The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

The fund to reinvent Greece

Aerial photo of the highway over the Corinth canal in the Peloponnese, Greece
Photo: Getty Images

Growthfund was formed six years ago as a steward for Greek state-owned enterprises in the hope of improving and extracting value from them. As chief executive Gregory Dimitriadis explains, its ambitions now include investment, emission reduction and enabling the flow of capital from the Middle East.


Few nations have had a more eventful 15 years economically than Greece. More or less consistently since 2007 it has suffered both international crises with profound impacts on the country’s finances and debt crises all of its own.

Growthfund, a sovereign wealth vehicle established as Hellenic Corporation of Assets and Participations (HCAP), is in some sense a mirror and response to these times, having been formed in 2016 during the third economic adjustment programme of the Greek debt crisis.

In the eight years before its launch, Greek GDP had dropped by a quarter while unemployment had risen by the same amount, bad debts were up by half and Greece’s sustainability as a eurozone nation had been in doubt throughout.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

Tags

Chris Wright head.jpg
Asia editor Euromoney
Contact
Chris Wright is Asia editor. He covers the Asia Pacific region and is based in Singapore. He has previously been Middle East editor of Euromoney, editor of Asiamoney, investment editor of the Australian Financial Review and a correspondent on emerging markets and sovereign wealth for numerous publications worldwide. He has also written two books.