Obra Capital scoops up asset management and investment research firm KDP’s assets

• KDP Investment Advisors, Inc. was established in 1996
• In June 1999, KDP Asset Management Inc. was formed as the asset management arm of KDP, specializing in the management of high-yield securities
• Obra Capital Management, LLC’s estimated unaudited amount of assets under management was approximately $4.1 billion, as of June 30, 2023

Obra Capital, Inc has acquired the assets of Montpelier, Vermont-based KDP, LLC, an asset management and investment research firm. No financial terms were disclosed.

“This is an exciting day for Obra as we complete the acquisition,” said Blair H. Wallace, president and CEO of Obra in a statement. “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.”

KDP Investment Advisors, Inc. was established in 1996. In June 1999, KDP Asset Management Inc. was established as the asset management arm of KDP, specializing in the management of high yield securities.

KDP filed for bankruptcy court protection under Subchapter 5 of Chapter 11 of the US Bankruptcy Code, on May 21, 2023.

Obra also acquired KDP’s intellectual property and certain client and sub-advisory contracts.

Obra Capital Management, LLC’s estimated unaudited amount of assets under management was approximately $4.1 billion, as of June 30, 2023.