Saba Capital Taps Throgmorton To Service New UK Office

Nov 14 2011 | 7:28am ET

Saba Capital Management, the $4.7 billion hedge fund set-up by pioneering credit derivatives trader Boaz Weinstein, has hired Throgmorton to provide back-office services for its new UK operations. Saba Capital’s UK office is currently awaiting FSA registration and should begin business in Q1 2012.
 
Throgmorton, one of the UK’s largest independent back office service providers to the hedge fund, private equity and corporate finance industries, will supply Saba Capital’s UK companies with accounting, VAT, company secretarial, human resources and health and safety services.
 
The Saba Capital UK branch has been launched as a research centre and sub advisor to the U.S. limited partnership, and will be headed by former Deutsche Bank head of leveraged finance trading, Prakash Narayanan.
 
Weinstein worked at Deutsche Bank from 1998 to 2009, at which point he left to launch Saba Capital, taking 11 members of his trading team with him.
 


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