Discipline at the Point of Dislocation
In the May edition of Alternative Credit Investor, Zach Lewy, Founder, CEO and Chief Investment Officer of Arrow Global, sets out a disciplined framework for investing in European distressed credit. Drawing on two decades of experience across private credit and real estate, Zach explains why operational edge, capital structure discipline and cycle awareness are critical to delivering resilient returns through dislocation.
At a time when many institutional portfolios remain heavily exposed to growth assets and market sentiment, Zach outlines how distressed credit can offer both downside protection and genuine diversification when executed with focus and structural control.
“Rather than relying on rising markets, elevated valuations or benign exit conditions, the investor is essentially underwriting asset support, legal structure and operational intervention.”
“Distressed credit can provide both compelling absolute returns and a degree of counter cyclical diversification.
“We aim to be last money in and first money out.”
Read the full article here.
Zach Lewy
Founder, CEO and CIO
Zach has more than 25 years of executive experience in investment management and asset servicing. He founded Arrow Global in 2005 and has since led the business as Group CEO and CIO, transforming it into a leading Pan-European investment manager specialising in private credit and real estate. Under Zach’s leadership, Arrow manages more than €125 billion of serviced assets across Western Europe and generates alpha across alternative asset classes, including opportunistic credit, real estate, and lending.
Zach has supervised over 3,000 deals at Arrow and plays a key role as lead Principal in Arrow’s fund manager. Prior to founding Arrow, he was an Officer of Sallie Mae, a Director at Vertex (the BPO division of United Utilities), and a Founder and Executive Director of 7C (a U.K. BPO company acquired by Vertex). He has also served as Chair of the U.K. Debt Buyers Association and the Chair of SCOR. In 2010, he was named an Ernst and Young Entrepreneur of the Year.
Zach graduated from Princeton University with a BA in Economics with Honours and a Certificate in Applied and Computational Mathematics with Honours.