Determined to invest in Greece appear more and more Americans are either
institutional investors or private equities or even billions of
individuals and place in the Stock, bonds, government and business,
lending business, buying real estate and unscrupulously wager a large
financial-and geo-comeback the country.
Showing thus simultaneously defy and, estimated as high in Europe,
political risk and seem to anticipate that in one way or another
Europeans lenders in the country would settle the issue of
sustainability of public debt as they have every interest in this.
consider that the geopolitical situation of the country upgraded rapidly
because of the wider and deep political turmoil in the southeastern
Mediterranean and especially in Syria, Turkey and Egypt. Distinguish
major opportunities in the emergence of offshore hydrocarbon periphery
as a viable alternative energy source in Europe. He notes
with temper often absent among domestic political and economic observers
solidly confirming all of the above: The funds flow from Europe to the
budget, the choice of Greece as a country path new hydrocarbon
pipelines, the great increase in the competitiveness of highly skilled
domestic workforce, investment friendly introduction legislative
frameworks such as those for AEAAP and unlisted investment vehicles,
upgrading the country as a gateway for imports from Asia to Europe, the
primary surplus barrage of positive publications of international
economic media such as Forbes and the Economist and so
more or less more than 10 billion, the vast majority of Americans, have
flowed into the Greek capital and businesses in the last 18 months. Energy, shipping, real estate, banking, tourism, construction and extroverted groups seem to attract them.
Day by day the work is becoming more and more clear to anyone who
follows the sequence of events began to unfold after spring when after a
series of meetings with Greek businessmen in London road show in Athens
and New York and with the Prime Minister his two trips to the U.S. as
in Athens began the second wave of increase in stocks and bonds. Alongside
manifested participation in capital increases of banks, began to rise
again in stock and a little later came new large investments.
Third Point, Fairfax, Baupost and York Capital
As of Third Point (with total funds under
management of approximately $ 13 billion) initially at Dolphin Capital
Miltos Kambourides and later Energean Oil & Gas of Riga /
Topouzoglou just yesterday sealed and deal worth 500 million euros with
British Petroleum for the purchase of production before produce.
As of Fairfax (which has assets of around 32 billion euros) in the group
Mytilineou Eurobank Properties or York Capital (managed funds of
approximately 14.4 billion dollars) initially Costamare group
Constantakopoulos and after the GEK Terna, later Pangaea and now the
warrants of Piraeus.
With attention turned continuously in Greece remains and Baupost Group's
Seth Klarman which manages funds of 29.4 billion and has entered
including the share capital of OPAP and will control 10.34% of Piraeus
if he exercises the warrants it holds.
Goldman Sachs, Fidelity and JP Morgan
On Greece flirt but many others such as Goldman
Sachs allegedly looks great participation in the upcoming capital
increase of Geniki Bank or JP Morgan yesterday resumed coverage of the
three major Greek banks of two even to establish a "market". This,
three months after the meeting of the heads of JP Morgan, Jamie Dimon
with Prime Minister Antonis Samaras in mid-autumn in a closed meeting in
New York.
The roster of that table complement each other and John Carlson of
Fidelity Investments, the Nick Raley of Blue Crest Capital, the Mark
Vezinsky of Eagle Vale Capital, the Ignor Ragosky of Emso partners, a
subsidiary of Citigroup engaged in bonds, the Bryan Higgins of King
Street Capital, Hary Harant of the NWI Management, the Sara Zervos of
Openhaimer, the James Vallone of Wellington Managment and David Martin
of BTG Punctual. BlackRock and Blackstone
In another closed meeting in New York A. Samaras saw the head of
Goldman Sachs, Loyd Blackfein and President of BlackRock, Lary Fink. The two firms collectively manage or advise funds in excess of $ 5 trillion. At
this same meeting was the John Paulson and other large hedge funds such
as Canyon Capital Partners, the Centerbridge Partners and the
Blackstone Group.
Later it became known that the Blackstone with 210 billion under
management CONSORTIUM 700 million the Greek shipping interests Eletson
families Kertsikof, Karastamati and Chatzieleftheriadi while more after
it was announced that acquires part of the activities of Greek interests
listed on Nasdaq company mobile marketing, Velti.
Lesser known but clearly hyperactive in Greece is and Oaktree Capital (managed funds approximately 77.1 billion dollars). Originally
entered the Greek shipping Genmar management with more than 200 million
dollars and after about a year went into partnership with the Greek
shipping OceanBulk and Star Bulk to build seagoing fleet acquisition
price of which could rise to prospectively and 1 3 billion dollars with
the same time sequence adopting other counterparts of the Oaktree passed
this summer by the data rooms of Proton Bank and TT and sources say
they targeted both the acquisition of these each of these but seized the
opportunity to examine the assets of two banks pithanologeito strongly
advised that you join the Eurobank as eventually happened. flows in numbers
In this environment, capital flows to Greek bonds, equities and foreign
direct investment since last July to date, which is calculated by
knowledgeable market participants that exceed conservatively estimated 6
billion and in line with other more optimistic 10 billion .
Approximately 3 billion of them estimated to relate to net inflows from
abroad in the Greek stock market (2.33 billion of which in 2013)
including capital increases of Greek banks and another 3 billion
approximately calculated that relate placements in Greek government
bonds were getting to levels of 20% or less of the nominal value, and
continue even now that they have surpassed the 50%. Of the 6
billion they added funds of the order of the other two billion euro on
capital invested in Greek corporate bonds issued in the last 18 months
as of OTE, Titan, HEP, Frigoglass, Intralot, S & B, Emma Delta and
other such and appearances as those mentioned above.
The "fad" with Europe
Attractiveness of Greek assets fueled both by
expectations of recovery of the real economy and the low prices at which
they believe they can obtain valuable assets and the broader
international trend of capital flows. The Bloomberg
calculates Americans fund managers looking for investment opportunities
in Europe generally have assets of five trillion euros.
Much as we all seem distant, vain or even cynically in the crisis-ridden
for the fifth year in a row Greeks deserve to keep that one interests
of this displacement want the country to succeed. And
insofar as they affect the outcome of the effort-even with profit in
mind ... do-and it is reasonable to expect that they will continue to do
so.
