ΗIG fund interest in Thessaloniki, Volos port authorities; total investments in Greece of 1.35 bln€

The Port Authority of Thessaloniki (OL.Th) is reportedly on the “radar” of Miami-based H.I.G. Capital, with the multinational fund’s investments manager for Greece citing an interest “as long as certain conditions exist”.

Constantinos Bitros, the managing director of Athens-based Inventio SA, made the statement when asked about the prospect of Greek-Russian businessman Ivan Savvidis selling off his majority stake in the ATHEX-listed port authority, the second largest in Greece.

H.I.G. Capital is billed as a leading global “alternative” investment firm with US$57 billion of equity capital under its belt.

HIG has previously expressed an interest in creating a large logistics hub at the increasingly strategic state-run port of Alexandroupolis, in extreme northeast Greece, while also citing interest in the port authority of Volos, in central Greece.

At the same time, Bitros referred to a “complicated” situation involved with the port of Thessaloniki.

On a wider scope, he reminded that H.I.G. Capital Advisors LLC has systematically and over the long-term invested more than 1.350 billion euros in Greece – primarily the hotel and logistics sectors – and continues to provide a vote of confidence for the Greek economy, with the goal being to reach an asset value of 1.5 billion euros, and equity investments of more than 350 million euros.