Thursday, 26 May 2016
Last updated 4 hours ago
Dec 18 2013 | 3:37pm ET
Greece is hoping to drum up interest in some state assets from U.S. hedge funds, starting with Paulson & Co.
Officials from Greece's Hellenic Republic Asset Development Fund, charged with raising €11 billion through state asset sales over the next three years, met with firm founder John Paulson in New York this week, Bloomberg News repots. Paulson is among the hedge funds to buy up Greek debt expecting a European bailout—profiting handsomely.
The fund's executive director, Andreas Taprantzis, told Bloomberg that a number of hedge funds, including Paulson and Third Point, have expressed interest in participating in the sales.
"There is improved sentiment about investing in Greece," he said. "Six months or a year ago investors were coming to Greece asking for returns of 30%. It was surreal."
Paulson has continued to invest in Greece, buying shares of Alpha Bank in the third quarter. And Third Point said earlier this year that it would launch a Greek-focused hedge fund.
Despite the optimism and the "ambitious" plan to raise €3.6 billion next year, the fund has suffered setbacks, notably the failure in June to sell Greece's national gas company.