Centerra relied on the reputation and track record of its founders to attract investors, institutional and family office investors. At the time, many international investors did not have access to private equity investment opportunities in some countries, especially Romania. Before the financial crisis, the Romanian market was however overheated due to the country’s recent EU accession. Most local investors didn’t appreciate the long-term development value of idle and decrepit industrial assets – former factories built in communist times that were no longer viable on their original business model – and assets that required specialist expertise to develop. Backed by international investors, Centerra took a longer-term view of development and building businesses. Centerra was ultimately able to use the financial crisis as a springboard for recruiting the best people and building significant value in its businesses through careful planning and risk management, and the delivery of high-quality projects.