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Arrow Global, the Manchester-based European investor and alternative asset manager in credit and property, has launched Bergen Finance, a new bridge lending business dedicated to the UK short-term property loan market.
Bergen Finance will seek to take advantage of a market that has grown more than 400% since 2013 to exceed £5bn a year.
It will provide funding to UK businesses with short-term capital needs, offering good risk-adjusted returns rooted in the strength of the underlying property market.
Spearheading Bergen Finance will be Andrew Ward and Adrian Hogan who will join the firm as Managing Director and Director, respectively.
Andrew has over 25 years of corporate and corporate lending experience with Lloyds TSB, Five Arrows (Rothschild) and Credit Agricole.
More recently, Andrew founded two independent lenders, overseeing all originations and approving the underwriting of each commercial loan.
Adrian has nearly a decade of secured lending experience and has worked at a number of financial institutions, including founding and growing the Paddington Street Bridge Lending business.
Bergen Finance will be headquartered in London.
Jim Appleby, UK CEO of Arrow Global, said: “There is a scalable market opportunity to lend to businesses that are experiencing financial difficulties such as short term cash flow, overcapacity or supply chain issues. , as well as positive growth and acquisition opportunities. .
“We are excited about the opportunity and adding short-term property transition capability to our UK offering, which also includes our existing Capquest, Drydensfairfax and Mars Capital platforms.”