Americans buy ruthlessly Greece

Americans buy ruthlessly Greece

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.