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

Jagan Pisharath


Jagan Pisharath is a Partner 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.

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.

Jay Yook

Chief Operating Officer

Jay Yook is Chief Operating Officer of Aquarian Holdings.

Prior to joining Aquarian, he served as Head of Transformation at the hedge fund Bridgewater Associates, responsible for the firm’s largest and most complex corporate initiatives, reporting to the Co-Chief Executive Officer. Over his 12 years at Bridgewater, he held several other senior leadership roles in technology, operations, and strategic partner management. He joined Bridgewater from McKinsey, where he served as an Engagement Manager, and began his career at Deloitte.

He earned his M.B.A. from Harvard University and his B.S.E. from Princeton University.

Ben Goodman

General Counsel

Ben Goodman is General Counsel of Aquarian Holdings. Mr. Goodman is an experienced corporate finance attorney and was previously a Senior Managing Director and Head of Legal Transactions at Guggenheim Partners. He worked in the Capital Markets group at Weil, Gotshal & Manges LLP in New York and began his career in the Business and Finance department at Ballard Spahr LLP in Philadelphia.

He earned a J.D. from William & Mary Law School and a B.A. in Classical Studies from the College of William & Mary.

Wen Liu

Chief Actuary and Principal

Wen Liu is Chief Actuary and a Principal at Aquarian Holdings. Previously, Mr. Liu was a Senior Consultant at Oliver Wyman. He was an Associate Vice President and Actuary at Vantis Life, and an Actuary at ING.

He earned his B.Sc. in Economics from the University of Toronto.

Scott MacKenzie


Scott MacKenzie is a Principal at Aquarian Holdings. Mr. MacKenzie previously served as a Partner at Waypointe, a Greater China-focused public equity manager. Prior to Waypointe, he was a member of the High-Yield Corporate Credit Group at Guggenheim Partners and began his career at ISI Group, where he was an Associate Managing Director.

He earned his B.A. from Williams College and is a CFA charterholder.

Nipun Dua


Nipun Dua is a Principal at Aquarian Holdings. Previously, Mr. Dua was a Vice President in the Structured Products Group at PJT Partners, where he focused on special situations and financing of complex assets through bespoke structured solutions. Prior to that, he was an associate in the Structured Solutions Group at Morgan Stanley and began there as an analyst in the Financial Institutions Regulatory Capital Solutions Group.

He earned his B.A. from Dartmouth College.

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.

© 2023, Aquarian Holdings LLC.