CAZ Strategic Opportunities Fund Converts to Interval Fund, Surpasses $500M in Assets

CAZ Investments, a Houston-based alternative investments firm, has converted its CAZ Strategic Opportunities Fund from a tender offer to an interval fund structure, available to both accredited and non-accredited investors. The move comes on the heels of the firm announcing that the fund has surpassed $500 million in assets.

By converting to an interval fund, the firm said investors benefit from a lower minimum investment at $2,500, daily subscriptions with no subscription document required, quarterly liquidity, no performance fees (i.e., management fee only), and 1099 tax reporting.

“We are very pleased with the response from the wealth management industry. Our shift to an interval fund should now allow them to include the fund in portfolio models and retirement plans,” said Christopher Zook, founder and chief investment officer of CAZ Investments.

The CAZ Strategic Opportunities Fund is now available on major custodial platforms such as Schwab, Fidelity, CAIS, and Pershing. According to the private equity firm, the fund has generated a 14.75% annualized return (net of fees) since its March 2024 inception, and a 15.89% return over 12 months, as of Oct. 31, 2025.

“Our rapid growth, surpassing the half a billion-dollar threshold, proves that the industry is hungry for simplified access to a portfolio of private market investments while still maintaining their right to scheduled liquidity,” added Zook.

In May 2024, AltsWire reported that administrator Ultimus Fund Solutions collaborated with CAZ Investments to support the launch of the fund. CAZ Strategic Opportunities Fund surpassed $250 million in assets in June 2025.

The non-diversified fund aims to provide long-term, less fluctuating returns by investing a significant portion of its assets in growth oriented private equity investments and private credit investments across various market segments, geographies, and industries. The balance of the fund includes a diverse set of liquid assets and credit solutions to target greater liquidity for the fund while also providing growth potential and additional prospective portfolio income.

Fee Information

The fund’s adjusted expense ratio is 1%. The adviser has contractually agreed to waive fees or reimburse expenses to limit total annual fund operating expenses (excluding management fees, Rule 12b-1 distribution and service fees, acquired fund fees and expenses, interest expenses, and certain extraordinary expenses) to no more than 1% of the fund’s average monthly net assets, i.e., the expense cap. The gross expense ratio for Class I is 3.02%.

• The adviser may recoup waived fees, reimbursed expenses or directly paid expenses if the waived fees, reimbursed expenses, or directly paid expenses have fallen to a level below the expense cap; and
• The reimbursement amount does not raise the level of waived fees, reimbursed expenses, or directly paid expenses in the month the reimbursement is being made to a level that exceeds the expense cap applicable at that time.

These contractual arrangements will remain in effect until January 9, 2027, unless the fund’s board of trustees approves their earlier termination.

Founded in 2001, CAZ Investments is a Houston-based asset management firm with a focus on sourcing complex, thematic opportunities for its own proprietary investment and for its global network of investors. With $10.3 billion in assets under management, CAZ has a 24-year track record of curating attractive opportunities spanning short sub-prime, disruptive technology, midstream energy, medical royalties, private credit, and GP minority investments.

The CAZ global network consists of over 8,300 investors in all 50 states and 41 countries. The group includes more than 500+ wealth management firms and investment advisers, in addition to family offices and institutional investors.

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