Can Greece’s 5% tax lure private equity away from London?

On November 5, Nikos Stathopoulos, BC Partners’ chairman for Europe, was reported to be relocating from Britain to Greece, where the buyout firm plans an Athens office and oversees over $40 billion of funds. Greece’s Law 5313/2026 taxes carried interest—fund managers’ share of investment gains—at 15%, offering a 5% rate for the first seven years to relocating managers who meet conditions, including a Greek employer incurring at least €3 million in operational costs. The UK has taxed carried interest as trading income since April 6, 2026, treating 72.5% of eligible net profits as taxable income. A person familiar with BC Partners said the move was for business goals, not tax incentives; the firm already invests in Greece through Pet City and Alphabet.