Leadership Team

Rudy Sahay

Founder and Managing Partner

Rudy Sahay is Founder and Managing Partner of Aquarian Holdings and Chairman of Investors Heritage Life Insurance Company. He is also Co-Founder of 54 Madison Partners, a real-estate private equity investment firm. He was a founding member of the principal investments group and real-estate private equity group at Guggenheim Partners. He also served as Co-Head of Guggenheim’s venture-capital and growth-equity investment platform.

Mr. Sahay joined Guggenheim from private equity firm H.I.G. Capital. He served as an adviser on emerging-markets investments to Albright Capital Management, the private investment fund of former Secretary of State Madeleine Albright, and as an investment professional at Jupiter Partners, a middle-market private equity firm. He began his career as a consultant for The Boston Consulting Group.

He received an M.B.A., with honors, from The Wharton School at the University of Pennsylvania and an A.B., cum laude, from Harvard University.

John Frye

Operating Partner

John Frye is an Operating Partner at Aquarian Holdings. Mr. Frye previously served as Chief Strategy Officer at Advisors Excel, a leading insurance marketing firm. He served as Chief Financial Officer at Security Benefit and its life insurance subsidiaries.

He began his career with General Electric, where he spent 20 years in numerous senior positions at GE Capital, the company’s financial services business. He served as Chief Financial Officer for both the GE Employers Reassurance Business – a $25 billion life and health insurance business – and GE’s commercial insurance business, responsible for covering medical, municipal, special lines and catastrophic risk, as well as GE’s European fleet leasing business.

He earned a B.A. in Finance from Michigan State University.

Mark Connolly

General Counsel

Mark Connolly is General Counsel of Aquarian Holdings. Mr. Connolly previously served as Counsel at Guggenheim Partners.

He received a J.D. from William & Mary Law School and an A.B. from Brown University.

Robert Yingling

Chief Financial Officer

Robert Yingling is Chief Financial Officer at Aquarian Holdings. Mr. Yingling has served in senior executive roles across a range of industries, and chaired the Audit Committee at Gleacher & Co. A Certified Public Accountant, he began his career at Arthur Andersen.

He earned an M.B.A. from the Columbia Business School and a B.S. in Accounting at Lehigh University.

Jagan Pisharath


Jagan Pisharath is a Principal at Aquarian Holdings. Mr. Pisharath previously served as a Research Analyst at Point72 Asset Management and Vice President at Nomura Securities, focused on public equities. He was also a Consultant with The Boston Consulting Group, working with a range of Fortune 50 companies, and began his career in investment banking and private equity, serving as an Associate at H.I.G. Capital and Analyst at Citi Investment Banking.

He earned an M.B.A. from The Wharton School at the University of Pennsylvania and a B.A. from Rutgers University.

Anthony Lacavaro


Anthony Lacavaro is a Principal at Aquarian Holdings, where he heads marketing and communications. Mr. Lacavaro is also an advisor to several start-up ventures in the artificial intelligence, data security, and digital media spaces. He was previously a Managing Director at Guggenheim Partners, where he served as Head of Corporate Communications. Prior to that, he was an Executive Director at Morgan Stanley. He began his career as a journalist covering asset managers, financial markets, and technology.

He earned an M.F.A. in English from the University of Massachusetts, Amherst, and a B.A. from Hamilton College.

Seung Hyun Ko

Vice President

Seung Hyun Ko is a Vice President at Aquarian Holdings. Mr. Ko previously served as a Director at New York Life Investment Management (NYLIM), focusing on development and execution of corporate strategy and strategic M&A transactions. Prior to joining NYLIM, he served as an Assistant Vice President within the Investment Banking Strategy and Ventures group at Credit Suisse, focusing on corporate strategy development and principal strategic investments in financial institutions. He began his career as an Analyst within the Investment Banking Division of Credit Suisse.

He earned a B.S. from Brigham Young University with dual majors in Economics and Information Systems.

© 2019, Aquarian Holdings LLC.