Return Illustration

SOFR + 350–550bps net. Structurally sticky spreads across rate cycles.

Returns are built additively — SOFR plus a credit spread determined by transaction structure risk, not market sentiment. Spreads do not compress when SOFR falls.

Conservative
5.8%
Net to investor · 85% deployment
Base Case
7.1%
Net to investor · 90% deployment
Optimistic
8.6%
Net to investor · 95% deployment
SOFR Level Net to Investor (approx.) Expressed As
2.0%5.5% – 7.5%SOFR + 350–550bps
3.0%6.5% – 8.5%SOFR + 350–550bps
3.6% (current)7.1% – 9.1%SOFR + 350–550bps
4.5%8.0% – 10.0%SOFR + 350–550bps
5.0%8.5% – 10.5%SOFR + 350–550bps
Sample Transactions

Representative deals from the portfolio — across commodities, structures, and corridors.

Every transaction is self-liquidating, backed by physical goods, and structured around identified buyers and sellers. These are illustrative of the team's origination approach.

Used Cooking Oil
Biofuel / Agricultural
USD 2,596,500
Facility Amount · 3,606 mt
60 Days
Tenor
11.17%
Rate p.a.
LC at Sight
Sale Terms
Supplier
Southeast Asian Bioenergy Producer
Vietnam · FOB origin port · Advance payment vs holding certificate
Buyer
US Renewable Diesel Refiner
United States · FOB origin · LC at sight · SCB Singapore
Australian Thermal Coal
Energy — Coal
USD 6,500,000
Facility Amount · 85,000 mt
60 Days
Tenor
12.88%
Rate p.a.
LC at Sight
Sale Terms
Supplier
Australian Coal Producer
Australia · FOB origin port · Advance payment prior to ETA
Buyer
Southeast Asian Industrial End-User
Thailand · CIF destination port · LC at sight · Arab Bank Switzerland
Tin Ingots
Industrial Metals
USD 1,660,489
Facility Amount · 50.18 mt
20 Days
Tenor
11.66%
Rate p.a.
OA 3 Days
Sale Terms
Supplier
Indonesian Metals Producer
Indonesia · FOB origin port · Advance payment vs shipping docs
Buyer
Singapore-Based Commodity Trader
Singapore · CIF Shanghai, China · OA 3 days · CIMB Bank Singapore
How to Invest

A complete suite from no-minimum participation to discretionary managed account.

Each structure is a natural starting point or progression — begin with a transaction, build conviction, formalise the relationship.

Structure
Key Feature
Minimum
Best For
Funded Participation
Transactional
Deal-level visibility. Risk-sharing basis. Altrus retains min 20% of every transaction alongside you.
No minimum
% of deal only
Entry level — build familiarity through direct experience before committing to the fund.
Master Participation Agreement
Framework agreement — efficient revolving deployment. Altrus issues a participation notice per transaction; investor accepts or declines; capital recycles automatically.
No minimum
% of deal only
Regular participants seeking systematic, frictionless deployment across multiple deals.
Undisclosed Loan Sale
Equitable assignment transfers beneficial ownership directly to the investor. Altrus remains undisclosed collection agent — borrower continues dealing with Altrus as normal.
No formal minimum
Investors with direct loan ownership requirements or their own investment SPV infrastructure.
Open-Ended Floating Rate Note
SOFR + net spread. Portfolio diversification across commodities, geographies, and structures. Quarterly reporting on composition, yields, and concentration.
USD 500,000
Standard accredited investors seeking diversified, compounding exposure without reinvestment friction.
Close-Ended Fixed Rate Note
Stated coupon. 12-month defined term. Suited to investors who want yield certainty regardless of SOFR direction.
USD 1,000,000
Investors preferring a defined term and fixed income certainty over floating rate exposure.
IMA — Managed Account
Bespoke mandate. Full deal-level transparency at all times. Customisable parameters within the fund's overall framework. Potential tax efficiency benefits for specific structures.
USD 10–20M
Large family offices and institutional investors requiring granular portfolio visibility and bespoke mandates.
Fund Terms

Designed for institutional and qualified investors.

Altrus Capital Partners is structured as a Variable Capital Company (VCC) in Singapore, with a parallel Luxembourg vehicle for European investors.

Fund Structure
VCC (Singapore)
Parallel Luxembourg vehicle available
Target Investors
Qualified / Accredited
Institutional and family office focus
Target Tenor
70 Days Avg
Sub-120-day transactions, 94% of portfolio
Asset Classes
Energy · Metals · Agri
Exchange-traded commodities preferred
Regulatory Advisor
MAS CMS Licensed
Fund Manager regulated by MAS
Tax Exemption
13O Eligible
Singapore VCC structure