Makar Paseniuk

Founding Partner of ICU, Co-chairman of the Board of Directors of KSE, Head of the Fundraising Committee


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.

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 holds a Bachelor’s Degree in Business Administration from International Christian University and a Master’s Degree in International Economics from Kyiv National Economic University.