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NEWS

Arrow Global Acquires Amitra Capital in European Private Credit Push

Arrow Global announced this morning that it has acquired Amitra Capital, a Madrid-based credit manager overseeing around €4 billion of assets.

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Arrow acquired Amitra from Canada Pension Plan Investment Board for an undisclosed amount. CPP will retain its current direct economic interest in the portfolios managed by Amitra, according to a company spokesman.

The deal also includes a new five-year servicing agreement between Arrow and CPP Investments.

“This acquisition builds on our existing presence in Spain alongside our other operations,” said Zach Lewy, CEO, CIO, and Fund Principal at Arrow Global. “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.”

Dereck Jackson, CPP managing director and head of European Credit, said in a press release that CPP’s business will work well with Amitra.

“We have built a strong asset management business in Amitra Capital, which is complementary and valuable to Arrow’s franchise.”

Last month, Lewy told Transacted that private credit still has room to run as an asset class, even after explosive growth in recent years.

“It’s a secular trend and a work in progress in terms of implementation. Everything from bridge lending to construction lending to agricultural and small business lending, specialty mortgages, backing private equity acquisition — 50 years ago, that would all be done by banks. Private debt steps in where you need a real business partner with an operational commercial skill set.”

Arrow’s deal for Amitra is part of a jump in dealmaking for private credit managers. Last week, Brookfield announced an investment in aviation and specialty finance provider Castlelake, while European lender Hayfin, backed by British Columbia Investment Management, has held talks with Antares, Blue Owl, and, as recently as last week, Todd Boehly’s Eldridge Industries over a potential sale.

Bob Clair

Bob Clair is a reporter at Transacted covering private equity and investment banking. He has covered breaking M&A news for several years and is a general assignment freelance reporter for The New York Times, where he shared in a 2021 Pulitzer Prize win.