Elan Capital Management is considering opening an office in Athens, adding another London-based hedge fund to a growing list of investment firms exploring Greece as a potential base for staff and operations, according to a report by Bloomberg.

The report cites unnamed people familiar with the matter as saying that the fixed income relative value specialist has held preliminary discussions with Greek authorities about establishing a presence in the capital, but no final decision has been made.

Elan, founded by Renos Dimitriou in 2018 following a spin-out from Pine River Capital Management, reportedly declined to comment.

The potential move comes as other hedge fund firms are also assessing opportunities in the country. Multi-strategy managers Millennium Management and Verition Fund Management are among those exploring an Athens presence, while some Millennium investment professionals are considering relocating to Greece.