TDR Capital is exploring a sale of Arrow Global, the British private credit manager it took private five years ago, according to Bloomberg. They cautioned the process remains at an early stage and that TDR could yet decide to keep Arrow.

A sale would mark an exit from an asset TDR has held since 2021, when it acquired Arrow through a take-private that valued the company’s equity at £563m, or about $761m at the time. Founded in 2005 by Zach Lewy and based in London, Arrow specialises in higher-yielding, niche corners of the credit market, among them European non-performing loans.

It also runs a third-party fund management arm and has pushed into real estate lending in recent years. According to its website, the firm services around $144bn (€125bn) of assets. Arrow’s blend of loan servicing, fund management, and niche origination could appeal to that pool of buyers, though an early-stage review of this kind is far from certain to produce a deal.