Arrow Global eyes new 'direct' lending unit in Ireland

'Arrow Global is planning significant investment in Ireland across a range of sectors including commercial lending and property', company said

Arrow owns credit services firm Mars Capital which earlier this week revealed it now manages a total of €9bn in Irish mortgage home loans.

European investment fund Arrow Global plans to unveil a new "direct" lending operation for Irish companies later this year.

The group also owns credit services firm Mars Capital, which earlier this week revealed it now manages a total of €9bn in Irish mortgage home loans and loans to small firms following the recent wave of sales by banks of loan books that for the most part include non-performing loans. 

Mars Capital plans to add 100 jobs as part of the expansion of its loans servicing operation.  

Arrow Global, which specialises in property loans, said it had already committed €140m into Ireland.

"Arrow Global is planning significant investment in Ireland across a range of sectors including commercial lending and property," the company said.

The plans "include the establishment of a direct commercial lending business later this year as well as further investment in credit and real estate opportunities via platforms currently owned by Arrow including Mars and Eagle Street Partners", it said.  

Arrow Global last month bought out Eagle Street, a property investment firm that focuses on offices in Ireland and Britain. 

Eagle Street said it specialised in commercial property, residential, hospitality and life sciences.