By Marynia Kruk
WARSAW--The supervisory board of Poland's newly created
state-run infrastructure investment fund has named Mariusz
Grendowicz, a former chief executive of BRE Bank SA (BRE.WA), as
chief executive, the Treasury Ministry said in a statement
Thursday.
Board members chose Mr. Grendowicz to head the new
private-equity style investment vehicle, called Polskie Inwestycje
Rozwojowe SA, due to his extensive experience in the banking
sector, the ministry said.
Poland's government created PIR, which will sell shares in
Polish blue-chip companies to fund equity investments in greenfield
infrastructure projects, to combat a slowing of the country's
economy without denting the budget.
PIR will receive grants of shares from the treasury, which holds
about 100 billion zlotys ($31 billion) in assets, mainly stakes in
various Polish companies.
PIR intends to follow the business model of institutions like
the European Bank for Reconstruction and Development and Germany's
KfW, which invest in projects alongside private-sector
partners.
Write to Marynia Kruk at marynia.kruk@dowjones.com