Caius Capital US LP

Caius Capital US LP provides non-discretionary sub‑advisory investment services to private pooled vehicles and separately managed accounts, including the Caius Capital Master Fund and its feeder funds, as well as SMAs managed by its affiliate Caius Capital LLP. As of December 31, 2025, the firm reported approximately $1,749,453,073 in assets under management and does not manage client assets on a discretionary basis.

The firm pursues an opportunistic credit strategy focused on levered capital structures across three sub‑strategies—Distressed, Performing and Special Situations—with primary geographic emphasis on Europe, the Middle East and Africa. Caius generally manages the Master Fund and SMAs pari‑passu, applies credit‑impairment‑driven position sizing, monitors mark‑to‑market and gap risk, and accommodates SMA‑specific guidelines when negotiated.

Compared with many peers, Caius operates largely as a non‑discretionary sub‑adviser to an affiliated UK adviser (Caius Capital LLP) and receives negotiated remuneration from that affiliate rather than relying on a standard percentage‑of‑AUM fee paid directly to the U.S. entity. The firm also anticipates using a segregated portfolio co‑investment vehicle for certain opportunities, a structure that could affect allocations among the Master Fund, SMAs and co‑investments, and it has a relatively limited operating history since its 2022 formation.