Sancus Capital Management LP is a multi-strategy credit manager founded in 2009 by Olga Chernova. Sancus invests in liquid credit‐based assets primarily in the North American and European markets through three core strategies: Long/Short, Relative Value and Capital Structure. Sancus combines fundamental, macro and technical analysis to generate positive returns with low correlation to overall markets. The Firm is an SEC-registered Investment Adviser and qualifies as an MWBE company with offices in New York and Los Angeles. In 2016, Sancus pioneered the development of the Applicable Margin Reset (“AMR”) mechanism, a refinancing mechanism that avoids the necessity of a full traditional CLO refinancing by allowing individual tranches to be refinanced one at a time instead. Sancus received SEC relief in a no-action letter confirming that the AMR mechanism would not constitute an “offer and sale” of new securities: https://www.sec.gov/divisions/corpfin/cf-noaction/2016/sancus090116-reg-rr.htm. Independent legal opinion on the issue could be found here: http://bit.ly/2kHj7CJ.