Obra Capital has closed its fifth collateralized loan obligation offering, Obra CLO 5, with a total size of $403.6 million, bringing the alternative asset manager’s cumulative CLO issuance to more than $2 billion across five transactions in less than two years.
The transaction represents the latest expansion of Obra’s leveraged finance platform and continues the firm’s push into CLO management as part of its broader credit and alternative investment strategy.
Obra CLO 5 will be managed by Obra CLO Management LLC. The platform operates within Obra’s leveraged finance business, which is led by Scott Macklin, Head of U.S. Leveraged Finance, and Peter Polanskyj, Chief Investment Officer.
Obra launched its CLO platform less than two years ago and has now completed five offerings during that period. The firm said its approach emphasizes credit selection, portfolio construction, and long-term risk management across different market conditions.
The latest transaction further expands Obra’s presence in leveraged credit markets while adding to a broader investment platform spanning insurance and credit-related strategies.
Founded in 2009, Obra Capital develops investment strategies and solutions across insurance and credit verticals. Its capabilities include investing, sourcing, structuring, and servicing across a range of strategies offered through funds and separately managed accounts.
The firm also owns and operates a commercial real estate lending platform, an indirect automobile finance company, and its CLO management business.
As of September 30, 2026, Obra reported approximately $8.6 billion in estimated unaudited assets under management across its registered investment advisers.
Morgan Stanley served as structuring lead and placement agent for Obra CLO 5. Milbank LLP provided legal representation to Obra in connection with the transaction.
The closing underscores Obra’s continued buildout of its CLO franchise and increases the scale of its leveraged finance platform as the firm seeks to deliver differentiated credit investment opportunities for institutional investors globally.
KEY QUOTES:
“Pricing our fifth CLO less than two years after launching the platform reflects both the discipline of our investment process and the durability of the business our team has built. Investors have supported us across a range of market conditions, and our approach has not wavered – rigorous credit selection, thoughtful portfolio construction and a long-term orientation. We are grateful for our partners and remain focused on delivering attractive risk-adjusted returns across market environments.”
Peter Polanskyj, Chief Investment Officer Of Obra Capital
