Alternative asset manager Arrow Global Group, which specialises in credit and real estate, has acquired Amitra Capital from Canada Pension Plan Investment Board (CPP Investments).
The deal 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 bn, 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, 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.'
Coupled with Arrow’s leading Portuguese platforms – Whitestar, Norfin, Restart Capital, Viriato and Details Hospitality, Arrow said it would continue its strategy of enjoying 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.
