Mars Capital sells Irish risk as Arrow buyout heats up

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By Owen Sanderson
29 Apr 2021

Mars Capital, now a subsidiary of Arrow Global, has probably sold controlling positions in two Irish reperforming loan portfolios, securitized in RMBS transactions Grand Canal 1 and 2, with the Grand Canal 1 portfolio rapidly returning to the market in a Morgan Stanley-backed deal announced on Wednesday. The move comes as TDR Capital’s bid for Arrow heats up, with shareholders now ready to vote on approval.

Even before the TDR Capital bid emerged in December, however, Arrow Global had been pushing its “capital light” strategy, moving its business away from pure debt purchasing — in which the firm commits its own capital to buying portfolios on balance sheet — into asset management.

Arrow’s credit ...

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