Investment and consulting firm Adamant Capital Partners targets Croatia

Adamant Capital Partners, a financial consultancy firm from Bulgaria, is expanding its services into Croatia. 

Founded in 2009 in Sofia, Adamant Capital Partners is an investment consulting company. The firm serves four clients groups: financial services institutions, corporates, wealthy individuals (mostly high-net worths or their family offices) and Bulgarian public entities. 

About half of the work Adamant Capital Partners delivers is related to investment management and capital markets. Institutional clients are supported with research insights into the Bulgarian equity and fixed income market, along with brokerage services, securities sales, asset management, structured products and ETFs distribution, and fund administration. High-net worth individuals are provided with investment consulting and portfolio management services.

The other half of its project portfolio relates to traditional consulting work. A wide range of financial advisory services, including debt and equity financing, M&A advisory, sell-side and buy-side transactions, is provided to private sector clients seeking corporate finance support. The consulting firm also supports corporates and mid-sized enterprises with commercial strategy, valuations and restructuring. The firm’s public sector arm helps mainly Bulgarian public entities with management of projects financed by the European Union.

While the Bulgarian financial consultancy has been providing its consulting services internationally, its investment management arm has to date worked primarily in the local market. Adamant Capital Partners, which has around fifteen employees, falls under the supervision of Bulgaria's Financial Supervision Commission (FSC).

In a bid to capitalise on growing opportunities in Croatia, a country with a population of 4.2 million, the company has set its sights on serving clients in the market, however, without setting up a branch in the country. Meanwhile, FSC has notified Croatia's financial regulator about Adamant’s plans.

According to an analysis by Knight Frank, an international real estate consulting firm, Croatia has a relatively large group of affluent residents, with the number of ultra high-net-worth-individuals (UHNWIs) double the overall European average. At the absolute top of the tree, Croatia has 120 super-millionaires, with assets over $30 million.