Obra Capital, an asset management firm with a specialized approach to alternative investing, secured new funded and unfunded credit facilities. Proceeds from the new facilities were used to retire Obra’s existing publicly-syndicated debt and provide growth capital to the Obra platform. The investors in the facility consist of a mix of existing and new lenders. Obra’s equity investors include RedBird Capital Partners (“RedBird”) and Aquarian Holdings (“Aquarian”).
Since Blair Wallace joined Obra as President and Chief Executive Officer in October 2021, the company has significantly expanded the breadth and depth of its senior talent and capabilities. Obra now has a differentiated product suite across insurance special situations, longevity solutions, structured and corporate credit, asset-based finance and commercial real estate. In addition to organic expansion, Obra has also recently launched several strategic initiatives to further bolster the platform’s holistic solution set. These include acquiring a life and health insurance carrier, hiring a commercial real estate origination and servicing team, purchasing the assets of a leading institutional credit asset management and investment research firm, purchasing a full service auto-finance platform and launching a CLO management platform and two structured credit ETFs.
Mike Zabik, Partner at RedBird, said, “Refinancing Obra’s legacy capital structure with long-term capital partners represents an important milestone in the firm’s evolution, supporting the company’s growth trajectory and differentiated investment strategy at the intersection of insurance and asset management. Obra’s track record and capability set is appealing to allocators of all types, including insurance carriers, pensions, sovereign wealth funds and large asset managers. We are pleased to welcome new investors to the platform and receive continued support from our existing partners.”
Blair Wallace added, “The strengthening of our balance sheet and access to additional capital will accelerate growth across the Obra platform as we work to generate attractive risk-adjusted returns. Our structuring expertise and experience investing across credit, insurance and associated alternatives allow us to pursue complex investment solutions and operate in less crowded, more nuanced areas of the market. We look forward to building on our reputation as an innovative solutions provider and continuing to capitalize on credit and insurance market opportunities to further establish Obra as a leading alternative asset management platform.”