£1.5bn Arches update: Terra Firma lines up backing as Blackstone has a wobble

Guy Hands’ Terra Firma Capital Partners is lining up backers for its bid for Network Rail’s £1.5bn Arches portfolio.

The private equity investor is in talks with both Henderson Park and Partners Group to fund the prospective purchase.

Partners Group, the $78bn Swiss investor, is a long-standing investor alongside Terra Firma and in its funds, as well as those of other private equity real estate managers. It has traditionally been a limited partner into third-party funds but is increasingly investing in direct property and is currently developing the 240,000 sq ft 80 Fenchurch Street, EC3, with