Canaras Capital Management, LLC

Canaras Capital Management, LLC and Saranac CLO Management, LLC offer investment advice and management services primarily to institutional investors, focusing on private investment funds and securitized asset funds like CDOs/CLOs. The firm specializes in debt and fixed income instruments, providing discretionary investment management for client portfolios typically in the millions to hundreds of millions of dollars. While there is no pre-established minimum asset requirement, funds managed by Canaras usually impose minimums. Fees are charged as a percentage of assets under management or positive returns over a specified period, ranging from 1% to 3% for asset-based fees and 15% to 35% for performance fees. The firm may charge fees in advance, with pro-rata refunds upon agreement termination. Canaras does not receive transaction-based fees and acts as a fiduciary, aiming to mitigate conflicts of interest. Investment strategies involve quantitative and fundamental analysis, focusing on credit analysis and risk management. The firm's investment personnel hold relevant degrees and certifications, such as the CFA designation. Canaras exercises investment discretion for most client accounts, making decisions without client consultation, and may vote proxies on equity securities held in client portfolios. The firm communicates with clients electronically and provides regular portfolio reports. Key personnel include Anthony R. Clemente (CEO, CIO), Richard Vratanina (Managing Director), and Andrew Heller (Managing Director), each bringing extensive experience in finance and investment management.