Robus Capital Management

Robus invests across the capital structure of mid-market European companies, with an emphasis on senior secured and first-lien debt instruments. Core holdings include syndicated loans, high-yield bonds, Schuldschein notes, and convertible bonds. The firm targets issuers with EBITDA between EUR 5 million and EUR 100 million and builds portfolios through both primary and secondary market transactions.

Robus operates across the spectrum from performing credit to special situations and restructurings. Its closed-end funds focus explicitly on restructuring and complex situations, while its open-end bond funds seek continuous interest income from performing issuers. The firm emphasizes senior secured instruments regardless of the strategy, which gives it a structural advantage in downside scenarios.

Robus generates ideas through long-standing relationships with banks, brokers, law firms, and corporate management teams. The firm supplements market flow with field research, including site visits to portfolio companies and attendance at industry trade fairs. It is active on primary syndications and is a regular buyer on secondary markets, where it can acquire positions at discounts to nominal value.

Robus manages both public and private Luxembourg-domiciled funds that invest directly in debt instruments rather than committing capital to third-party funds. On direct deals, Robus is willing to co-invest alongside other lenders or to act as sole creditor when holding up to 100% of an issuance in its closed-end vehicles.

All investment decisions require unanimous approval from Robus's investment committee. The firm explicitly states that it prefers consensus-driven decisions for complex credit contracts because more scrutiny helps identify potential pitfalls in loan documentation and structural risks.