Investment Strategy and Objectives
SMERemediumCap is the first mid-market turnaround private equity fund in Greece that invests in businesses operating below their full potential or undergoing significant transformation. The Fund aims mainly to bridge the equity funding, strategic and management skills gap of mid-sized corporates, which are over-leveraged and/or underperforming.
The investment team has expertise in a wide range of transaction types, including turnarounds, leveraged buyouts, growth equity, recapitalisations and investments throughout a company's capital structure.
We provide flexible capital and seek out complex situations in which our capital and strategic support enhance value for all stakeholders. SMERemediumCap drives value through creative transaction structuring, thoughtful strategic direction, operational expertise and deep industry knowledge, always in partnership with management teams.
The Fund invests in companies with revenues between €10 million and €100+ million, and with an average investment size between €5 million and €20 million. Through its limited partners, it has access to additional capital to fund larger transactions.
In 2020, SMERemediumCap achieved a first closing with €104.7 million in capital commitments. Limited partners in the Fund are prominent Greek and international institutional investors, pension funds and family offices, including EBRD.
Nikos Karamouzis has over 30 years of experience in wholesale banking, capital markets, asset management, private equity and corporate restructuring. He has previously held senior positions in the Federal Reserve Bank of Cleveland, Bank of Greece and Greek Financial Institutions (including Eurobank, Piraeus Bank, Geniki, NBG). He has also served (amongst else) as Chairman of the board of directors of the Hellenic Bank Association, Vice - Chairman of the board of directors of the Hellenic Federation of Enterprises and Chairman of the biggest private equity firm in Greece, Global Finance. He has obtained a BSc from the University of Piraeus, a MSc from the American University and a PhD in Economics from the Penn State University.
Kostas Karafotakis has 27 years of experience in senior management roles & private equity transactions in Greece & abroad. He has previously served as General manager and CEO of Olympia Group for 15 years. He has obtained a BSc and an MBA from Athens University of Economics & Business.
Theodore Moschos has 19 years of experience in principal investing across various sectors. He has previously worked for Aktor Concessions (Ellaktor Group), Macquarie Capital and Global Finance. He has obtained a MSc from National Technical University of Athens and an MBA from Harvard Business School.
Nikos Voudouris has 15 years of experience in International & Greek private equity and investment banking and corporate law advisory, including USD30bn+ debt liabilities restructuring transactions, along with new capital raise for highly leveraged companies. He has previously worked for KKR-Pillarstone, Evercore and Rothschild. He has obtained a LLB from Democritus University, a LLM from Nortwestern University, and a MBA from University of Chicago.
Stavros Blatsios has 19 years' experience in financial & accounting management, with focus on M&A, restructuring, business controlling and banking. He has successfully operated as Business Development Director and responsible for operational mergers in the IT sector and SME consolidation. He is a Chartered Financial Analyst (CFA), holds a BSc in Economics & Business by Athens University and a MSc by Brunel University.
Nikolas Zorbas has 7 years' experience in the private equity and investment banking industry. He has been involved in a number of significant corporate events, restructurings, M&A and equity/debt capital issuances. He has evaluated investment opportunities, performed transactional due diligence and managed existing investments. He has focused on debt restructuring, distressed M&A transactions and company turnarounds. He was previously with KKR-Pillarstone and AXIA Ventures Group. He holds a BSc in Accounting & Finance from Athens University of Economics and Business and a MSc in Finance from Bocconi University.
Elisa Giouni has 7 years’ experience in M&A and leveraged acquisition finance, as well as in-house corporate development experience in a FTSE100 company. She has analysed, diligenced and executed M&A transactions across Europe. She was previously with DS Smith and Bank of Ireland. Elisa holds a Meng in Civil Engineering from the University of Patras and a MSc in Energy, Trade and Finance from Cass Business School.
Nikos Somakos has 3 years’ experience in corporate restructuring and financial advisory. He has carried out business plans, independent business reviews, restructuring procedures and distressed M&A transactions. He was previously with PwC. Nikos holds a BSc in Economics from the Athens University and a MSc in Investments and Wealth Management at Imperial College Business School.
SMERemediumCap SICAV-SIF RAIF
SMERemediumCap (“the Fund”) is a Luxembourg fonds d’investissement alternatif réservé (Reserved Alternative Investment Fund, RAIF) established in 2019 in the form of a SICAV - société d’investissement à capital variable (Investment Company with variable capital) and organised as a SCA - société en commandite par actions (corporate partnership limited by shares) in accordance with the RAIF Act 2016.
SMERemediumCap GP S.à.r.l. (“the General Partner”) is a Luxembourg private limited liability company and is the managing General Partner (GP) (associé gérant commandité) of the Fund.
Investment only by Qualified Investors
Ordinary Shares are exclusively reserved for Qualified Investors. The Fund will not issue, or give effect to any transfer of, Ordinary Shares to any investor who is not Qualified Investor.
Qualified Investor means an Investor who may acquire Shares in the Fund under the law applicable to him/her/it in his/her/its relevant jurisdiction and to whom the General Partner or authorised placement agents are allowed to promote the Fund provided that they are (i) Well-Informed Investors and not (ii) Restricted Persons.
Well-Informed Investors means any well-informed investors within the meaning of article 2 of the RAIF Act 2016.
There are three categories of Well-Informed Investors:
- investors who are institutional investors according to Luxembourg Law
- Professional Investors
- any other investor who adheres in writing to the status of experienced investor and either
- commits to invest a minimum of one hundred and twenty-five thousand euros (EUR 125,000) in the Fund or
- has obtained an assessment by a credit institution within the meaning of Directive 2006/48/EC, by an investment firm within the meaning of Directive 2004/39/EC, by a management company within the meaning of Directive 2009/65/EC, of by an AIFM within the meaning of the AIFM Directive certifying its expertise, experience and knowledge in adequately appraising an investment in the Fund.