Preqin’s extensive database shows that there are 12 fund managers that make private equity investments in funds with a geographic focus on Greece. Of this number, 75% are based in Greece and Cyprus, while the rest are based in Italy, UK and Switzerland.
Preqin research also shows that the estimated dry powder available to these firms is approximately USD 1.3 billion and the total funds raised in the past 10 years amount to approximately USD 3 billion.
Of the firms focussed on Greece, the most funds have been raised by UK-based NBGI Private Equity, which has raised an aggregate USD 1.1 billion in commitments for such vehicles. The firm raised three funds between 2006 and 2009 making buyout, expansion and early-stage investments in European countries, one of which was Greece. Its most recent fund, NBGI Technology Fund II, raised capital commitments of EUR 60 million and included National Bank of Greece as an LP.
Athens-based Global Finance is a private equity firm with a preference for investing in the manufacturing, information technology, specialty retail, media, telecommunications, services and real estate sectors in South Eastern Europe and Greece. In July 2007, the firm reached a final close on its South Eastern Europe Fund (SEEF) at EUR 350 million appropriated for buyout investments in dynamic companies with growth potential and expansion opportunities within the region. The ICAP Group, the largest business information and consulting firm in Greece, is one of its portfolio companies.
With regards to funds currently in market, Zaitech II Fund, managed by Athens-based Attica Ventures is targeting EUR 80 million. A general venture fund, its investments will be focussed on innovative companies in South Eastern Europe including Greece.
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