TSL Express Daily News

Obra Developed Substantial Analytical and Portfolio Management Infrastructure to Support Growth of CLO Business

Closed Initial Portfolio of Operating Company Alternative Letters of Credit

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.

Macklin brings over 27 years of experience to the firm. Most recently, Macklin served as Senior Vice President, Director of Leveraged Loans for AllianceBernstein, where he initiated, structured, and acted as the sole portfolio manager of the firm’s broadly syndicated loan (“BSL”) and CLO management business. Under Scott’s leadership, the BSL and CLO business was recognized for its market leadership across several key categories.

Macklin’s new role with Obra is the latest in a series of significant milestones in the development of Obra’s fundamental credit capabilities. The Obra Institutional Credit team, formed after Obra’s acquisition of the 16 employee KDP team, brought decades of extensive public high-yield and leveraged loan market knowledge and experience to the firm. This team, along with Obra’s expertise in diversified asset management, will provide the critical research and analysis functions, and the portfolio management infrastructure, to support the growth of Obra’s CLO management platform as well as other initiatives in the leveraged finance space.

In addition, in early December, Obra advised funds committed subordinated capital to a novel structure which will provide users with an alternative path to source capacity through alternative letters of credit (“ALOC”). Obra, in partnership with insurance program design specialists, top-tier banks and insurance companies, closed on an initial diverse portfolio of ALOCs. The consortium, led by Obra Capital Management, LLC, acting as investment manager, will seek to actively grow the portfolio in a process that will continue to rely on Obra’s credit underwriting.

“We’re thrilled to have Scott joining our team to focus on managing CLO portfolios – a core part of our structured credit business,” said Blair Wallace, President and Chief Executive Officer. “His expertise and extensive background in the credit markets is a huge asset to the firm as we continue to operate in the space and deliver investment solutions to our clients.”

Peter Polanskyj, Head of Structured Credit, added: “We believe that the portfolio management style that Scott has demonstrated in his stewardship of CLO portfolios historically, combined with the multiple decades of experience in defensive fundamental credit underwriting that our analyst team has, will result in a highly complementary investment process and is something that we expect will allow us to provide an attractive offering in the CLO market. Scott, Blair, and I, have a long history working together, and I’m excited to have the opportunity to collaborate with him again.”

“Obra is a firm with a unique strategy, combining multi-dimensional underwriting and risk assessment processes to create value with a focus on mitigating downside risk,” added Macklin. “I’m excited to join the firm and contribute my experience to lead our CLO portfolio management alongside this impressive team.”

Prior to AllianceBernstein, Macklin was the Director of Research for Performing Credit and a Member of the Portfolio Committee for CLO investments at Och-Ziff Capital Management. 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.

About Obra Capital

Obra Capital, Inc. is a specialized alternative asset management firm that provides investment products and solutions across insurance special situations, structured credit, asset-based finance, and longevity. The firm aims to generate long-term value and attractive returns for investors through a variety of funds and separate accounts. With capabilities in investing, originating, structuring, and servicing, Obra provides differentiated investment opportunities for investors globally. As of December 31, 2023, Obra Capital Management, LLC’s estimated unaudited amount of assets under management was approximately $4.4 billion. For more information about Obra, please visit www.obra.com.

Media Contact:
Dan Gagnier
Gagnier Communications
Obra@gagnierfc.com
646-569-5897