GrowthFund, the National Fund of Greece, on Tuesday announced that it has mandated BlackRock FMA as an advisor for the implementation of a strategic plan for its transformation into a National Investment Fund.
In an announcement, GrowthFund said it was making a critical step towards its transformation into a National Investment Fund to enhance its investment ability and its impact on the Greek economy. Under this plan, it will invest its revenue in the more efficient way and to reinvest part of revenues resulting from an increase in public asset value to the benefit of the Greek economy. In this framework, it mandated BlackRock FMA to offer support in the development of its future business model and the road map to implementing a strategic plan.
BlackRock FMA was selected following a tender.
Grigoris D. Dimitriadis, CEO of the GrowthFund said that the partnership with BlackRock signalled the start of the implementation of the Fund’s strategic plan which will be based on international best practices.
