Another major hedge fund is considering opening an office in Athens. Elan Capital Management, founded by Greek-American ...

Another major hedge fund is considering opening an office in Athens. Elan Capital Management, founded by Greek-American financier Renos Dimitriou and headquartered in London, has held preliminary talks with Greek authorities about a potential Athens presence, according to Bloomberg sources familiar with the matter. No final decision has been made, one source told Bloomberg. Elan currently operates offices in London, Helsinki, and Singapore, and managed over $4 billion in assets as of early last year. The move follows a growing wave of hedge fund interest in Athens. Earlier this week, it emerged that billionaire Chris Rokos plans to leave the UK and relocate his tax residence to Greece. Millennium Management and Verition Fund Management are also reportedly eyeing Athens for new offices, with Millennium portfolio manager Rahul Chopra among the London-based executives exploring a move. The common thread driving all of this is the UK's rising tax burden. Athens has joined Dubai, Abu Dhabi, Switzerland, Milan, and Jersey as destinations attracting hedge fund talent fleeing London's increasingly costly tax environment, according to Bloomberg. Dimitriou left Greece for the United States at age 15 after receiving a green card. He later worked at Royal Bank of Scotland, Deutsche Bank, and Lehman Brothers before leaving Pine River Capital Management to launch Elan in January 2018. The fund focuses on relative value strategies in fixed income markets. Athens is rapidly becoming a serious financial destination, not just a tax haven alternative, but a location hedge fund executives are choosing to put staff and infrastructure. #Greece #Finance #HedgeFunds