How to build a vertically integrated pan-European investment model

In this Private Debt Investor keynote, Enrico Sanna, CEO Platforms at Arrow Global, offers a detailed perspective on how Arrow is strategically leveraging Europe’s structural fragmentation to unlock substantial mid-market private credit opportunities. Despite decades of integration efforts, European lending remains largely domestic, with over 80 percent of activity confined within national borders. This environment creates inefficiencies and barriers for many, but for Arrow, it presents a compelling opening. With an estimated €14 trillion in local lending opportunities spanning asset-backed, cashflow-based, and other credit types, the mid-market remains materially underserved by banks and traditional lenders.

Arrow’s vertically integrated pan-European model has been purpose-built to navigate this complexity. Through 24 platforms and 4,000 employees across eight Western European markets, Arrow combines deep local presence with operational control and institutional-grade execution. This structure enables the firm to originate, underwrite, manage, and service investments in-house, ensuring alignment, precision, and agility across the entire lifecycle. The model’s strength lies in its ability to consistently source bilateral, off-market deals that are overlooked by larger, less embedded managers.

As Enrico explains:

“Our investors benefit from the combination of local reach and institutional-level underwriting and investment process.”

“We have dedicated teams that source deals, originate, underwrite, asset manage, and service the loans… We literally control the value chain from origination through to exit.”

“Because we manage those assets directly, we have complete visibility into every aspect of the credit positions, offering us a unique and informed perspective.”

Read the full article