Dromeus Bets On Beaten-Down Greece

Nov 12 2012 | 2:30pm ET

Dromeus Capital specializes in emerging markets. But the Swiss-based hedge fund's latest offering looks a little closer to home—and to an economy generally saddled with less-promising adjectives than "emerging."

Dromeus has launched a fund to invest in Greece—both government debt, as well as equities and corporate debt. The Geneva-based firm's reasoning is simple: Greece has been so badly beaten down that it has little room left to fall.

"The huge uncertainty and political instability has caused investors to sell down Greek assets to prices from which the likelihood of further declines is limited," Dromeus CEO Achilles Risvas told Reuters.

"Our trade ideas do no fit, in our view, in the prevailing perception that dictates Greece is 'uninvestable' and a synonym for bankruptcy."

For the corporate names, Dromeus, which has an office in Athens, plans to focus on companies it sees as best-equipped to handle Greece's current recession, which has forced its European Union brethren to bail it out and to question its continued place in the euro common currency. Initially, the Dromeus Greek Advantage Fund will focus on fixed-income assets.

Risvas said Dromeus has nearly reached its €200 million capacity for the fund.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

FATCA for Hedge Funds: Eight Common Pitfalls

Sep 1 2015 | 10:56am ET

FATCA is now a way of life for those in the financial industry and most professionals...

 

Editor's Note