GREECE Law and Practice Contributed by: Ioannis Charalampopoulos, Petros Machas and Alexandros Saratsiotis, Machas & Partners
Machas & Partners Law Firm 8 Koumpari str Kolonaki 10674 Athens Greece
Tel: +30 210 7211100 Fax: +30 210 7254750
Email: info@machas-partners.com Web: www.machas-partners.com
1. General 1.1 General Overview of Jurisdiction
The Greek alternative funds sector has demonstrated activity in the areas outlined below. Private Equity Supported by EU financial instruments and other funding toolkits, along with private investments from financial institutions and other institutional investors, EU-domiciled private equity funds managed by Greek AIFMs are focusing on mid-market transactions and regional expansion strategies. Venture Capital Supported by initiatives from Hellenic Development Bank of Investments (HDBI) and EU-sponsored investment platforms along with private investments from financial institutions, family offices, business angels and high net worth individuals, Greek venture capital funds operate mostly under a sector agnos - tic investment strategy with focus on deep tech and artificial intelligence, while a few funds are sector- specific, concentrating in particular on renewable energy sources or pursue a niche investment strategy focused on impact investing. Real Estate Leveraging Greece’s strategic location and recovery- driven opportunities listed real estate investment companies (REICs) have a dominant position in the Greek real estate market. REICs have gained signifi - cant popularity over the past years due to their special tax treatment and other tax incentives, especially for foreign investors.
Greece has emerged as an increasingly sophisti - cated jurisdiction for alternative investment funds, having undergone significant regulatory modernisa - tion aligned with EU standards over the past decade. This alignment with EU regulatory standards has attracted increasing interest from both domestic and international investors. The market demonstrates a clear bifurcation between a relatively mature sector of Undertakings for Collective Investment in Trans - ferable Securities (UCITS) serving retail investors and a steadily expanding Alternative Investment Funds (AIFs) market focused on professional and well- informed investors. UCITS remain a core component of the retail offer - ing, distributed mainly through banks and investment firms, with stable inflows even in periods of macro - economic volatility. The AIF segment, meanwhile, has gained strong momentum, particularly in private equity and real estate sectors. In recent years, there has been a notable uptick in the establishment of Greek AIFMs, reflecting growing confidence in Greece as a jurisdiction for the estab - lishment of fund managers. The implementation of the AIFMD has created a robust framework that attracts both domestic and international managers. Greek AIFMs benefit from full EU marketing passport rights, making the jurisdiction attractive for managers seek - ing pan-European distribution capabilities while main - taining operational flexibility.
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