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The Abu Dhabi Investment Authority (ADIA) has committed $400 million to support Arrow Global’s European real estate lending strategy.
The London-based alternative asset manager said the ADIA deal, done through a wholly owned subsidiary of the UAE sovereign wealth fund, expands on another partnership between the two entities where an ADIA subsidiary is already an existing investor in Arrow Global’s opportunistic credit strategy.
Arrow said its lending strategy allows it to support real estate investors and developers throughout the lifecycle of their projects, with the aim to deliver risk-adjusted returns across market cycles.
“This agreement with ADIA to commit to our flagship European real estate lending strategy comes at an ideal moment for living sector assets,” said Zachary Lewy, Founder, CEO and Chief Investment Officer, Arrow Global.
“In a market that is looking to private credit lenders for capital, this is a prime opportunity to provide senior secured capital to borrowers delivering high-quality, liquid assets that are in short supply and high demand.”
Arrow owns 22 platform capabilities across Europe including Maslow Capital and has €95 billion ($103 billion) in servicing assets under management (AUM), with recent deals including the structuring of a £29 million bridge loan to refinance a recently completed 35-flat residential development in London, and a £129 million loan for the development of a 477-apartment complex in Manchester.
(Writing by Bindu Rai, editing by Brinda Darasha)