Aquarian Holdings Enters Into Strategic Partnership with Obra Capital and Acquires Minority Stake
October 16, 2023 – Obra Capital, Inc. (“Obra” or the “Firm”), a specialized alternative asset management firm, today announced that Aquarian Holdings (“Aquarian”) 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 will maintain its current ownership stake. Financial terms were not disclosed.
“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,” said Blair Wallace, President and Chief Executive Officer. “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.”
Founded 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. Over the last four years, Obra has bolstered its leadership team with several senior-level appointments to deepen its expertise across each investment vertical, expanded existing capabilities in structured credit, asset and mortgage-backed securities and into the fundamental credit space, strengthened its life settlement platform, and structured SMA’s for insurance companies to provide investment management services for the legacy liabilities of MSA Safety. With the new capabilities and team expansion, Obra is also working towards launching a dedicated CLO platform.
“Obra continues to present a compelling investment opportunity,” added Mike Zabik, Head of Financial Services at RedBird Capital. “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.”
“This transaction provides Aquarian with access to additional alternative investment capabilities, strengthening our expanding financial services platform,” said Rudy Sahay, founder and Managing Partner at Aquarian. 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. “We look forward to working with Obra as it grows and benefitting from the many synergies between our firms,” Mr. Sahay said.
About Obra Capital
Obra Capital, Inc. is a specialized alternative asset management firm that provides investment products and solutions across insurance special situations, structured credit, asset-based finance, and longevity. The Firm aims to generate long-term value and attractive returns for investors through a variety of vertically integrated commingled funds and separate accounts. With capabilities in investing, originating, structuring, and servicing, Obra provides differentiated investment opportunities for investors globally. As of August 31, 2023, Obra Capital Management, LLC’s estimated unaudited amount of assets under management was approximately $4.4 billion. For more information about Obra, please visit www.obra.com.
About Aquarian Holdings
Aquarian Holdings is a diversified holding company with interests in businesses including insurance, asset management, real estate, and technology. We draw on our decades of collective experience to provide debt and equity capital solutions that meet the objectives of our partners and portfolio companies. For more information, please visit www.aquarianlp.com.
About RedBird Capital Partners
RedBird Capital Partners is a private investment firm that builds high-growth companies and provides strategic capital solutions to founders and entrepreneurs. Founded in 2014 by Gerry Cardinale, RedBird integrates sophisticated private equity investing with a hands-on business building mandate that focuses on three core industry verticals – Financial Services, Media & Entertainment, and Sports & Experiential Consumer. Throughout his 30-year investment career, Cardinale has partnered with founders and entrepreneurs to build some of the most iconic growth companies in their respective industries. The firm currently manages approximately $10 billion in assets on behalf of a global group of blue chip institutional and family office investors. For more information, please go to www.redbirdcap.com.