NewsmakersJuly 2, 2024

Vasilis Theofanopoulos Named CIO of Growthfund

The Greek sovereign fund manages $5.9 billion in assets.

Reported by Matt Toledo

On Monday, Vasilis Theofanopoulos announced his appointment as CIO of Growthfund, the National Fund of Greece, a sovereign wealth fund which invests in domestic assets and provides revenue to the national government.

Growthfund manages a portfolio of state-owned enterprises across the energy, real estate, transportation and infrastructure, food and supply, technology and postal services sectors. Growthfund manages a total of 5.5 billion euros ($5.9 billion) in assets.

Some of the fund’s assets include a 25% stake in Athens International Airport and a 34.12% stake in the Public Power Corp. S.A. Growthfund, which is in the process of becoming a national investment fund, in April announced that its revenue and profits more than doubled in 2023.

“Growthfund operates under a single institutional framework, combining assets of the Greek State and participation in Stated-Owned Enterprises,” according to Growthfund’s website. “Our mission is to optimize their management, drive corporate growth, modernize operations, and maximize returns, all for the benefit of the economy, the environment, and the citizens.”

Theofanopoulos has more than 20 years of experience in investment management and banking. Prior to his appointment at Growthfund, Theofanopoulos was a director at Solon & Pytheas Capital Navigation and senior director of private markets at Mount Street Group. He was also a partner in Pillarstone, and was group chief financial officer at Iason Hellenic Shipping Co. He has also worked as an investment banker at J.P. Morgan Chase & Co.

Theofanopoulos earned a bachelor of science degree in economics from the University of Piraeus and an MBA from London Business School.