Sancus Capital Management

Sancus Capital Management

Sancus Capital Management was founded in 2009 by CIO Olga Chernova. The firm is registered with the SEC as an alternative asset manager specializing in credit strategies and structured products. Its wealth origin is not publicly disclosed; the firm identifies as a management-owned manager rather than a family office. The firm operates across a broad credit spectrum, investing in corporate bonds, complex derivatives, and structured products including CLOs. Sancus has enabled over $3 billion in CLO issuance by purchasing control equity, and is deeply involved in portfolio construction and indenture negotiations. It pioneered the Applicable Margin Reset (AMR) feature, which uses an online auction to refinance CLO liabilities through the secondary market, reducing costs and maximizing market access. In June 2021, Sancus Credit Advisors priced its debut CLO — Trysail 2021-1 — at $308 million via Jefferies; the deal had AMR embedded in all its debt tranches (per Creditflux, June 2021). The firm's geographic footprint is not specified beyond its Los Angeles headquarters. Sancus has not publicly disclosed AUM, team size, or additional offices. The firm lists a Los Angeles headquarters at 10880 Wilshire Boulevard. It has won multiple awards including "Best Multi-Strategy Credit Fund Manager" by BarclayHedge and "U.S. Performance Structured Credit Specialist" by Alt Credit Intelligence. In August 2021, Chernova told Hedgeweek that Sancus remains at the cutting edge of credit investing (per Hedgeweek, August 2021). Sancus's structural differentiator is its innovation in CLO structuring: the AMR mechanism became a notable industry contribution. The firm originates deal flow through its own structuring expertise and relationships with investment banks like Jefferies. It is not a family office and does not manage a single-family balance sheet; it is an independent asset manager.