Greece Drives Dromeus’ 26% Return

Jul 22 2014 | 1:14pm ET

Greece-focused hedge fund Dromeus Capital Management continues to cash in on its bet on the country, which is emerging from a massive debt and financial crisis that nearly forced it out of the euro.

Geneva-based Dromeus is up a further 26% this year, Bloomberg News reports, bringing its return since its October 2012 inception to an impressive 160%. Among the firm’s winners this year was the recapitalization of Greece’s Eurobank Ergasias.

The deal “will create significant value for shareholders,” Dromeus wrote to investors. “Whilst the Eurobank shares finished the quarter up 19% from the placing price, they remain a core holding for the fund as we believe there is further upside in the trade.”

Dromeus isn’t the only hedge fund profiting handsomely from the Greek recovery. Third Point’s Hellenic Recovery Fund—launched six months after Dromeus debuted—is up 12% this year and 34% since inception, and Greek bets have helped fuel Paulson & Co.’s global Recovery Fund, which is up 4.5% this year after returning 63% last year.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.