Elan Considers Athens Office as Hedge Funds Eye Greece

Elan Capital Management has held preliminary discussions with Greek authorities about opening an office in Athens but has not taken a final decision. The talks are at an early stage and no commitments have been announced.

Elan is a London-based fixed income relative value specialist founded in 2018 by Renos Dimitriou following a spin-out from Pine River Capital Management. The firm declined to comment on the discussions and has not disclosed any timetable, location or staffing plans.

Multi-strategy managers Millennium Management and Verition Fund Management are also evaluating the possibility of establishing a presence in Athens. At least some investment professionals from Millennium have been considering relocation as part of that assessment. Neither firm has announced any office openings or formal moves.

It is not clear whether any potential Athens office would host trading, research or support functions, or how many staff might be involved. Any new operations would be subject to local regulatory approvals and hiring processes.

Greek authorities and other market participants have held talks with several investment firms about possible operations in the country. Future announcements from the firms or regulators would provide details on scope, timing and regulatory steps.