One of the top private equity dealmakers, BC Partners, is relocating its European chair Nikos Stathopoulos from the UK to Greece. Stathopoulos, a Greek national, is moving as Athens introduces a new tax regime offering a 5% levy on bonuses and carried interest for qualifying executives, down from the standard 15%. The move is not driven by tax incentives but to support BC Partners' expansion plans in Greece.
BC Partners, founded in 1986 as part of Barings Bank and managing over $40bn in assets, plans to open an office in Greece and raise capital for further deals. The firm previously executed its first Greek transaction two decades ago and has since completed deals including retailer Pet City and education provider Alphabet. BC Partners is among Britain's largest buyout firms, notably involved in the failed LIV Golf rescue attempt.
Greece aims to rival established financial hubs like the UK, Switzerland, and the UAE by attracting wealthy investors through targeted incentives. Hedge fund manager Chris Rokos also relocated to Greece recently, following similar tax benefits for private equity and hedge fund executives.
Source: Financial Times Companies · Summarized by HeadlinesBriefing