We take a flexible, opportunistic investment approach and pursue a broad range of transaction types and structures to secure the best investments. Whilst open to investment across a broad range of sectors and geographic regions, we currently have a focus on infrastructure and services projects within the Mediterranean, particularly within the tourism industry.
This year Tethys has reviewed investment opportunities in Brazil, S. Africa, Australia, the UK, Dubai and Greece.
Tourism has been the industry of focus for 2015.
We have taken positions in two infrastructure (port and marina) projects in Greece. The Fund is considering further marina/port developments in Greece with a view to completing a network of high-end yachting hubs within 2020.
In conjunction with its marina investment strategy the Fund has set up a yacht agency vehicle providing tailor-made services to both transiting yachts and yachts that are home-ported in Greece. The Fund’s decision to invest in Greek tourism and yachting infrastructure began by following a developing trend for superyacht owners and charterers to increasingly stray from their traditional West Med itineraries into the Eastern Med in search of cleaner seas, wider choices and a purer cruising experience. Equally, tourism numbers to Greece are on the rise in spite of the well known Government inadequacies and more recently strict capital controls. This trend combined with more advantageous local asset pricing has allowed the Fund to piggyback the Greek depression whilst positioned to provide sorely needed high-end yachting infrastructure and jobs.
The above is merely intended to demonstrate the line of consideration and subsequent investment that the Fund has taken at the same time as most investors have been pulling out of Greece. It is not intended to demonstrate an affinity for tourism related projects or a geographical focus. The reader will note that infrastructure and agency projects of the sort described above are long term investment proposals. Again, this is not a focus decision; in fact the Fund is keen to participate in venture capital funds, growth equity funds, buy-out funds and distressed funds, all defined by an opportunity to balance risk and profit by way of measurable analysis and conservative judgments.
We are open to and actively encourage dialogue with business leaders and young entrepreneurs alike. If the model works in principle then we want to hear about it and to be given the opportunity to apply our own in-depth analysis and added value.