Obra Capital (a specialized alternative asset management firm) recently announced that Aquarian Holdings will join as a strategic partner and has acquired a minority equity ownership stake, replacing Reverence Capital – who has been an investor since 2019. RedBird Capital is going to maintain its current ownership stake. The financial terms were not disclosed.
Launched in 2009, Obra has evolved into a specialized alternative asset manager with core investment strategies across insurance special situations, structured credit, asset-based finance, and longevity. In the last four years, Obra has strengthened its leadership team with several senior-level appointments to strengthen its expertise across each investment vertical, expanded existing capabilities in structured credit, asset, and mortgage-backed securities, and into the fundamental credit space – advancing its life settlement platform and structured SMA’s for insurance companies to provide investment management services for the legacy liabilities of MSA Safety. Obra is also working towards launching a dedicated CLO platform through the new capabilities and team expansion.
The assets controlled by Aquarian-owned companies, including insurance and reinsurance companies as well as its asset management groups, exceed $16 billion as of September 30, 2023.
KEY QUOTES:
“This is an exciting milestone for Obra as we continue to build momentum around our core business and differentiated strategies to deliver strong returns for our clients. Obra has experienced tremendous growth over the last few years, and we are grateful for the support and resources that RedBird has added as we’ve carved a distinct position within our industry. We look forward to expanding our partnership with RedBird and to add Aquarian as a strategic partner as we continue to enhance our platform for long-term value creation for stakeholders.”
— Blair Wallace, President and Chief Executive Officer
“Obra continues to present a compelling investment opportunity. For the past few years, Obra has been diligently building its investment infrastructure, diversifying its product set and expanding its team to establish a strong foundation to capitalize on the growth of the industry. As we look towards this next chapter for Obra, we are happy to welcome Aquarian as our new strategic partner, bringing with them complementary services and synergies to help expand Obra’s current platform.”
— Mike Zabik, Head of Financial Services at RedBird Capital
“This transaction provides Aquarian with access to additional alternative investment capabilities, strengthening our expanding financial services platform.”
— Rudy Sahay, founder and Managing Partner at Aquarian
