Key Takeaways
- • Saba Capital, the $6 billion New York hedge fund led by Boaz Weinstein, is hiring two senior partners as it expands into quantitative credit trading, according to people familiar with the matter cited by Reuters.
- • Jeremy Benkiewicz, a Saba co-founder who spent five years as a portfolio manager at Millennium Management, will rejoin the firm in February 2026.
- • Kieran Goodwin, formerly a partner, investment committee member and head of trading at King Street, is being made a partner to lead the quant credit push.
- • Saba plans to launch Saba LT later this year, a predominantly systematic strategy targeting credit dislocations and the electronification of corporate bond trading.
- • The hires follow earlier recruitment of quant traders Robert Rappleye and David Buckman from Jane Street, both now Saba partners.
Summary
Saba Capital Management, the New York-based hedge fund managing about $6 billion on behalf of clients, is strengthening its senior ranks as it moves into quantitative credit trading, according to Reuters, citing people familiar with the matter who were not authorized to discuss personnel decisions publicly. Founder Boaz Weinstein, best known for profiting from the 2012 trading patterns of the JPMorgan trader known as the London Whale, which saddled the bank with some $6 billion in losses, is bringing in two senior partners.
Co-founder Jeremy Benkiewicz will return to the firm in February. He worked with Weinstein for nearly two decades at Deutsche Bank and at Saba, and is described as an expert in credit trading, cross-asset relative value and convertible arbitrage. Benkiewicz most recently spent five years as a portfolio manager at Millennium Management. Neither he nor Millennium responded to requests for comment.
Saba is also elevating Kieran Goodwin, who has been advising the firm, to partner to lead the expansion. Goodwin previously was a partner at King Street, where he sat on the investment committee and headed trading. He could not be reached for comment.
The firm plans to launch Saba LT later this year, a predominantly systematic strategy aimed at identifying credit dislocations and capturing opportunities in the accelerating electronification of corporate bond trading. To lay the groundwork, Saba earlier hired quant traders Robert Rappleye and David Buckman from Jane Street, who are both now partners.
The moves come amid intense competition among hedge funds for talent, with top portfolio managers and traders commanding large pay packages as firms seek to attract pensions, endowments and other investors by promising to capture market upside while limiting losses in downturns. Weinstein has also recently pushed to reshape the UK investment trust industry for better returns and has reached agreements with a handful of closed-end funds.
Co-founder Jeremy Benkiewicz will return to the firm in February. He worked with Weinstein for nearly two decades at Deutsche Bank and at Saba, and is described as an expert in credit trading, cross-asset relative value and convertible arbitrage. Benkiewicz most recently spent five years as a portfolio manager at Millennium Management. Neither he nor Millennium responded to requests for comment.
Saba is also elevating Kieran Goodwin, who has been advising the firm, to partner to lead the expansion. Goodwin previously was a partner at King Street, where he sat on the investment committee and headed trading. He could not be reached for comment.
The firm plans to launch Saba LT later this year, a predominantly systematic strategy aimed at identifying credit dislocations and capturing opportunities in the accelerating electronification of corporate bond trading. To lay the groundwork, Saba earlier hired quant traders Robert Rappleye and David Buckman from Jane Street, who are both now partners.
The moves come amid intense competition among hedge funds for talent, with top portfolio managers and traders commanding large pay packages as firms seek to attract pensions, endowments and other investors by promising to capture market upside while limiting losses in downturns. Weinstein has also recently pushed to reshape the UK investment trust industry for better returns and has reached agreements with a handful of closed-end funds.
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