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Privacy Notices

Privacy Notice for the U.S. and Non-EU Countries

ZAIS Group, LLC ("ZAIS") does not disclose nonpublic personal information about its clients or former clients to third parties other than as described below.

ZAIS collects information about you (such as your name, address, social security number, assets and income) from its discussions with you and from any information that you may deliver to us and in the course of providing advisory services to you. We also collect personal information regarding individuals employed by or otherwise affiliated with certain entities, particularly in relation to the governance structure of such entities. ZAIS may use this information to provide advisory services to you, to open an account for you, to process a transaction for your account or otherwise in furtherance of our business. In order to service your account and effect your transactions, ZAIS may provide your personal information to our affiliates and to firms that assist us in servicing your account and have a need for such information, such as a broker or fund administrator. ZAIS may disclose such information to service providers and financial institutions with which we have joint marketing arrangements to protect the confidentiality of your information and to use the information only for purposes for which ZAIS discloses the information to them. ZAIS does not otherwise provide information about you to outside firms, organizations, or individuals except to government regulators as it may be required by law, our attorneys, accountants and auditors and as permitted by law or applicable regulations. Furthermore, ZAIS restricts access to nonpublic personal information about you to its employees who need to know that information to provide products or services to you. ZAIS maintains physical, electronic and procedural safeguards that comply with applicable standards to guard your personal information. ZAIS does not sell personal information, and does not discriminate against anyone who chooses to opt out of data collection.

This Privacy Statement relates to the following entities:

  • ZAIS
  • All Funds managed by ZAIS or its affiliates

Privacy Notice for EU Countries

This notice applies to individuals who are resident in the European Union and explains how ZAIS Group (comprising ZAIS Group, LLC and its subsidiaries and affiliates, including, without limitation, ZAIS Group (UK) Limited) may collect, use or otherwise process your personal data.

Personal data” is information relating to you as a living, identifiable individual.

What information may we hold about you?

In the course of the prospective, current or former commercial or other relationship between you (including your employer or client) and ZAIS Group, we may obtain a range of personal data about you. We may receive this data directly or indirectly from you, from your employer or it may be received from a third party or a public source.

The types of personal data that we may hold include:

  • Contact details (including your full name, email, residential address, professional title and status and telephone details)
  • Your nationality
  • Details of your occupation, professional background and qualifications and business activities

The purposes and legal basis for processing your personal data

Our primary legal basis for processing your personal data is that the processing is necessary in the context of our relationship with you (or your employer). In addition, processing of your personal data may be necessary for compliance with our legal and regulatory obligations.

How we use and share your information within ZAIS Group

Your personal data may be seen or used by our staff in the course of their duties. Information collected by ZAIS Group is held on servers located in the USA and may be accessed by staff in the USA and the UK. Staff are only permitted to access your personal data in the proper conduct of their duties including, without limitation, for compliance with legal and regulatory requirements.

Who else will see or use your data and who might we share it with?

Your personal data may be seen or used by third parties lawfully working with us in the ordinary course of our business. We may need to share your data with relevant third parties for example our accountants, fund administrators, business partners, professional advisors and others for legal, regulatory, administrative and/or other business purposes.

We may share your information with UK, EU, US or other regulatory bodies. We may also need to share your personal information in order to obtain necessary confidential legal advice or to comply with insurance, legal or regulatory obligations.

We will take steps to provide adequate protection of your personal data.

The consequences if you decide not to provide your data

If you decide not to supply personal data that we have requested, and as a result we are unable to comply with our legal or regulatory obligations, we may be unable to engage or continue to engage with you and/or your employer.

How long will we keep your data

We may retain your personal data for such period as we deem necessary or appropriate in the context of and following the conclusion of our relationship with you (or your employer or client).

Your rights over your data

Subject to certain conditions and exceptions, as set out in EU data protection law, you have, among other things:

  • The right to request access to a copy of your data, as well as to be informed of various information about how your data is being used.
  • The right to have any inaccuracies in your data corrected, which may include the right to have any incomplete data completed.
  • The right to have your personal data erased in certain circumstances.
  • The right to have the processing of your data suspended, for example if you want us to establish the accuracy of the data we are processing.
  • The right to object to the processing of your information if we are relying on a “legitimate interest” for the processing.
  • The right to object to any automated decision-making about you which produces legal effects or otherwise significantly affects you.
  • Where the lawful basis for processing your data is consent, the right to withdraw your consent at any time. This will not affect the validity of any lawful processing of your data up until the time when you withdrew your consent.

If you wish to exercise any of your rights in relation to your data as processed by us, you may contact us by email at compliance@zaisgroup.com.  Some of your rights are not automatic, and we reserve the right to discuss with you why we might not comply with a request from you to exercise them.

For recipients of this notice in the UK, further guidance on your rights is available from the Information Commissioner’s Office (https://ico.org.uk/).  You have the right to complain to the UK’s supervisory office for data protection, the Information Commissioner’s Office at https://ico.org.uk/concerns/. if you believe that your data has been processed unlawfully. Recipients in other countries should seek guidance from the relevant body in their jurisdiction.

If you believe that we have not complied with any of our obligations under applicable data protection laws, please let us know. Nothing in this privacy notice affects any rights you may otherwise have under applicable law or regulation.

Cayman Islands Privacy Notice

The purpose of this document is to provide you with information on the Fund's use of personal data in accordance with the Cayman Islands Data Protection Law, 2017 (the "Data Protection Legislation"). The Data Protection Legislation gives rights to individuals wherever they are based if their personal data is processed by the Fund. These rights are additional to and separate from any rights such individuals may have under any other privacy law, including that of the European Union.

If you are an individual investor, this will affect you directly. If you are an institutional investor that provides us with personal data on individuals connected to you for any reason in relation to your investment with us, this will be relevant for those individuals. Please transmit this document to such individuals or otherwise advise them of its content as it contains important information about their rights.

Personal data will be processed by the Fund and by persons engaged by the Fund. Under the Data Protection Legislation, if your personal data is processed by the Fund or by persons engaged by the Fund, you have rights, and the Fund has obligations, with respect to your personal data. In this notice, we explain how and why the Fund, and persons engaged by the Fund will use, store, share and otherwise process your personal data. This notice also sets out your rights under the Data Protection Legislation, and how you may exercise them.

Your personal data

By virtue of making an investment in the Fund (including the initial application and ongoing interactions with the Fund and persons engaged by the Fund) or by virtue of you otherwise providing us with personal information on individuals connected with you as an investor (for example directors, trustees, employees, representatives, shareholders, investors, clients, beneficial owners or agents), you will provide us with information which constitutes personal data within the meaning of the Data Protection Legislation.

We may also obtain personal data on you from other public accessible directories and sources. These may include websites; bankruptcy registers; tax authorities; governmental agencies and departments, and regulatory authorities, to whom we have regulatory obligations; credit reference agencies; sanctions screening databases; and fraud prevention and detection agencies and organisations, including law enforcement.

This includes information relating to you and/or any individuals connected with you as an investor in the Fund such as: name, residential address, email address, contact details, corporate contact information, signature, nationality, place of birth, date of birth, tax identification, credit history, correspondence records, passport number, bank account details and source of funds.

How the Fund may use your personal data

The Fund is the data controller of your personal data and may collect, store and use your personal data for purposes including the following.

The processing is necessary for the performance of a contract, including:

  • administering or managing the Fund;
  • processing your subscription and investment in the Fund such as entering your information in the register of shareholders;
  • sending you statements relating to your investment;
  • facilitating the continuation or termination of the contractual relationship between you and the Fund; and
  • facilitating the transfer of funds, and administering and facilitating any other transaction, between you and the Fund.

The processing is necessary for compliance with applicable legal or regulatory obligations, including:

  • undertaking investor due diligence including anti-money laundering and counter-terrorist financing checks, including verifying the identity and addresses of our investors (and, where applicable, their beneficial owners);
  • sanctions screening and complying with applicable sanctions and embargo legislation;
  • complying with requests from regulatory, governmental, tax and law enforcement authorities;
  • surveillance and investigation activities;
  • carrying out audit checks, and instructing our auditors;
  • maintaining statutory registers; and
  • preventing and detecting fraud.

In pursuance of our legitimate interests, or those of a third party to whom your personal data are disclosed, including:

  • complying with a legal, tax, accounting or regulatory obligation to which we or the third party are subject;
  • assessing and processing requests you make;
  • sending updates, information and notices or otherwise corresponding with you in connection with your investment in the Fund;
  • investigating any complaints, or pursuing or defending any claims, proceedings or disputes;
  • providing you with, and informing you about investment products and services;
  • managing our risk and operations;
  • complying with audit requirements;
  • ensuring internal compliance with our policies and procedures;
  • protecting the Fund against fraud, breach of confidence or theft of proprietary materials;
  • seeking professional advice, including legal advice;
  • facilitating business asset transactions involving the Fund or related entities;
  • monitoring communications to/from us (where permitted by law); and
  • protecting the security and integrity of our IT systems.

We will only process your personal data in pursuance of our legitimate interests where we have considered that the processing is necessary and, on balance, our legitimate interests are not overridden by your legitimate interests, rights or freedoms.

The Fund continues to be a data controller even though it has engaged the Administrator (the "Service Provider") and other third parties to perform certain activities on the Fund's behalf.

Sharing your personal data

We may share your personal data with our affiliates and delegates. In certain circumstances, we may be legally obliged to share your personal data and other financial information with respect to your interest in the Fund with relevant regulatory authorities such as the Cayman Islands Monetary Authority or the Cayman Islands Tax Information Authority. They, in turn, may exchange this information with foreign authorities, including tax authorities and other applicable regulatory authorities.

The Fund’s affiliates and delegates may process your personal data on the Fund's behalf, including with our banks, accountants, auditors and lawyers, which may be data controllers in their own right. The Fund's services providers are generally processors acting on the instructions of the Fund. Additionally, a service provider may use your personal data where this is necessary for compliance with a legal obligation to which it is directly subject (for example, to comply with applicable law in the area of anti-money laundering and counter terrorist financing or where mandated by a court order or regulatory sanction). The service provider, in respect of this specific use of personal data, acts as a data controller.

In exceptional circumstances, we will share your Personal Data with regulatory, prosecuting and other governmental agencies or departments, and parties to litigation (whether pending or threatened) in any country or territory.

Sending your personal data internationally

Due to the international nature of our business, your personal data may be transferred to jurisdictions that do not offer equivalent protection of personal data as under the Data Protection Legislation. In such cases, we will process personal data or procure that it be processed in accordance with the requirements of the Data Protection Legislation, which may include having appropriate contractual undertakings in legal agreements with service providers who process personal data on our behalf.

Retention and deletion of your personal data

We will keep your personal data for as long as it is required by us. For example, we may require it for our legitimate business purposes, to perform our contractual obligations, or where law or regulation obliges us to. We will generally retain your personal data throughout the lifecycle of the investment you are involved in. Some personal data will be retained after your relationship with us ends. We expect to delete your personal data (at the latest) once there is no longer any legal or regulatory requirement or legitimate business purpose for retaining your personal data.

Automated decision-making

We will not take decisions producing legal effects concerning you, or otherwise significantly affecting you, based solely on automated processing of your personal data, unless we have considered the proposed processing in a particular case and concluded in writing that it meets the applicable requirements under the Data Protection Legislation.

Your rights

You have certain data protection rights, including the right to:

  • be informed about the purposes for which your personal data are processed;
  • access your personal data;
  • stop direct marketing;
  • restrict the processing of your personal data;
  • have incomplete or inaccurate personal data corrected;
  • ask us to stop processing your personal data;
  • be informed of a personal data breach (unless the breach is unlikely to be prejudicial to you);
  • complain to the Cayman Islands Data Protection Ombudsman; and
  • require us to delete your personal data in some limited circumstances.

Contact us

We are committed to processing your personal data lawfully and to respecting your data protection rights. Please contact us if you have any questions about this notice or the personal data we hold about you. Our contact details are:  compliance@zaisgroup.com marking your communication "Data Protection Enquiry".