Makar Paseniuk

Makar Paseniuk’s Biography

Makar Paseniuk is Founding Partner at ICU. He has over two decades’ experience in corporate finance in both local and international markets and is one of the leading investment managers in Central and Eastern Europe.

In his role as Founding Partner at ICU, Makar has led the development of a leading independent asset management, corporate advisory and private equity in Ukraine. Makar has played a pivotal role in building a US$500 million business and completing over US$5 billion transactions in M&A, equity & debt capital markets and debt restructuring.

Makar played a key role in the listing of Industrial Dairy Company on the Warsaw Stock Exchange in May 2011, despite the economic crisis in Ukraine at that time. Some of the landmark transactions that Makar and his team worked on include the takeover of Allseeds Group, the private placement of shares of Telecom operator Data Group; the placement of bonds of banks Credit Agricole, ProCredit Bank, Swedbank; the debt restructuring of industrial enterprises - Azovmash, Donetskstal and Mriya agroholdings

Other notable transactions... Makar Paseniuk is Founding Partner at ICU. He has over two decades’ experience in corporate finance in both local and international markets and is one of the leading investment managers in Central and Eastern Europe.

In his role as Founding Partner at ICU, Makar has led the development of a leading independent asset management, corporate advisory and private equity in Ukraine. Makar has played a pivotal role in building a US$500 million business and completing over US$5 billion transactions in M&A, equity & debt capital markets and debt restructuring.

Makar played a key role in the listing of Industrial Dairy Company on the Warsaw Stock Exchange in May 2011, despite the economic crisis in Ukraine at that time. Some of the landmark transactions that Makar and his team worked on include the takeover of Allseeds Group, the private placement of shares of Telecom operator Data Group; the placement of bonds of banks Credit Agricole, ProCredit Bank, Swedbank; the debt restructuring of industrial enterprises - Azovmash, Donetskstal and Mriya agroholdings

Other notable transactions he has worked on include a restructuring of Ukraine’s external debt of over 2 and a half billion US$ (2000), the first Ukrainian initial public offering on London’ AIM stock exchange (XXI Century Holdings, 2005), the first Ukrainian initial public offering on Warsaw Stock Exchange (Astarta, 2006), the initial public offering of Kernel shares on the Warsaw Stock Exchange in 2007 that won ‘The Best IPO in the CEE region.

Previously, Makar was Managing Director and Head of Corporate Finance at ING where he worked for over a decade in Ukraine and London. He is a CFA Institute Charter Holder and graduated from the International Christian University with a BS in Business Admin more less

Makar Paseniuk’s Newsfeed

Wealth DFM Magazine

Marking one year of war: Ukrainian economic successes and plugging the financing gap

Makar Paseniuk, founding partner of ICU Group, commented on the condition of the Ukrainian economy, which remains relatively resilient despite the invasion of Ukraine by Russian forces a year ago.

Makar Paseniuk’s Background

ICU

Founding Partner

2009 - Present

Kyiv, UA

ICU is an independent asset management, and investment advisory firm specialising in the emerging markets of Central and Eastern Europe. Founded in 2009 by senior investment professionals from ING, ICU is Ukraine's leading asset manager with over $500m in AUM. The group's current strategy includes significant allocations to venture capital, alternative energy and distressed debt

ING

Managing Director & Head of Corporate Finance

1998 - Jul 2009

Kyiv, UA

Makar started working as an equity analyst when he joined ING in 1998, mainly covering the energy sector. He quickly rose to become the head securities management in Kyiv. From 2003 to 2006, Makar worked in the corporate finance department in London where he supervised customer transactions from the CEE region. In 2006, he moved back to Kyiv as MD of ING Bank Ukraine and Head of Corporate Finance.

Makar Paseniuk’s Gallery

Makar Paseniuk speaking at the Ukranian Financial Forum.

Makar Paseniuk speaking to another keynote speaker at the Ukranian Financial Forum.

Makar Paseniuk sitting on the panel at the Ukranian Financial Forum.

Makar Paseniuk at the Ukranian Financial Forum.

Makar Paseniuk speaking on the panel at the Ukranian Financial Forum.

Makar Paseniuk watching the speakers at the Ukranian Financial Forum.

Makar Paseniuk on the panel at the Ukranian Financial Forum.

Other Business Interests

Kyiv School of Economics

Co-Chairman of the Board of Directors

2019 - Present

Kyiv, UA

The graduate school of economics and management in Ukraine was founded in 1996 by the EERC and the Eurasia Foundation. The university offers master's programs in Business and Financial Economics, Economic Analysis. It has an agreement with the University of Houston in the United States which permits it to grant graduates an MA in economics in their name as well.

Centre for Excellence in Economic Journalism

Co-Founder & Strategic Partner

2017 - Present

Kyiv, UA

Created by Kyiv School of Economics, ICU, Visa and VoxUkraine, the Centre for Excellence in Economic Journalism aims to raise the level of economic literacy among Ukrainian journalists and editors of economic publications

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Media

American Chamber of Commerce in Ukraine: ICU

Interviewee

May 2020

Kyiv, UA

Founding Partner of ICU, Makar Paseniuk talks to Andy Hunder, President of AmCham Ukraine regarding leadership during a time of crisis and how to adapt to the new environment.

ICU: Makar Paseniuk

Interviewee

Feb 2020

Kyiv, UA

In an interview with Yuri Bender, Editor-in-chief at Professional Wealth Management, Makar Paseniuk, Founding Partner of ICU discusses investment opportunities in Ukraine and says “investors in emerging markets are beginning to see Ukraine as an interesting macro-economic story.”

Ukrainian Financial Forum

Media Appearance

Sep 2018

Odesa, UA

Watch Makar Paseniuk’s speech during the panel, 'Will Politics Prevent Progress' with speakers from Goldman Sachs, World Bank Group, National Investment Council and Country Manager for Ukraine, IFC.

Ukrainian Financial Forum

Media Appearance

Sep 2017

Odesa, UA

Makar Paseniuk argues that we should be talking about de-leveraging and how to raise equity for the country. As ultimately, Ukraine needs to stimulate the economy to allow it to get better a credit rating which will bring down the cost of debt etc.

Ukrainian Financial Forum

Media Appearance

Sep 2017

Odesa, UA

Makar Paseniuk discusses privatization of key industries esp. in the energy sector and how the state needs to play a key role in implementing structural reforms in order draw foreign investment.

Ukrainian Financial Forum

Media Appearance

Sep 2017

Odesa, UA

Makar Paseniuk discusses privatization measures in Ukraine but believes that priority should be given to attracting equity capital, rather than borrowing.

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Interviews

ICU determined to keep Ukranian economy on track

Interviewee

Apr 2022

Makar Paseniuk, Co-Founder of ICU, spoke to Yuri Bender, editor of Professional Wealth Management, about Ukraine's investment industry in light of the Russian invasion. For further analysis of how Russia's invasion of Ukraine impacts global wealth management, please visit the PWM website: https://www.pwmnet.com

Awards & Recognition

The American Chamber of Commerce in Ukraine

Winner 2021

Kyiv, UA

The American Chamber of Commerce in Ukraine awarded ICU a Thanksgiving Certificate of Appreciation in 2021 in recognition of the company's Leadership in Times of Crisis, Supporting Ukraine's Economy and People, and Exceptional Resilience during the COVID-19 Outbreak.

World Economic Magazine

Winner 2021

Kyiv, UA

In 2021, the World Economic Magazine named ICU the Best Asset Manager in Ukraine and the Best Asset Manager in Corporate Governance in Ukraine.

Euromoney Private Banking and Wealth Management Survey

Winner 2021

Kyiv, UA

In the 2021 Euromoney Private Banking and Wealth Management Survey, ICU was recognised as Ukraine's leading Capital Markets and Advisory firm. In addition, ICU was awarded 3rd place in the Private Banking Services category.

Global Banking & Finance Awards

Winner 2020 & 2021

ICU was voted the Best Securities Brokerage in Ukraine, Asset Management Company of the Year and the Best CSR Company in Ukraine by the Global Banking & Finance Awards 2020. In 2021, ICU was recognised as the Best Trading Platform and Asset Management.

FinAwards

Winner 2021

Kyiv, UA

Presented by BankOnline, Minfin and Finance.ua, the FinAwards is an annual award ceremony that recognises the leading financial technologies, products and customer services. In 2021, the ICU’s offer in trading government bonds was recognised as the investment offer of the year.

Corporate LiveWire: Innovation & Excellence Awards

Winner 2020

Kyiv, UA

Under the management of ICU, Dynasty, the Non-Governmental Pension Fund was voted the Best Pension Fund by the Innovation & Excellence Awards. Hosted by Corporate LiveWire, the Innovation & Excellence Awards is the international financial publication’s annual awards ceremony.

Cbonds Awards

Winner 2015 - 2019

Kyiv, UA

ICU was voted the Best Investment Bank in Ukraine for five years in a row from 2015 to 2019 by the Cbonds Awards, an annual award given to the leaders in the CIS bond market.

Acquisition International: International Fund Awards

Winner 2016

Kyiv, UA

Acquisition International hosts an annual International Fund Awards ceremony which recognises the leaders within the fund industry. In 2016, ICU was voted the No.1 asset management firm in Ukraine.

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