Obra Capital, a specialized alternative asset management firm that provides investment products and solutions across insurance special situations, structured credit, asset-based finance and longevity, completed the acquisition of the assets of KDP and its affiliated companies. KDP is an independent asset management and investment research firm specializing in high-yield bonds and leveraged loans with a strong focus on rigorous, bottom-up credit analysis. Obra looks forward to welcoming KDP’s clients including wealth managers, large public pension funds and other leveraged finance investors.
“This is an exciting day for Obra as we complete the acquisition,” Blair H. Wallace, president and CEO of Obra, said. “This transaction supports Obra’s expansion of our existing liquid markets capabilities in structured credit, and asset and mortgage-backed securities, into the fundamental credit space. By combining KDP’s established research with Obra’s diversified asset management capabilities, we expect to expand and augment our product suite to include the issuance of CLOs, where we are already an active investor, and more liquid commingled fund vehicles with a focus on fundamental credit to add to our existing structured and private strategies.”
“We appreciate Obra’s support and recognition of KDP’s business fundamentals and we look forward to becoming part of the Obra team,” Kingman D. Penniman, president and CEO of KDP, said. “Obra’s specialized private markets transactions capabilities and structured product expertise are a natural fit with KDP’s extensive public high-yield and leveraged loan markets knowledge and experience. We look forward to integrating KDP’s leveraged finance research and consulting services and its proprietary forward-looking default risk and loan recovery rankings into Obra’s suite of leading investment products and solutions.”
“Combining Obra’s sophisticated understanding of structured products and private markets spaces with the traditionally defensive approach and decades of experience that KDP brings to the leveraged finance markets, will allow us to offer differentiated products both in the CLO space as well as in other parts of the leveraged finance market,” Peter Polanskyj, senior managing director and head of structured credit at Obra, said. “We believe this transaction will be increasingly impactful in a market that continues to present credit investors with a variety of challenges on a seemingly daily basis.”
