A California public pension fund may add a new credit hedge fund to its stable. The San Bernardino County Employees' Retirement Association is considering the award of a separate account mandate to the Zais Group.
Zais, which manages $8 billion in distressed and illiquid debt hedge funds, recently moved a big chunk of its assets into a Luxembourg-domiciled separate account structure, HFMWeek reports. The accounts had previously been held in the Cayman Islands.
SBCERA may invest $30 million with the New Jersey-based fund, just a couple of months after investing $80 million in two other credit hedge funds.