September 25 (Preqin News) – Alternative assets fund manager, Arrow Global Group, has appointed two senior executives to lead its real estate and credit and direct lending operations.
Arrow, which focuses on private credit and real estate in Europe, announced on Monday that Zachary Vaughan will be the Group’s new Head of Real Estate, and Chair of its Real Estate Investment Committee. Vaughan will join from Brookfield Asset Management, where he was CEO of Brookfield REIT. He was previously at CPP Investments and Reichmann International.
Meanwhile, Toni McDermott will serve as Chief Investment Officer of Credit and Direct Lending. McDermott was most recently at Morgan Stanley, APAC, where she was Managing Director of Loan Solutions and Securitization, advising clients on sales, acquisitions, and financing of pools of financial and real estate assets across the APAC region. Prior to that, she was Managing Director at Centerbridge Partners, Europe.
The appointments come amid a period of expansion for Arrow. It recently completed acquisitions of Eagle Street Partners, a real estate asset manager and developer, and Blue Current Capital, an ESG-focused real estate investor, developer, and operator, enabling and accelerating the electrification of commercial fleets. Earlier this month, it launched a real estate platform, Mica Real Estate, in the Netherlands.
The firm has also been expanding its direct lending capabilities. It announced in August that it had acquired Maslow Capital, a leading provider of real estate finance, and has continued to roll out a bridge lending arm launched in 2021.
Arrow is currently raising a real estate equity fund with a €1bn target. Arrow Real Estate Opportunities Fund I held a first close of at €110mn in March 2023. In the same month, it closed its second distressed debt fund, Arrow Credit Opportunities II, at its hard cap of €2.75bn. According to Preqin data, the fund is the second-largest Europe-focused distressed debt fund to close this year, after LCM Credit Opportunities IV, which launched in 2021 and held a €4.1bn final close in April.
Arrow Global services around €70bn of third-party assets under management (AUM) and has €7.8bn of funds under management as of June 30, 2023. Headquartered in London, the firm has 2,500 employees across 15 offices in Europe.
The opinions and facts included within the above do not constitute investment advice. Professional advice should be sought before making any investment or other decisions. Preqin providing the information in this content accepts no liability for any decisions taken in relation to the above.