Read More Greece's Tsipras, creditors struggle to bridge debt gaps
Other hedge funds to bet on a Greek recovery include Third Point and Alden Global Capital via Greek recovery-focused funds. Perry Capital and Knighthead Capital Management are among those that own Greek government bonds, according to recent conversations with people familiar with the situation.
"Although the situation will likely continue to deteriorate before it improves, we maintain that the probability of Greece exiting the [European Economic and Monetary Union] is closer to 10 percent and therefore Greek assets are significantly mispriced at current levels," Perry wrote in an April 23 letter to investors. It said the market was pricing in a more than 60 percent chance of exit.
Representatives for Perry, Alden, Third Point and Knighthead declined to comment or did not respond to requests.
Some hedge fund managers aren't convinced of the Greek opportunity.
"Greece is but one instance of the enormous economic lie that governments have created," Mark Spitznagel, chief investment officer of $6 billion Universa Investments, said in an email via a spokesman. "The wool is slowly being pulled away from our eyes, and our eventual simultaneous acceptance of this unsustainable economic position will mean a swift and dramatic market repricing."
Universa holds no positions in Greek securities.