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Direct Investment  + Alternative Assets  + M&As  |  October 18, 2023
Aquarian Holdings Buys into Re/Insurance Firm Obra Capital
Joe Palmisano
By: Joe Palmisano

Aquarian Holdings Buys into Re/Insurance Firm Obra Capital

Aquarian Holdings has purchased a minority ownership stake in Obra Capital Inc., an insurance and reinsurance-focused alternative asset management firm.

Aquarian Holdings will join as a strategic partner, replacing Reverence Capital, who has been an investor since 2019. RedBird Capital will maintain its current ownership stake.

Obra Capital, founded in 2009 and formerly known as Vida Capital until its rebranding over a year ago, invests in an insurance special situations strategy that includes a specialty reinsurance concentration, as well as longevity insurance positions through life settlements. Obra is also planning to build a 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,” explained Blair Wallace, President and CEO.

Aquarian is also an insurance and reinsurance-oriented investor, with allocations already made to the life and annuities area, including a majority holding in Bermuda-based Somerset Reinsurance.

Aquarian-owned companies, including its insurance and reinsurance investments, held over $16 billion in assets as of September 30.

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Inside The Story

Aquarian HoldingsObra CapitalRedBird Capital

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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