Arrow Global Group PLC Update on third-party credit servicing mandates
30 Novembre 2020 - 08:00AM
RNS Non-Regulatory
TIDMARW
Arrow Global Group PLC
30 November 2020
30 November 2020
Arrow Global wins third-party credit servicing mandates
totalling GBP4.8bn in 2020 (year to date)
Arrow Global, a leading European investor and asset manager in
secured and unsecured defaulted and non-core loan portfolios and
real estate, is pleased to announce it has won a total of 16
material third-party credit servicing mandates from some of the
world's largest investors in the year to date, equating to GBP4.8bn
of Gross Book Value. This does not include the value of outsourced
arrears management contracts from UK high-street banks/non-bank
lenders where volumes cannot be confirmed at this point. These
mandates require up to 250 allocated, full-time resources to fulfil
valuable, long-term partnership projects.
The servicing contracts have been predominantly awarded to
Arrow's businesses in the UK, Italy and Portugal where we have seen
the swiftest loan owner response to recent economic conditions and
a more proactive outsourcing and asset sale approach by banks,
non-banks and sponsor sellers. Asset servicing mandates cover both
secured and unsecured assets with an additional number of large
master servicing mandate wins by our Zenith business in Milan. The
wins build on Arrow's established presence as one of the leading
participants in European credit management, with over 15 years'
experience and more than GBP60 billion in assets under management.
Given the macroeconomic environment, the Group continues to see
scope for further contract wins, contributing to its capital-light
Asset Management and Servicing revenues.
The news follows other recent success across the Group,
including total capital commitments of EUR1.7bn to Arrow's first
fund, Arrow Credit Opportunities, dedicated to investing in
performing and non-performing European credit sourced through our
Fund and Investment Management business. Most recently, Arrow was
recognised at the UK Credit Strategy Awards, winning in the Best
Outsourcing & Partner Initiative with Virgin Money for the
Onboarding & Customer Experience category.
Commenting, Lee Rochford, CEO at Arrow Global, said: "I am
pleased that the Arrow Global servicing platforms have maintained
their strong growth momentum and continue to secure high-quality
mandates from across Europe. These contract wins reflect our
leading, local expertise and recognise Arrow as a leading partner
in servicing the increasing number of non-core and non-performing
credit portfolios being created as result of ongoing economic
dislocation."
ENDS
Media Contacts
Arrow Global
Nick Jones, Group Head of Corporate Communications
07545 059442
FTI Consulting
Tom Blackwell, Laura Ewart, Ambrose Fullalove
0203 727 1051
ArrowGlobal@fticonsulting.com
About Arrow Global
Established in 2005, Arrow Global is a European investor and
alternative asset manager specialising in non-performing and
non-core assets. We identify, acquire and manage secured and
unsecured loan and real estate portfolios from and on behalf of
financial institutions, such as banks, institutional fund investors
and specialist lenders.
We play an active role in helping financial institutions reduce
their balance sheets and recapitalise in order to increase
mainstream lending. By purchasing and managing non-performing loans
and other non-core assets, we provide valuable capital and
expertise to a growing European market. We are a regulated business
in all five of our European markets.
We invest in this asset class through our fund management
business as well as directly, and also generate revenues from
managing and servicing assets on behalf of third parties.
Arrow's Fund Management Business has total FUM of EUR4.2 billion
as at November 2020.
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END
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