Arrow Global acquires Spanish credit manager Amitra Capital
Arrow Global Group has acquired credit manager Amitra Capital, in a move that will expand its footprint in Spain and across Europe.
Madrid-based Amitra has assets under management of approximately €4bn (£3.44bn), It was founded in 2019 and specialises in managing European non-performing loans and real estate investments.
Arrow acquired Amitra from Canada Pension Plan Investment Board (CPP Investments), and CPP Investments will retain its existing economic interest in all of the portfolios managed by Amitra Capital.
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“This acquisition builds on our existing presence in Spain alongside our other operations, including Elba Finance and Galata,” said Zach Lewy, founder, chief executive and chief investment officer of Arrow Global.
“It also sets the stage for a broader strategic partnership with CPP Investments.
“We are excited to extend our platform and servicing capabilities into this key European market and look forward to expanding our partnership with CPP Investments in providing access to investment opportunities, expanding market presence, and delivering value to our clients.”
The acquisition includes a five-year servicing agreement between Arrow and CPP Investments. Key management personnel from Amitra Capital will continue to lead the company in order to ensure continuity and stability following the acquisition.
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“The sale of Amitra Capital to Arrow Global, and the establishment of a long-term strategic partnership is centred on Arrow Global’s extensive knowledge and experience in real estate asset-backed investments,” said Derek Jackson, managing director, head of European credit, CPP Investments.
“We have built a strong asset management business in Amitra Capital which is complementary and valuable to Arrow’s franchise, can access the scale and scope of their platform and we look forward to seeing the combined business move from strength to strength.”
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