The Zelos Approach

Our investment philosophy is firmly rooted in our “value matters” thesis. We pursue investment excellence by striving to generate asymmetric returns per unit of risk across the stressed and deep-value real-assets ecosystem, and to deliver superior risk-adjusted performance throughout market cycles. Our flexible mandate allows us to embrace complexity and create compelling outcomes for our investors.

Value Matters

We champion a strong value orientation, allocating capital to attractive risk/reward opportunities in any market environment. Valuation discipline underpins every decision we make.

Asymmetric Return per Unit of Risk

We aim to generate excess returns across the risk/reward spectrum, carefully balancing downside protection with meaningful upside potential.

Unconventionality

We thrive on complexity and creativity, working tirelessly to uncover and execute stressed and deep-value opportunities across asset classes and transaction types.

Zelos Fund

The Zelos Fund operates as a Registered Alternative Investment Fund (RAIF) in the form of an Open-ended Variable Capital Investment Company (VCIC). Access is limited to Professional and Well-Informed Investors under the AIF Law.

Key Differentiators

Asymmetric Risk Return

Asymmetric Risk–Return

PE-like returns from senior lending and deep-value entry points.

Stressed + Deep Value

Stressed + Deep Value

Investing across our core themes with tangible downside protection.

Unique Market Opportunity

Unique Market Opportunity

Zelos is the first special-situations fund in the broader geography to address a deep need for alternative capital with unique access to proprietary opportunities enabling superior risk-adjusted returns.

Proven track record in asset management and value creation strategies and best-in-class asset investment and operational processes.

Investment Strategy

Our objective is to harness the value creation potential in stressed and deep-value opportunities across Greece, Cyprus, and Southeastern Europe. By deploying capital into asset-backed credit strategies and undervalued real assets, we seek consistent capital growth with built-in downside protection.

1. Alternative Credit Strategies

  • Liquidity-driven and/or structured debt opportunities with an asset-backed or ring fenced-cashflow lending approach
  • Opportunistic bridge/rescue financings or engagement in “misunderstood” debt situations with structures avoiding enforcement risk
  • Quasi-secured debt exposures via structured or “hybrid” financings (preferred equity, convertibles) with appropriate governance rights.

2. Stressed & Distressed Situations

  • Engagement in restructurings, pre-insolvency situations and selective cases featuring balance sheet or operationally driven restructurings
  • Holistic approach to resolution including debt restructurings, recapitalizations and loan-to-own strategies

3. Deep Value Real Assets

Capturing deep-value opportunities in real estate through valuation dislocations created by distressed monetization cycles, auctions, or borrower-led disposals, using proprietary analytics and strict commercialization criteria.

  • Mainly real estate and hospitality assets
  • Acquisitions of real estate assets with valuation gaps vs. market value stemming from the NPL monetization cycle
  • Exit-driven valuation approach with defined views on asset commercialization and closely monitored CapEx deployment to maximize value creation
  • Strong emphasis on asset management approach through inhouse supervision and technical platform.
Portfolio Highlights

ESG & Responsibility

At Zelos Capital Partners, we believe responsible investing is fundamental to sustainable value creation. Our commitment is to:

Governance & Transparency

Embed governance and transparency at every stage.

Sustainability & ESG Practices

Promote sustainability and ESG practices across portfolio companies and investments.

Positive Community Impact

Deliver positive impact in the communities where we invest by fostering resilience and expanding opportunity.