Fund launches & closures

Boaz Weinstein gears up for fund launch

by

Boaz Weinstein may have lost more than $1 billion for Deutsche Bank last year, but he didn’t lose investors’ confidence in his management abilities. In the last five weeks Weinstein has raised $160 million for hedge fund Saba Capital Management, which he is planning to launch in August.

The new firm, based in New York, takes its name from the Hebrew word for grandfather. It is the same moniker used by the proprietary trading strategy Weinstein ran for Deutsche Bank for the last eight years. During that period, he is said to have made money for the firm every