Comment: Chris Sullivan
The hedge fund industry has always had a bit of a schizophrenic relationship with the media, particularly here in the US
08/06/2011
ZAIS Group makes personnel changes
ZAIS Group, the New Jersey-based $8bn distressed and illiquid credit manager, has experienced a number of personnel moves as it re-evaluates its business.
According to a recent investor letter, Chris Kelly, a portfolio manager, is leaving the firm to pursue opportunities in the deeply distressed real estate space.
Meanwhile, Howard Steinberg has joined ZAIS as the firm’s new general counsel. He previously held similar positions at Prudential Securities and the Reliance Group.
ZAIS is currently realigning its investment teams to capitalise on opportunities in the securitisation and residential mortgage-backed securities spaces, the investor letter stated.
After his departure, Kelly will remain an active member of ZAIS’s Servertis Investment Committee as well as a sub-advisor and consultant to the firm.
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