Our Leadership

DMF Capital is led by professionals with experience across investment banking, private equity, and senior operating roles. The team advised on and executed complex transactions totaling several billion euros across M&A, capital markets, and private investments, with backgrounds spanning global financial institutions and large operating business.

This combination of investment and operating experience informs a disciplined approach to decision-making, strong process control, and direct senior involvement in every mandate.

Partners

Daniel Farmache is the founder of DMF Capital. He began his finance career at Citigroup in London and Bucharest, covering both investment banking and corporate banking and working on landmark IPO and M&A transactions across the CEEMEA (Central & Eastern Europe, Middle East, and Africa) region …

Daniel Farmache
Managing Partner

  • After returning to Romania, Daniel served as CEO of E‑INFRA, a leading energy and infrastructure group comprising five operating companies and 700 employees. Under his leadership, E‑INFRA expanded eightfold over five years, co‑developed multi‑billion‑dollar energy projects, and executed several first‑of‑their‑kind infrastructure transactions in Romania.

    He later became the founding CEO of RoPower Nuclear, a USD 5bn+ project company developing Europe’s first small modular reactor (SMR) nuclear power plant — a strategic initiative backed by the Romanian government in partnership with institutions from the United States, Romania, and South Korea.

    Daniel also served in Romania’s technocratic government as an adviser on economic policy in the Prime Minister’s Chancellery and as Chief of Staff at the Ministry of Labour.

    He holds an MBA from London Business School, completed an exchange program at the Massachusetts Institute of Technology (MIT), and graduated with First Class Honours in Finance and Banking from the University of Reading’s ICMA Centre. He also holds a law degree from Romania and is a CFA charterholder.

Constantin Iarnă
Partner

Constantin Iarnă joined DMF Capital as a Partner in July 2025. He brings over a decade of experience in corporate finance and private equity, with a background spanning advisory work, principal investing, and operational roles in the infrastructure sector …

  • He gained early experience in banking and management consulting before beginning his full‑time career in Deloitte’s Financial Advisory practice, where he developed expertise in valuation, financial modelling, and transaction support. Constantin then joined Enterprise Investors, at the time the largest private equity firm active in Romania.

    He later transitioned into industry with E‑INFRA, an integrated infrastructure group, where he played a leading role in executing M&A transactions, IPO preparations, capital raisings, and strategic investments across the group’s energy, telecom, and construction businesses. He subsequently returned to private equity with Impetum Group, focusing on alternative investments across multiple asset classes.

    Constantin also served in Romania’s technocratic government, working at Invest Romania, the national agency for foreign investment.

    He studied Civil Engineering at Imperial College London and pursued further studies in Finance & Banking at the Bucharest University of Economic Studies (ASE).

Alexandru Moraru
Partner

Alex Moraru joined DMF Capital as a Partner in 2026. He brings more than 16 years of experience across investment banking and private equity, built largely in London advising corporates and financial sponsors on M&A and capital markets transactions …

  • He began his career in management consulting in Bucharest before moving into private equity with Catalyst Microfinance Investors in Amsterdam. Alex then moved to London to join Nomura, working across M&A, equity capital markets and corporate broking, with early coverage of financial institutions.

    He subsequently joined Macquarie Capital where he worked as a Vice President across M&A, equity capital markets, and corporate broking, before moving to HSBC to cover UK Investment Banking, latterly as a Director. There he advised on strategic mandates for UK-listed companies and private equity sponsors.

    Alex later moved in-house at NewDay, a leading UK consumer finance provider owned by CVC and Cinven, with roles across corporate development, investor relations, and corporate finance. He played a central role in the sale of NewDay's consumer credit portfolio to KKR — a highly innovative asset-based finance transaction.

    He holds an MSc in Finance and Investments (Cum Laude) from Rotterdam School of Management, Erasmus University, and a BA in International Business and Economics from the Bucharest Academy of Economic Studies (ASE). He also completed the Private Equity Masterclass at London Business School.