Arrow Global Group Announces Acquisition of Amitra Capital from CPP Investments and Establishes European Strategic Partnership
LONDON, May 13, 2024 /CNW/ - Arrow Global Group Limited ('Arrow Global'), a leading vertically integrated alternative asset manager specialising in credit and real estate, today announced the acquisition of Amitra Capital Limited ('Amitra Capital') from Canada Pension Plan Investment Board ('CPP Investments'). This acquisition significantly expands Arrow's footprint in Spain and provides a foundation for future collaboration with CPP Investments, focusing on both current and prospective investment opportunities. CPP Investments retains its current direct economic interest in all of the portfolios managed by Amitra Capital.
Founded in 2019 and based in London and Madrid, Amitra Capital specialises in managing European non-performing loans (NPLs) and real estate investments. With assets under management (AUM) totalling over €4.0 billion, Amitra has established a strong presence in the NPL and real estate markets of Spain and Portugal.
Zach Lewy, Founder, CEO, and Chief Investment Officer of Arrow Global, commented: "This acquisition builds on our existing presence in Spain alongside our other operations, including Elba Finance and Galata, 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 new five-year servicing agreement between Arrow and CPP Investments, emphasising Arrow's commitment to leveraging its expertise in asset management to enhance portfolio performance. Key management personnel from Amitra Capital will continue to lead the company, ensuring continuity and stability in operations under Arrow.
Derek Jackson, Managing Director, Head of European Credit, from CPP Investments, said: "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. 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."
The acquisition of Amitra Capital not only expands Arrow's existing operations in Spain but also strengthens its role as a leading investment and servicing capability in the Iberian market. Coupled with Arrow's leading Portuguese platforms – Whitestar, Norfin, Restart Capital, Viriato and Details Hospitality, Arrow will continue its strategy of having deep expertise in key market segments, including primary and master servicing, while also enhancing its capability to manage complex credit and real estate investments on behalf of its investors across Europe.
Arrow Global is a leading European vertically integrated alternative asset manager specialising in European private credit and real estate.
Founded in 2005, we own 20 best-in-class asset management and servicing platforms which enhance operational efficiencies and maximise the value of underlying assets through disciplined investment approach, underwriting insight and proprietary dealflow. This vertically integrated advantage allows us to create sustainable value throughout market cycles across a range of alternative asset classes, including opportunistic credit, real estate lending and real estate equity.
With the added benefit of key European regulatory licenses, we service approximately €80 billion of third-party AUM. Our strong track record, predominantly with real estate asset-backed investments, spans a broad range of opportunities and has resulted in more than €10 billion being invested over the last 20 years.
We operate across six European geographies with headquarters in London, and have a further 15 offices including Milan, Rome, Lisbon, Porto, Amersfoort, Amsterdam, Luxembourg, Dublin, Manchester, Leeds, and Jersey.
Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Fund in the best interest of the more than 22 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At December 31, 2023, the Fund totalled C$590.8 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Instagram or on X @CPPInvestments.
SOURCE Canada Pension Plan Investment Board
Nick Jones, Director, PR and Communications, Arrow Global, +44 7545 059 442, [email protected]; Steve McCool, Public Affairs and Communications, CPP Investments, +44 7780 224 245, [email protected]
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