Obra | Jotup

Scott Macklin Joins Obra Capital as Head of US Leveraged Finance

Retrieved on:

Thursday, January 4, 2024

NEW YORK, Jan. 04, 2024 (GLOBE NEWSWIRE) -- Obra Capital, Inc. (“Obra”), an asset management firm with a specialized approach to alternative investing, today announced that Scott Macklin has been appointed Head of US Leveraged Finance. In this role, Macklin will be responsible for managing Obra’s CLO management platform, including driving investment strategy and portfolio construction, deal sourcing and execution, risk management and market research. Macklin will be based in New York and report to Peter Polanskyj, Head of Structured Credit.

Key Points:

NEW YORK, Jan. 04, 2024 (GLOBE NEWSWIRE) -- Obra Capital, Inc. (“Obra”), an asset management firm with a specialized approach to alternative investing, today announced that Scott Macklin has been appointed Head of US Leveraged Finance.
Macklin will be based in New York and report to Peter Polanskyj, Head of Structured Credit.
Earlier in his career, Macklin held senior roles at Scoggin Capital Management and Marathon Asset Management, and he began his career at Lehman Brothers.
Macklin holds a Bachelor of Arts double major in Economics and Philosophy from Middlebury College, where he graduated Magna Cum Laude.

Obra Capital Acquires Unified Life Insurance Company

Retrieved on:

Wednesday, January 3, 2024

Longevity, Acquisition, Policy, Unified, Mortality, Obra, Insurance, Life, Financial services

NEW YORK, Jan. 03, 2024 (GLOBE NEWSWIRE) -- Obra Capital, Inc. (“Obra”), an asset management firm with a specialized approach to alternative investing, today announced that it has completed the acquisition of Unified Life Insurance Company (“Unified”).

Key Points:

Long-established life and health insurance carrier and a leader in reinsurance M&A, with 49 associated licenses
NEW YORK, Jan. 03, 2024 (GLOBE NEWSWIRE) -- Obra Capital, Inc. (“Obra”), an asset management firm with a specialized approach to alternative investing, today announced that it has completed the acquisition of Unified Life Insurance Company (“Unified”).
Founded in 1986, Unified is a life and health insurance carrier with approximately 100,000 active policy holders, and 49 associated licenses.
Obra is a specialized asset management firm and one of the largest investors in life settlement longevity assets.
Unified’s existing insurance products and operating capability provide Obra with immediate access to life insurance markets and expands its existing longevity footprint.

David Posnick and Anne Buchanan join Preston Capital

Retrieved on:

Monday, November 27, 2023

Preston Capital LLC (“Preston” or the “Firm”), an Aliso Viejo-based longevity asset manager announced today two key hires as the Firm launches a new commingled investment vehicle.

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Preston Capital LLC (“Preston” or the “Firm”), an Aliso Viejo-based longevity asset manager announced today two key hires as the Firm launches a new commingled investment vehicle.
Joining Preston are David Posnick, former Senior Managing Director at Blackstone, Inc. ( BX ) and Anne Buchanan, former Head of Distribution for Obra Capital (formerly known as Vida Capital).
Mr. Posnick had been with Blackstone Credit (previously known as GSO Capital Partners) since 2007.
“Having Anne join Preston was one of the easiest decisions we’ve ever made,” remarked Jonathan Hogan, Preston’s President and CFO.

Aquarian Holdings Enters Into Strategic Partnership with Obra Capital and Acquires Minority Stake

Retrieved on:

Monday, October 16, 2023

Partnership, Revere Capital Advisors, CLO, Redbird, Obra, Insurance, Partner (business rank), MSA Safety, Growth, Longevity, Safety, Financial services, Aquarian

NEW YORK, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Obra Capital, Inc. (“Obra” or the “Firm”), a specialized alternative asset management firm, today announced that Aquarian Holdings (“Aquarian”) will join as a strategic partner and has acquired a minority equity ownership stake, replacing Reverence Capital who has been an investor since 2019.

Key Points:

NEW YORK, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Obra Capital, Inc. (“Obra” or the “Firm”), a specialized alternative asset management firm, today announced that Aquarian Holdings (“Aquarian”) will join as a strategic partner and has acquired a minority equity ownership stake, replacing Reverence Capital who has been an investor since 2019.
RedBird Capital will maintain its current ownership stake.
“Obra continues to present a compelling investment opportunity,” added Mike Zabik, Head of Financial Services at RedBird Capital.
“We look forward to working with Obra as it grows and benefitting from the many synergies between our firms,” Mr. Sahay said.

Obra Capital Completes Acquisition of KDP Assets

Retrieved on:

Friday, July 21, 2023

Insurance, CLO, Senior, KDP, Research, Lisp (programming language), Acquisition, Longevity, Financial services, Obra

NEW YORK, July 21, 2023 (GLOBE NEWSWIRE) -- Obra Capital, Inc. (“Obra”), a specialized alternative asset management firm that provides investment products and solutions across insurance special situations, structured credit, asset-based finance, and longevity, today announced that it has completed the acquisition of the assets of KDP, LLC and its affiliated companies (“KDP”). KDP is a leading 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 industry-leading wealth managers, large public pension funds, and other leveraged finance investors.

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Expands Obra’s Existing Capabilities in Structured Credit, and Asset and Mortgage-Backed Securities into Fundamental Credit Space
NEW YORK, July 21, 2023 (GLOBE NEWSWIRE) -- Obra Capital, Inc. (“Obra”), a specialized alternative asset management firm that provides investment products and solutions across insurance special situations, structured credit, asset-based finance, and longevity, today announced that it has completed the acquisition of the assets of KDP, LLC and its affiliated companies (“KDP”).
KDP is a leading 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 industry-leading wealth managers, large public pension funds, and other leveraged finance investors.
“This is an exciting day for Obra as we complete the acquisition,” said Blair H. Wallace, President and Chief Executive Officer of Obra.

R&Q and Obra invest in Joint Venture to acquire legacy liabilities of MSA Safety

Retrieved on:

Thursday, January 5, 2023

Asbestos, Risk, R, MSA Safety, Insurance, Trauma, MSA, Safety, Bank, Financial services, Obra

NEW YORK, Jan. 05, 2023 (GLOBE NEWSWIRE) -- R&Q Insurance Holdings Ltd. (“R&Q”) and Obra Capital, Inc. (“Obra”) today announced that they have acquired, through a newly formed joint venture, a wholly owned subsidiary of global safety equipment manufacturer MSA Safety Incorporated (“MSA Safety”).

Key Points:

NEW YORK, Jan. 05, 2023 (GLOBE NEWSWIRE) -- R&Q Insurance Holdings Ltd. (“R&Q”) and Obra Capital, Inc. (“Obra”) today announced that they have acquired, through a newly formed joint venture, a wholly owned subsidiary of global safety equipment manufacturer MSA Safety Incorporated (“MSA Safety”).
MSA Safety contributed approximately $341 million in cash to the Company, in addition to related insurance assets, and the joint venture contributed $35 million.
The transaction has enabled MSA Safety to remove all legacy cumulative trauma product liability reserves, related insurance assets, and associated deferred tax assets of the divested subsidiary from its balance sheet.
William Spiegel, R&Q’s Executive Chairman, said: “We are pleased to form a joint venture with Obra to acquire and professionally manage these legacy liabilities, providing MSA Safety with a complete finality solution.

Obra Capital Completes Super Priority Secured Debtor-In-Possession Credit and Security Agreement with GWG Holdings, Inc.

Retrieved on:

Tuesday, December 20, 2022

Magna, LP, Chapter 11, Title 11, United States Code, Bankruptcy, Quinn Emanuel Urquhart & Sullivan, GWG, Insurance, United States bankruptcy court, Proskauer Rose, Security (finance), Bank, Financial services, Obra

Obra, through Vida Insurance Credit Opportunity Fund III, LP and its related affiliates, agreed to provide a term loan credit facility in an initial aggregate principal amount of approximately $564 million and a revolving credit facility in an aggregate principal amount of up to $40 million.

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Obra, through Vida Insurance Credit Opportunity Fund III, LP and its related affiliates, agreed to provide a term loan credit facility in an initial aggregate principal amount of approximately $564 million and a revolving credit facility in an aggregate principal amount of up to $40 million.
This is the firm’s largest transaction in its twelve-year history and we look forward to continuing to deploy capital in other situations where Obra has a significant edge in supporting counterparties and driving returns for our investors.”
As part of the agreement, GWG has agreed that Obra’s wholly owned subsidiary, Magna Servicing LLC, will provide servicing for the GWG portfolio of life settlement assets.
With this new servicing assignment, Magna expects to service over $10 billion of life insurance policies for Obra and third-party investors.
Quinn Emanuel Urquhart & Sullivan LLP, and Proskauer Rose LLP acted as legal counsel to Obra and Moelis & Company LLC acted as Obra’s financial advisor.

MSA Safety Announces Divestiture of its Subsidiary Holding Legacy Liabilities

Retrieved on:

Thursday, January 5, 2023

PITTSBURGH, Jan. 5, 2023 /PRNewswire/ -- Global safety equipment manufacturer MSA Safety Incorporated ("MSA Safety" or the "Company") (NYSE: MSA) today announced that it has divested a wholly owned subsidiary that holds legacy product liability claims relating to coal dust, asbestos, silica, and other exposures, to a joint venture between R&Q Insurance Holdings Ltd. ("R&Q") and Obra Capital, Inc. ("Obra"). In connection with the closing, MSA Safety contributed $341 million in cash and cash equivalents, while R&Q and Obra contributed an additional $35 million.

Key Points:

In connection with the closing, MSA Safety contributed $341 million in cash and cash equivalents, while R&Q and Obra contributed an additional $35 million.
As a result of the transaction, MSA Safety has removed all legacy cumulative trauma product liability reserves, related insurance assets, and associated deferred tax assets of the divested subsidiary from its balance sheet.
Nish Vartanian, MSA Safety Chairman, President, and Chief Executive Officer said, "We are pleased to complete the sale of this subsidiary to R&Q and Obra, trusted specialist partners with proven track records of managing legacy matters.
Jefferies acted as exclusive financial advisor to MSA Safety in connection with the transaction, with Sidley Austin LLP acting as legal counsel.

Vida Capital Rebrands to Obra Capital

Retrieved on:

Wednesday, December 14, 2022

Longevity, Reward, Insurance, CLO, Investment, History, Risk, Bank, Risk management, Obra

NEW YORK, Dec. 14, 2022 (GLOBE NEWSWIRE) -- Vida Capital, Inc. (“Vida”), a portfolio company of RedBird Capital Partners and Reverence Capital Partners, today announced a corporate rebranding, which includes the changing of its name to Obra Capital, Inc. (the “Company” or “Obra”), as part of the Company’s ongoing business evolution.

Key Points:

NEW YORK, Dec. 14, 2022 (GLOBE NEWSWIRE) -- Vida Capital, Inc. (“Vida”), a portfolio company of RedBird Capital Partners and Reverence Capital Partners, today announced a corporate rebranding, which includes the changing of its name to Obra Capital, Inc. (the “Company” or “Obra”), as part of the Company’s ongoing business evolution.
For more information about Obra and to view the new Obra branding, please visit www.obra.com.
Obra Capital, Inc. is an investment firm specializing in insurance special situations, structured credit, asset-based finance, and longevity with $3.9 billion in assets under management.
With capabilities in investing, originating, structuring, and servicing, Obra provides differentiated investment opportunities and capital solutions for investors globally.

ASANTE PROVIDES OPERATIONS UPDATE

Retrieved on:

Wednesday, October 12, 2022

Asante plans to increase throughput to 250,000 tonnes ore per month by Q1 2023.

Key Points:

Asante plans to increase throughput to 250,000 tonnes ore per month by Q1 2023.
(Alberta and Ontario) Mining and Metallurgy, President and CEO of Asante, who is a "qualified person" under NI 43-101.
Asante is a gold exploration, development and operating company with a high-quality portfolio of projects and mines in Ghana.
Asante has an experienced and skilled team of mine finders, builders and operators, with extensive experience in Ghana.