On May 13, 2024, Arrow Global Group Limited, a prominent alternative asset manager specializing in credit and real estate, completed the acquisition of Amitra Capital Limited from Canada Pension Plan Investment Board (CPP Investments). This strategic move broadens Arrow’s operations in Spain and lays the groundwork for ongoing collaboration with CPP Investments on existing and new investment opportunities, while CPP Investments maintains its economic interests in portfolios managed by Amitra.

Amitra Capital, established in 2019 with offices in London and Madrid, manages over €4.0 billion in assets, focusing on European non-performing loans and real estate investments, primarily in Spain and Portugal. Zach Lewy, Arrow’s CEO, highlighted the acquisition’s enhancement of Arrow’s Spanish market presence and its potential to foster a broader strategic partnership with CPP Investments.

The deal includes a new five-year servicing agreement between Arrow and CPP Investments, underscoring Arrow’s commitment to utilizing its asset management expertise. Key management from Amitra will remain, ensuring operational continuity and stability.

Derek Jackson, CPP Investments’ Managing Director of European Credit, noted that the sale aligns with Arrow’s extensive experience in real estate asset-backed investments and will strengthen both companies. The acquisition not only augments Arrow’s presence in the Iberian Peninsula but also complements its Portuguese operations, enhancing its comprehensive servicing capabilities and ability to manage complex investments across Europe.