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István Tiborcz's Name Has Allegedly Disappeared From the NAV Registry, but His Business Partners Appear at Several Private Equity Funds

Summary by Portfolio
István Tiborcz's name is not among the actual owners of any private equity fund that Economx examined in the NAV database, although 21 funds were previously linked to him. The most striking change occurred at Gordiusz Private Equity Fund, where Tiborcz was listed with a 99 percent stake in September, but in October only the fund manager appeared with a zero percent stake. Several of his former business partners, including Áron Hornung and Gábor …

4 Articles

Lean Left

At the funds behind which Tiborcz was suspected, they now found Áron Hornung, Bálint Szécsényi, László Dicső and the former Elios CEO.

·Hungary
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Center

István Tiborcz's name is not among the actual owners of any private equity fund that Economx examined in the NAV database, although 21 funds were previously linked to him. The most striking change occurred at Gordiusz Private Equity Fund, where Tiborcz was listed with a 99 percent stake in September, but in October only the fund manager appeared with a zero percent stake. Several of his former business partners, including Áron Hornung and Gábor …

·Budapest, Hungary
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According to the latest data from the beneficial ownership register of the National Tax and Customs Administration, István Tiborcz is no longer listed as an owner in any of the private equity funds examined, and instead, his old business partners, confidants, and Ruszlan Rahimkulov have emerged behind the hundreds of billions in assets.

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István Tiborcz's name has disappeared from private equity funds - However, his old business partners have appeared in the register.

·Budapest, Hungary
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Index broke the news in Budapest, Hungary on Wednesday, October 28, 2026.
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