Saturday, 10 October 2015
Last updated 19 hours ago
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.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…