Specialized credit investing across overlooked Latin American opportunities.
Olarus Capital Management is a specialist investment manager focused on high yield, distressed credit, and special situations across Latin America. Founded in 2023, the firm was built around a focused mandate, disciplined credit underwriting, and deep regional experience.
We invest in situations where outcomes are driven by capital structure, legal process, asset quality, and local execution. Our boutique structure allows us to be selective and flexible, while maintaining the governance and risk management standards expected by institutional investors.
Latin American credit is structurally under-covered. Many situations are too small, too local or too complex for global platforms, yet too institutional for traditional local investors. That gap creates opportunity.
Our approach combines deep regional knowledge with institutional investment discipline. We analyze credits from the ground up, focusing on legal structures, recovery paths, incentives, collateral and downside protection.
We believe attractive returns come from understanding complexity better than the market, not from taking broad market risk.
We invest through two complementary strategies: performing high yield credit and event-driven special situations. Both are built on the same foundation: bottom-up underwriting, capital structure analysis, and a disciplined focus on downside protection.
High Yield
Fundamental selection across Latin America’s corporate credit universe: primarily senior secured and senior unsecured bonds, positioned higher in the capital structure for durable income with disciplined downside.
Special Situations & Distressed
Event-driven opportunities across restructurings, dislocations, and complex or mispriced credit, where deep legal and recovery analysis, patience, and local intelligence create the edge. We look for asymmetric returns: meaningful upside with clearly defined downside.
Research-driven and aligned.
15+ years of experience across emerging-market fixed income, corporate credit, and special situations.
- Previously at Bank of America Merrill Lynch on the Fixed Income & Currencies desk, and later Portfolio Manager for Fixed Income & Currencies at Tresalia Capital.
- Co-founded the Centurion Discovery Fund at Intercap, focused on distressed and special situations across emerging markets.
- Founded Olarus Capital Management in 2023 to pursue specialized credit opportunities across Latin American high yield, distressed credit, and special situations.
20+ years in hedge fund operations, finance and governance.
- Founder & COO of Silver Fern Financial; former CFO/CCO of a $200MM L/S fund and Partner & CFO/CCO at MAST Capital ($1.5BN multi-strategy credit).
- Began his career in hedge fund administration at Goldman Sachs and Ernst & Young (Auckland & Cayman).
Supports the Firm’s investment research across high yield, distressed credit and special situations in Latin America, with a focus on company analysis, capital structure review and recovery scenarios.
- Previously at HSBC México’s Special Credit Unit, where he worked on restructurings, NPL recovery and credit risk databases.
- Coverage experience across telecom, airlines, petrochemicals and mining.
- CFA Research Challenge 2024 national finalist.
Supports the Firm’s investment research across high yield, distressed credit and special situations in Latin America, with a focus on fixed-income valuation, issuer analysis and portfolio monitoring.
- Previously at the Mexican Stock Exchange Group’s Central Counterparty Clearing, focused on clearing, settlement and market risk.
- Coverage experience across energy, financial services, infrastructure and oil drillers.
- CFA Research Challenge 2024 national finalist.
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For institutional and professional-investor enquiries, please write to us directly.
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