Credit

Poland’s Private-Debt Pioneer Survives the Country’s Latest Crisis

As a corruption scandal shook markets still reeling from the nation’s biggest corporate default, investors wanted their money back. How Rafal Lis dealt.

Rafal Lis almost single-handedly created Poland’s private-debt market. In seven years, he built his company, CVI Dom Maklerski sp. z o.o., into a 5.9 billion zloty ($1.6 billion) boutique asset manager.

Then, late last year, he feared it would all come crashing down.