returns and Investment Horizon

The fund will utilize conservative bank financing, targeting an annual return of 11–12%. The minimum investment horizon is four years, with investment shares available in Czech koruna or euros. The fund is open to qualified investors, with share classes ranging from CZK 1 million, or EUR 50,000.

For more information, please contact:
Martin Moc, PR Consultant
Tel: +420 724 724 280
Email:
moc@prmoc.net

About ARETE:

ARETE Group has been a professional asset manager since 2014, delivering tailored investment solutions to institutional and qualified investors through two distinct strategies focused on real estate and the energy transition. The foundation of ARETE’s investment approach lies in the disciplined structuring and management of investment cycles across all assets and products. The Group’s strong track record includes two closed-ended investment funds, both fully exited with above-market returns. ARETE currently manages the ARETE INDUSTRIAL fund, which targets high-quality industrial real estate investments, and the recently launched ARETE ENERGY TRANSITION fund, focused primarily on investments in flexible energy sources. Both funds are open exclusively to qualified investors. For more information, visit www.arete.eu.

Josef Vojta

Josef joined ARETE in 2019. As Distributions Director, he oversees the development of a portfolio of distributors as well as qualified investors of the Group's funds in the Czech Republic and the CEE region. Josef has more than 18 years of professional experience in real estate and investments in the CEE region. Before joining ARETE, he was Managing Partner at Licehamr Partners Group and previously served as Executive Director at Licehamr Development. He is actively engaged in publishing and academic activities. Josef holds a PhD from the University of Economics in Prague.

 

Martin Pacovsky

Is the Chief Investment Officer at ARETE for our energy transition strategy, with extensive experience in managing and developing energy assets, focused on advancing carbon-neutral strategies. With a strong track record in strategic planning and international market expansion, Martin has successfully led organizations through complex M&A processes, including guiding Pražská Plynárenská a.s. through the 2022 energy crisis as Chairman of the Board. His expertise encompasses risk management and stakeholder engagement.

Previously, Martin held senior roles at ČEZ Group, where he contributed significantly to renewable energy projects and international growth, such as overseeing the construction of Romania's largest onshore wind farm.

Martin holds an MSc from the University of Economics in Prague and an MBA from the Rochester Institute of Technology.

 

Martin Konecny

Serves as the company’s CFO, bringing a robust background in finance and economics, with extensive international experience. At ARETE, Martin is responsible for reporting and controlling on corporate and fund level for all entities in the Czech Republic, Poland and Slovakia.

Martin has over 30 years of experience, and a proven track record in corporate finance, operations, M&A, and portfolio management. Before joining ARETE, Martin served as a Group Head of Risks and Operations at P3 Logistics Parks, a logistics real estate investment manager with more than 3 billion AuM. His career includes 4 years as Country CFO at Citi Czech Republic and 15 years at KPMG, overseeing audits and compliance investigations.

Martin holds a Master’s degree in Economics, Finance and Trade from the Prague University of Economics and Business as well as an Executive MBA from the University of Bristol.

Robert Ides

Robert Ides, Co-Founder, is the Managing Partner of Arete Group. He was part of the founding team in 2014 and has over 25 years of advisory experience. He oversees company strategy, both real estate and energy infrastructure asset classes. Under his leadership, the company has successfully divested two real estate funds, delivering outstanding returns to its clients. Prior to founding the company, Robert held several leadership positions focusing on complex international mergers, acquisitions, and strategic projects. Among others, he served in executive roles at AIG and Zurich Insurance Group.

Robert is an experienced M&A professional and studied in Prague.

 

Miroslav Barnas

is the Chief Investment Officer at ARETE for our real estate strategy. He set up the investment management team and oversees deal sourcing, investment management and execution for the ARETE INDUSTRIAL FUND.

With over 20 years of professional track record in commercial and residential real estate, Miroslav is a seasoned executive with experience in advising corporate clients and private individuals on investment, valuation, leasing, negotiations, construction, and facility management of commercial properties in the Czech Republic and Slovakia. Miroslav has led major transactions exceeding €1 billion. His leadership roles include CEO and Head of Capital Markets at Jones Lang LaSalle.

Miroslav is an MRICS professional and holds a Master’s degree from the University of Economics in Bratislava.

Alica Koblovska

Serves as the Chief Legal Officer at ARETE, bringing over a decade of extensive legal expertise in corporate finance, M&A, and compliance. She oversees the entire legal agenda of ARETE and acts as a key strategic advisor, overseeing compliance for our complex fund structures.

Alica has held significant legal roles, including the position of General Counsel at Bakala Capital, where she managed legal affairs for Zdenek Bakala, a leading family office. Before this, she worked as a layer with Kocian Solc Balastik in Prague.

Alica holds a Master’s degree in Law from Masaryk University in Brno with international exposure at Paul Cezanne University.

 

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    Lubor Svoboda

    Lubor has 25 years of experience leading real estate and private equity companies as a CEO, managing successful business transactions and legal restructurings in financial and highly regulated environments. Over the past ten years, Lubor has focused on fund management and strategic planning. He holds a Master’s degree in Law from Masaryk University in Brno and an MBA from the Prague International Business School.