Aquarian Holdings is taking a minority stake in life settlements investor Obra Capital.
Aquarian is a diversified holding company with interests in businesses including insurance, asset management, real estate and technology; the firm is replacing Reverence Capital, which has been an investor in Obra since 2019.
“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. “We look forward to working with Obra as it grows and benefitting from the many synergies between our firms.”
Obra Capital – previously Vida Capital until a re-brand in December 2022 – has core investment strategies across insurance special situations, structured credit, asset-based finance and longevity. Over the last four years, the firm has added to its leadership team with several senior-level appointments and has expanded its existing capabilities in structured credit, asset and mortgage-backed securities and strengthened its life settlement platform. The firm is also working towards launching a dedicated CLO platform.
“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 of Obra Capital. “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.”
“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.”
RedBird Capital will maintain its current ownership stake in Obra.