Fund manager swoops in takeover deal for real estate asset manager
Manchester-based fund manager, Arrow Global has acquired Eagle Street Partners, a real estate asset manager and developer focused primarily on the UK and Ireland, for an undisclosed sum.
The acquisition will support one of Arrow Global’s core investment strategies, which, alongside direct lending and opportunistic credit, focuses on European real estate. London-based Eagle Street’s experienced team is led by co-founder and CEO, Shane Scully and Peter Gavican, COO.
The acquisition of Eagle Street builds on Arrow’s long term strategic relationship with Eagle Street since its inception and provides Arrow with additional origination and asset management capabilities in the UK and Ireland, two key European real estate markets.
Founded in 2020, Eagle Street has invested in UK and Irish real estate on behalf of some of the world’s leading investors across the residential and office sectors. Eagle Street’s current portfolio has a total GDV of €1.1bn. With offices in Dublin and London, Eagle Street’s team has deep expertise in sourcing, underwriting, development, and platform building.
Shane Scully, co-founder and CEO of Eagle Street, said: “We are proud to be joining the Arrow Global team, using our expertise and experience to further the ambitions of both parties.
“Since founding Eagle Street we have focused on commercial property, residential, hospitality and life sciences which can be acquired or created to deliver attractive returns. In Arrow Global, we have found a partnership that will accelerate our strategy allowing us to acquire, develop, refurbish, and manage attractive real estate assets across our target markets.”
The acquisition of Eagle Street complements Arrow Global’s existing pan-European real estate offering, which includes Maslow Capital in the UK, Norfin in Portugal, Vesting Finance in the Netherlands, and both Sansedoni and Europa Investimenti in Italy.
Marc Fuhrmann, principal, real estate, at Arrow Global, said: “We are confident that deepening our strategic relationship with Eagle Street will provide Arrow with incremental proprietary deal flow and strong local execution capabilities in the UK and Ireland.
“Eagle Street is a highly respected real estate investor and asset manager, and we look forward to collaborating on future real estate opportunities.”
He added: “We expect Eagle Street to continue to identify attractive investment opportunities driven by the current dislocation in property markets and the systemic undersupply of housing stock, energy transition, and the increasing role of private capital in real estate development.”