Arrow Global “on track” for £230m portfolio acquisitions in 2018

The results come as the company announced it had acquired Portuguese real estate investment vehicle Norfin Investimentos.

Norfin has €1.5bn (£1.33m) of assets under management. For the year ended December 31, 2017, Norfin’s audited revenues were €6.7m, with €2.1m profit before tax. Total assets were €12.2m.

In its statement to market, Arrow said it had reached £145m in portfolio acquisitions at end of June, with volumes “running ahead of 2017; well balanced by geography and asset class”.

Forecast returns net of collection costs remain in line with internal rate of returns target, with 16 percent achieved in the first half of 2018.

Arrow chief executive Lee Rochford said: “Trading in the second quarter has continued to be in line with expectations, with the positive pricing environment we noted in the first quarter continuing into the period and resulting in strong returns.

“We are delighted to announce this strategic acquisition that further strengthens Arrow Global’s market position in Portugal and adds valuable real estate asset management capabilities to the group.”