Key Takeaways
- • Obra Capital closed its fifth CLO, Obra CLO 5, with a total size of $403.6 million, lifting the firm's cumulative CLO issuance above $2 billion across five transactions in under two years.
- • Obra CLO 5 will be managed by Obra CLO Management LLC, part of the firm's leveraged finance business led by Scott Macklin, Head of U.S. Leveraged Finance, and Peter Polanskyj, Chief Investment Officer.
- • Morgan Stanley served as structuring lead and placement agent; Milbank LLP provided legal counsel to Obra.
- • Obra reported approximately $8.6 billion in estimated unaudited assets under management across its registered investment advisers as of September 30, 2026.
Summary
Obra Capital has closed its fifth collateralized loan obligation offering, Obra CLO 5, with a total size of $403.6 million, according to the firm's announcement reported by Pulse 2.0. The transaction brings the alternative asset manager's cumulative CLO issuance to more than $2 billion across five deals completed in less than two years since the platform was launched.
The CLO is managed by Obra CLO Management LLC and sits within Obra's leveraged finance business, which is led by Scott Macklin, Head of U.S. Leveraged Finance, and Peter Polanskyj, Chief Investment Officer. Morgan Stanley acted as structuring lead and placement agent, while Milbank LLP provided legal representation to Obra in connection with the transaction. The firm said its approach emphasizes credit selection, portfolio construction, and long-term risk management across varying market conditions.
Founded in 2009, Obra Capital develops investment strategies across insurance and credit verticals, with capabilities spanning investing, sourcing, structuring, and servicing through funds and separately managed accounts. Beyond its CLO management business, the firm owns and operates a commercial real estate lending platform and an indirect automobile finance company. As of September 30, 2026, Obra reported approximately $8.6 billion in estimated unaudited assets under management across its registered investment advisers.
In a statement, Polanskyj said that pricing the fifth CLO less than two years after launching the platform reflects "the discipline of our investment process and the durability of the business our team has built." He added that the firm remains focused on "delivering attractive risk-adjusted returns across market environments."
The closing extends Obra's presence in leveraged credit markets and adds to its broader platform spanning insurance and credit-related strategies, as the firm seeks to offer differentiated credit opportunities to institutional investors globally.
The CLO is managed by Obra CLO Management LLC and sits within Obra's leveraged finance business, which is led by Scott Macklin, Head of U.S. Leveraged Finance, and Peter Polanskyj, Chief Investment Officer. Morgan Stanley acted as structuring lead and placement agent, while Milbank LLP provided legal representation to Obra in connection with the transaction. The firm said its approach emphasizes credit selection, portfolio construction, and long-term risk management across varying market conditions.
Founded in 2009, Obra Capital develops investment strategies across insurance and credit verticals, with capabilities spanning investing, sourcing, structuring, and servicing through funds and separately managed accounts. Beyond its CLO management business, the firm owns and operates a commercial real estate lending platform and an indirect automobile finance company. As of September 30, 2026, Obra reported approximately $8.6 billion in estimated unaudited assets under management across its registered investment advisers.
In a statement, Polanskyj said that pricing the fifth CLO less than two years after launching the platform reflects "the discipline of our investment process and the durability of the business our team has built." He added that the firm remains focused on "delivering attractive risk-adjusted returns across market environments."
The closing extends Obra's presence in leveraged credit markets and adds to its broader platform spanning insurance and credit-related strategies, as the firm seeks to offer differentiated credit opportunities to institutional investors globally.
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