Overview
Canaras Capital Management LLC and Saranac CLO Management, LLC (together, “Canaras”) provides
investment advice and/or investment management services to institutional investors, generally. More
specifically, it provides those services to private investment funds and securitized asset funds such as
CDOs/CLOs. None of its clients (as of the date of this brochure) is an individual (natural person or “retail
investor”). With respect to the services Canaras provides, they are mostly related to debt and fixed
income instruments of various types – leveraged loans and bonds, for example.
Canaras provides discretionary investment management and, under certain condition, non-discretionary
investment management services. The portfolios of its clients are usually in the millions, tens of millions
or hundreds of millions of dollars. However, there is no set, pre-established minimum amount of assets
required for the provision of services (although the various funds managed may, and usually do,
imposed minimums). Investment personnel at Canaras have degrees in finance, portfolio management
or related disciplines, appropriate to their duties. Our investment professionals have degrees in business
or economics and/or have achieved Chartered Financial Analyst (CFA) standing. Canaras expects to
require similar qualifications of anyone who joins the portfolio management or credit analysis team.
Currently, Canaras manages, on a discretionary basis, approximately $1.3 billion of client assets
(inclusive of assets managed pursuant to CLO warehousing/investment management agreements).