Private funds snap up local enterprises

Private funds snap up local enterprises

Greek private equity funds have in the last few months been busy taking over local medium-sized corporations.

This is an ecosystem, with domestic managers and often Greek investors, that has no more than 10 funds and manages 1.5 billion euros if one includes those positioning themselves in startups, EOS Capital Partners head Apostolos Tamvakakis explains to Kathimerini.

These funds are expected to increase as this market matures. However, it will take much more to bridge the gap with the European private equity market, according to Markos Veremis, chairman at Upstream and the Innovation Committee of the Hellenic Federation of Enterprises (SEV), and also partner at BigPi Ventures.

For now private equities such as SMERemediumCap (SMERC), led by Nikos Karamouzis, EOS, Diorama (under the umbrella of DECA) and Southbridge are methodically constructing or have already constructed their positions in medium-sized enterprises in Greece, each employing different strategies, but always aiming at capital gains translating into returns far higher than in the bourse or other investments.

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