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

FINalternatives Survey: We Asked Investment Pros...

Apr 2 2016 | 9:42pm ET

The data from our annual reader survey continues to roll in and provide interesting...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...