Alternative asset management firm Obra Capital has secured new funded and unfunded credit facilities, the proceeds of which were used to retire the firm’s existing publicly syndicated debt and provide growth capital to the Obra platform.
Investors in the facility consist of existing and new lenders, with equity investors including RedBird Capital Partners and Aquarian Holdings.
According to a press statement, since Blair Wallace joined Obra as President and Chief Executive Officer in 2021, the company has expanded its products across insurance special situations, longevity solutions, structured and corporate credit, asset-based finance and commercial real estate.
Obra also acquired a life and health insurance carrier, hired a commercial real estate origination and servicing team, purchased the assets of a leading institutional credit asset management and investment research firm, purchased a full-service auto-finance platform and launched a CLO management platform as well as two structured credit ETFs.
Mike Zabik, Partner at RedBird, noted that Obra appealed to “allocators of all types, including insurance carriers, pensions, sovereign wealth funds and large asset managers”.
Obra Capital’s estimated unaudited amount of AUM across Obra’s registered investment advisors was approximately $4.9bn as of 31 July 2024.
