Alteri eyes European retail opportunities with senior hires

Alteri Investors, a joint venture with Apollo, is attempting to capture the increasing opportunities in the European retail market with its latest senior hires.

Alteri Investors, the joint venture managed by Apollo Global Management, has made a number of senior appointments as it begins its latest push to take advantage of the opportunities within the European retail market.

Torsten Waack van Wasen will join Alteri as its chief operating officer at the beginning of next week. Previously, he was a managing director at Alvarez and Marsal, where he was responsible for the leading the firm’s investments in both the online and offline retail industry.

Joining the firm alongside van Wasen is Arnold Vos, who will be tasked with leading Alteri’s investments in the Benelux retail sector. He arrives from Terra Firma Capital Partners, where he had similar responsibility sourcing transactions in retail, leisure and real estate.

Arne Heinrich joins the firm as an associate from the Gores Group.

Gavin George, chief executive of Alteri, said: “These appointments further enhance Alteri’s pan-European experience both from a transactional and operational perspective. From here we look forward to deploying further capital, combining our considerable existing talent with that of our new colleagues.”

Alteri was established in 2014 as an attempt to tap into the opportunities in the retail market in Europe. It invests across the capital structure in both stressed and distressed retailers, where the underlying business is sound but “held back by their funding or structure or retail portfolio issues”, according to a statement from the firm.

In addition, the firm provides asset-backed senior and second lien loans with typical ticket sizes ranging between £15 million and £30 million – but with the possibility of financing larger loans with the assistance of Apollo.

Last year, the firm completed its first direct lending deal, providing a loan to UK retailer Austin Reed.