Canaras Capital Management, LLC is a privately held,
SEC-registered, investment advisor that was founded in 2006. Canaras is dedicated to alternative investing and financial problem solving. We seek to generate higher absolute returns with low volatility by identifying inefficiencies, capitalizing on unconventional investments and creating well-structured portfolio solutions. We search out new and innovative opportunities to remain a leader in alternative investments.Canaras offers a broad range of absolute return strategies and vanguard products for both institutional and high net worth investors. Our approach has performed through difficult economic environments and during unconventional and challenging recoveries. Our reputation is built on our hard-working talent, our intensive fundamental and technical research and our risk-averse philosophy.
Canaras has a different approach to alternative investments. While many managers discover an opportunity and then search for investors, Canaras seeks opportunities that respond to complex investor needs. Canaras does not follow a single strategy or market and we do not serve a broad investor base.
Our clients operate in difficult economic, political and tax environments that complicate normal return, risk and liquidity objectives. Solutions that succeed in these environments require expertise that goes far beyond asset selection and portfolio management. Canaras develops long-term and close relationships with clients. Our senior managers often interact with clients on a regular basis to fully understand their needs and to respond to macro- and micro- environmental changes. Our investment programs are typically private and involve a closely held group of investors.
Canaras' investment programs may range from large scale collateralized corporate loan obligations to niche venture initiatives. Our client solutions have involved large and small business lending, leveraged preferred share portfolios, distressed investments, asset-backed securities, private equity, real estate and cross border currency hedges. The common theme to these programs is a solution tailored to the investor’s needs and executed with intense credit analysis and a broad understanding of the surrounding economic, political and operating risks.
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The Canaras Team is a group of dedicated employees of whom two-thirds are investment professionals. Our principals have been in the industry for over a quarter century during which time they built and managed successful investment businesses for leading financial institutions with total AUM of over $24 billion. The team is led by Anthony Clemente who was responsible for the development and growth of two successful global alternative asset management platforms.
Our analysts specialize in a number of different but related investment strategies. We encourage communication at all levels to promote the common goal of understanding the needs of our clients and the risks and rewards of each investment opportunity. Our dynamic and collaborative culture has helped us to attract and retain the highest-caliber employees.
(Click on each name for a detailed presentation)
Anthony R. Clemente
CEO
Anthony has over 37 years of experience in the credit markets, having worked early in his career in various credit and credit underwriting capacities for Fidelity Union Bank, Marine Midland Bank and Security Pacific Merchant Bank in the 1980’s. In 1989, Anthony was a founding member of Merrill Lynch Asset Management’s leveraged loan business which offered one of the first retail mutual funds investing in the Leveraged Loan asset class.
After growing the Merrill Lynch business to nearly $8.5 billion assets under management, he joined INVESCO in 1998, where he was a Global Partner and head of the Bank Loan and CDO businesses. He also grew the INVESCO business to nearly $8.5 billion assets under management encompassing 17 structures and accounts that invested in leveraged loans, asset backed securities, high yield bonds and investment grade bonds by 2005.
As one of the principal advocates for the credit industry, Anthony served on the Board of Directors of the Loan Syndications and Trading Association in the mid and late 1990’s through 2000’s. He contributed extensively to the development of industry standard agreements and the standardized market procedures that facilitated asset trading and the expansion of secondary markets. Anthony holds a BA in Economics from St. Lawrence University.
Richard D. Levinson
Richard Levinson works closely with Canaras in the development of structured solutions for clients. He is the founder and managing director of a number of Canaras partner initiatives including Sage Group Limited, Croton Enterprise Limited and Phoenix Energy.
Richard Levinson has 40 years of experience in structured finance, risk management, asset management and private banking. He specializes in the creation and execution of complex cross border structured transactions and related advisory services. He has served as a board member of several investment corporations, hedge funds and CDOs and was appointed by the US Bankruptcy Court as a member of the Creditors Committee for the resolution and liquidation of Refco Inc, a global financial institution embroiled in a major fraud.
Previously, he spent 18 years with Citibank in a variety of treasury, risk management and asset management positions. In 1988, he became Citibank’s U.S. Country Treasurer, a founding member of its Market Risk Policy Committee and Chairman of the US Asset Liability Committee. In 1994, he became global treasurer and head of structured finance for the Citibank Private Bank.
Richard Levinson holds a B.A. in Economics and an M.S. in Operations Research from Union College and an M.A. in Finance from the Wharton School of the University of Pennsylvania where completed course work and passed qualifying exams for a PhD in Finance.. He served as adjunct faculty at the Wharton School and other business schools and provided seminars for central banks and other regulatory agencies in several countries.
Simon P. Airey
Senior Partner (Canaras Management Limited)
Simon Airey, a resident of Jersey, Channel Islands, is a non-executive director of several collective investment funds, hedge funds and related management companies and CDO managers. He trained as an accountant with Coopers & Lybrand and subsequently worked at Citibank in Jersey where his responsibilities included financial control, corporate banking and asset management structured products. He left Citibank Jersey in September, 1995, and continues to be a non-executive director of a number of companies established in Jersey, the Cayman Islands and Luxembourg.
Trevor H. Brookes
Chief Operating Officer
Trevor joined Canaras Capital Management in 2013 as Chief Operating Officer, with 14 years of leadership experience in commercial loan operations. Previously, Trevor was the Director of CLO and CDO operations at Halcyon Asset Management, overseeing 14 structures totaling $6B in value. Prior to Halycon, Trevor worked at Citigroup Alternative Investments for 8 years, where he was the Head of Leveraged Loans and Bonds, CLO, CDO, TRS, and Settlement Group. Trevor's extensive operational career began during his 10 years at Manufacturers Hanover Trust Company and DG Bank.
Trevor graduated from The City University of New York, Lehman College, in 1989 with a B.A. in Economics.
Andrew J. Heller
Managing Director
Prior to joining Canaras Capital Management, LLC in 2006, Andrew Heller worked at Houlihan, Lokey, Howard & Zukin, where he was an integral part of the Financial Restructuring Group advising on restructuring, distressed M&A and valuation. He has also held various positions at Citigroup related to leverage loans, recovery management, structural finance and asset-based lending.
Andrew Heller received a B.A. in Economics from Duke University as well as an M.B.A. from Columbia Business School.
Benjamin S. Steger, CFA®
Managing Director
Benjamin Steger joined Canaras Capital Management, LLC in 2006 with a strong background in fundamental credit research. Prior to Canaras, he worked for INVESCO as a bank loan research analyst. He received his credit training during his tenure as an investment analyst at Prudential Financial.
Benjamin Steger received a B.S. in Finance from Rutgers, the State University of New Jersey, and was awarded the Chartered Financial Analyst® professional designation in 2005.
Benjamin received his Executive M.B.A. from Columbia Business School graduating with honors with distinction.
Richard J. Vratanina, CFA®
Managing Director
Richard Vratanina joined Canaras Capital Management, LLC in 2008 with over 14 years experience in investment banking and financial services. Most recently, he spent 4 years in Morgan Stanley's Leveraged Finance group specializing in the Energy sectors. Prior to that Richard Vratanina worked for 5 years in the Power and Energy credit group at TD Securities. Before graduate school Richard spent 4 years with Accenture in their Financial Services group.
Richard Vratanina received an M.B.A. from New York University's Stern School of Business, as well as a B.S. in Industrial Management/Computer Science from Purdue University. He was awarded the Chartered Financial Analyst® professional designation in 2015.
Marc H. McAfee
Managing Director
Marc McAfee joined Canaras Capital Management, LLC in 2012. Previously, he was a member of the Special Situations Group at MBIA focused on distressed credit workouts and restructurings. Additionally, he was an analyst in the Leveraged Finance Group at Banc of America Securities.
Marc McAfee graduated from Washington and Lee University and holds an MBA from the Darden School at the University of Virginia.
Nicholas E. Chretien
Analyst
Nicholas Chretien joined Canaras Capital Management, LLC in 2015 from St. Lawrence University after working as an intern with the firm in the spring and summer of 2014.
Nicholas Chretien received a B.A. in Economics from St. Lawrence University.
Tonisha D. Kerr
Analyst
Tonisha Kerr joined Canaras Capital Management, LLC in 2015 from St. Lawrence University after working as an intern with the firm in the spring and summer of 2014.
Tonisha Kerr received a B.A. in Economics from St. Lawrence University.
Allison E. Phillips, CFA®
Analyst
Allison Phillips joined Canaras Capital Management, LLC in 2019 after spending three years in leveraged finance investment banking with Morgan Stanley and Goldman Sachs. Prior to graduate school, Allison spent 6 years as an economic consultant, focusing on valuation and transfer pricing.
Allison Phillips received an M.B.A. from the University of Chicago’s Booth School of Business, as well as a B.S. in International Economics from Georgetown University. She was awarded the Chartered Financial Analyst® professional designation in 2013.
Travis J. Hamre
Junior Analyst
Travis Hamre joined Canaras Capital Management, LLC in 2018 from St. Lawrence University, after working as an intern with the firm in the summer of 2017.
Travis Hamre received a B.S. in Economics-Mathematics from St. Lawrence University.
Alden C. Stone
Junior Analyst
Alden Stone joined Canaras Capital Management, LLC in 2018 from Bucknell University, after working as an intern with the firm in the summer of 2017.
Alden Stone received a B.S.B.A. in Accounting and Financial Management from Bucknell University.
Claudio Chappell
Senior Operations Specialist
Claudio Chappell is a Senior Operations Specialist at Canaras Capital Management, LLC. Claudio joined Canaras Capital Management, LLC in July 2017, with 9 years of leadership experience in loan operations. Previously, Claudio was a Vice President of Middle Office Operations at GSO Capital/Blackstone, monitoring 17 funds with a total AUM of $5 billion. Prior to his work in operations, he worked as a Loans Sales and Trading Analyst as well as a Syndication Officer at The Bank of Nova Scotia for over 10 years.
Claudio Chappell received his B.S. in Business Administration from Fordham University and his M.B.A. from New York Institute of Technology.
Michael T. Pagliuca
Operations Specialist
Michael T. Pagliuca is an Operations Specialist at Canaras Capital Management, LLC. Michael joined Canaras Capital Management, LLC in 2017, with over 10 years of experience in Loan Operations for Blackrock Financial Management and Societe Generale, specializing in the settlement of par and distressed trades in the primary and secondary syndication loan markets. Michael received his B.A. in Economics from Rutgers University.
David E. McClean, Ph.D.
Chief Compliance Officer
David McClean joined Canaras Capital Management, LLC as Chief Compliance Officer in 2007. Since 1992 he has been Principal of the DMA Consulting Group, a regulatory and business consultancy to the financial services industry. David serves or has served as Chief Compliance Officer for several client firms, including Aladdin Capital Management and Sailfish Capital Partners. Prior to DMA, he served as an officer in various legal compliance positions at Van Eck Global, BV Capital Management and National Securities & Research Corporation.
David McClean studied at Hunter College (B.A., 1986), NYU (M.A., 1996), and The New School for Social Research, M.A. (2003) and Ph.D. (2009). He holds FINRA's Series 7, 24, 27, 63, 79 and 82 licenses. Additionally, he is a Lecturer at Rutgers University (Newark) and teaches several courses in business ethics, including ethics in financial services.
Gregory E. Deveault
Accountant
Gregory Deveault joined Canaras Capital Management, LLC in 2014. He has previously worked in the financial services industry for Fidelity Management Research, Pine Capital, and independently for high net worth individuals.
Gregory Deveault received a B.S. in Business Administration and Finance with a minor in Global Economics from The University of Maine.
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US Office (Global Headquarters)
130 West 42nd Street
Suite 1500
New York, New York 10036
Tel: +1.212.372.7444
Fax: +1.212.372.7449
European Office
Floor 5
37 Espanade
St. Helier
Jersey JE1 2TR
Channel Islands
Tel: +44.1534.519.950
Contact Us via E-mail