Globefin US Advisors’ Cannonball Stability Fund, an asset-backed fund of hedge funds, this month added a new asset-backed loan startegy to its portfolio, bringing its current lineup to 23 underlying managers.

And the niche fund is also in the later stages of due diligence on two more managers, according to David Maslaton, a research analyst at Globefin.

The $17 million offering, which launched in January, is up some 5% through May. Its portfolio is made up of mostly U.S.-based managers with some European, Latin American and Asian exposure as well. The fund’s capacity is between $150 million and $200 million.

In addition to its onshore offering, Globefin currently manages three offshore multi-strategy funds of funds with exposure to the ABL space. The firm manages some $500 million in total assets.