Ex-Deutsche Bank Trader Weinstein Launches 'Black Swan' Hedge Fund

Jan 28 2011 | 12:07pm ET

Saba Capital Management, the hedge fund founded by former Deutsche Bank proprietary trader Boaz Weinstein, has launched its second fund.

Like its predecessor, the Saba Capital Tail Risk Fund will bank on so-called "black swans," or extreme but difficult to predict events. The new fund, which opened to outside investors in November, debuted with $160 million.

The Tail Risk fund will invest in options and low-cost credit-default swaps, Financial News reports. Saba's earlier fund, which manages more than $2 billion, invests in credit vehicles and was up 10.84% last year.

Saba has recently begun marketing the new fund in earnest, with Weinstein himself hitting the road to pitch it to potential investors.


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Often seen as a passion project, or part of a philanthropic venture, rare and fine stringed instruments offer an exciting option to diversify one’s investment portfolio while providing an opportunity for an exceptional long-term investment.