The sector has witnessed "a noticeable rise since 2007, with the ratio of non-performing loans to total loans skyrocketing from 4.6% in that year to 34.7% in 4Q15", according to Alexandros Kyparissis, hedge fund analyst at Stone Mountain Capital. This is the second highest NPL ratio in the EU after Cyprus (45.6%). According to Kyparissis, investors in the sector are mainly private equity funds and their private debt departments looking for small business exposures (66.5% non-performing exposure per asset class), followed by SMEs (58.2%), shipping loans (26.7%), mortgages (39.8%) and consumer loans (55.4%). Interview with Alexandros Kyparissis, Analyst Hedge Funds in Stone Mountain Capital LTD was covered on 8th Decmber 2016 in Structured Credit Investor (SCI) under ''Improved flexibility? Legal changes driving Greek NPL expansion' (website requires registration).