Debt purchaser Arrow Global has recorded 180 per cent growth since its buyout by RBS Equity Finance last year, according to documents revealed exclusively to Credit Today.
The debt buyer also revealed that it has secured an asset management deal worth £3bn over five years with a statutory body. The company will be managing £1bn of these assets for the first year, with a further £2bn of receivables being placed with Arrow between 2011 and 2015.
Arrow has also completed a string of debt purchase deals in 2010, with a face value totalling more than £800m. These include a £493m onward sale of Iberian assets by a global creditor, a £100m deal with a large telecoms provider last month and another £100m face value purchase from a leading global credit card provider.
In an interview with CT, Arrow Global chief executive Zach Lewy told the magazine that the next chapter for the firm will involve working with clients in more innovative and transparent ways.
He said: "That is the only way to ensure that debt buyers and sellers have sustainable businesses."
Arrow has also made major appointments to the board since the buyout. Former Royal Bank of Scotland chairman Sir George Mathewson was appointed chairman last year while Andrew Birkwood, former director at CarVal Investors, joined the firm in April as chief investment offer.
The group also disclosed operating profits of £8.1m for the full year to December 2009. Its documents show it has achieved zero third party debts, along with 75,000 rehabilitated customer paying accounts.
Arrow was owned by Sallie Mae before RBS Equity Finance became the lead investor in early 2009.