Boaz Weinstein Launching Bond-Focused Saba Capital
|June 1st, 2009||
|Former Deutsche Bank trader Boaz Weinstein is launching a new hedge fund firm called Saba Capital Management LP. According to an article from Bloomberg, the fund is expected to start trading in August with more that $160 million under management.
The New York-based hedge fund manager has hired 15 investment professionals from Mr. Weinstein’s unit at Deutsche Bank, including managing directors George Pan, Paul Andiorio, and Jeremy Benkiewicz.
While at Deutsche Bank, Mr. Weinstein co-headed global credit trading and oversaw approximately $10 billion in capital. 2008 was reportedly Mr. Weinstein’s worst year at the bank, as his unit lost about 18% of its assets. Supposedly, 2008 was his only losing year during his 11 year tenure at the bank.
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