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May 18, 2018

Z Investment Management in the news: HFM article on launch of new founder share class

Joanne Bell

Jonathan Zenios was recently interviewed by Sam MacDonald of HFM about the business and the laugh of the new founders share class for the Z Special Opportunities Fund.

Full article and link below:

Former Barclays Capital head of structured capital markets Jonathan Zenios’ firm Z Investment Management (ZIM) has launched a founder share class of its financials credit strategy.

The new share class in Z Special Opportunities (ZSO) fund will be limited to $60m through a subscription period running until May next year.

ZSO is a financial sector-focused credit hedge fund that seeks to generate returns from relative value, soft event and trading strategies. It launched in July 2015 with internal assets and a small number of external investors.

The founder class carries an annual management charge of 1.3%, a 15% performance fee, a $5m minimum investment and a nine months’ redemption notice period.

“We have been focused on getting the team in place and building out the investment strategy and in the last few months we have become ready to raise assets,” said Zenios.

ZSO aims to tap into an investment universe of some $2trn of subordinated paper, including debt and preferred stock, with the strategy focused primarily on building a leveraged portfolio of bank capital instruments.

Zenios established the firm in March 2012, having previously been global head of structured capital markets and a member of the global partnership committee at Barclays Capital.

CIO Carmina Cortés joined as a partner and portfolio manager in February 2016. She formerly spent more than five years at Barclays in the structured capital markets team, and more recently held the role of Iberia Treasurer.

CEO Graham Wade joined as CEO in April 2015, having succeeded Zenios as Barclays’ global head of the structured capital markets until its closure in 2013.

In March, ZIM appointed ex-Merrill Lynch capital markets managing director Richard Klein as MD responsible for capital raising and investor relations.

Sam Macdonald