Aquarian Holdings will join Obra Capital as a strategic partner and has acquired a minority equity ownership stake, replacing Reverence Capital, which has been an investor since 2019. RedBird Capital will maintain Obra’s 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,” Blair Wallace, president and CEO, said. “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,” Mike Zabik, head of financial services at RedBird Capital, said. “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.”
Assets controlled by Aquarian-owned companies, including insurance and reinsurance companies as well as its asset management groups, exceeded $16 billion as of Sept. 30, 2023.
“This transaction provides Aquarian with access to additional alternative investment capabilities, strengthening our expanding financial services platform,” Rudy Sahay, founder and managing partner at Aquarian, said. “We look forward to working with Obra as it grows and benefitting from the many synergies between our firms,” Sahay said.
