Wednesday, 22 October 2014
Last updated 15 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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