Key Takeaways
- • Senior talent acquisition: Saba Capital is rehiring co-founder Jeremy Benkiewicz from Millennium Management and promoting Kieran Goodwin to partner, both moves designed to bolster the firm's expansion into quantitative credit trading.
- • Strategic expansion into systematic credit: Saba plans to launch Saba LT, a predominantly systematic trading strategy later in 2025, targeting credit dislocations and positioning the firm for the electronification of corporate bond trading.
- • Quant infrastructure buildout: The firm previously recruited quant traders Robert Rappleye and David Buckman from Jane Street as partners, establishing a foundation for the quantitative credit trading push.
- • Benkiewicz's deep expertise and timeline: Benkiewicz, who spent nearly two decades working with Weinstein at Deutsche Bank and Saba before a five-year stint at Millennium, will rejoin in February 2026 and brings expertise in credit trading, cross-asset relative value, and convertible arbitrage.
- • $6 billion asset base: Saba Capital currently manages $6 billion on behalf of clients and has been actively working to disrupt the closed-end fund industry.
Summary
Boaz Weinstein's Saba Capital Management is executing a strategic talent consolidation aimed at strengthening its position in credit markets and accelerating its entry into quantitative trading. The $6 billion hedge fund is bringing back co-founder Jeremy Benkiewicz in February 2026 and promoting Kieran Goodwin to partner, signaling a coordinated push into systematic credit trading strategies.
Benkiewicz's return represents a significant reunion within Weinstein's organization. The executive spent approximately two decades working alongside Weinstein—first at Deutsche Bank and subsequently at Saba Capital—before serving as a portfolio manager at Millennium Management for five years. His background encompasses credit trading, cross-asset relative value strategies, and convertible arbitrage, positioning him as a critical addition to Saba's credit expansion efforts. Goodwin, previously a partner and investment committee member at King Street where he headed trading operations, will lead Saba's quantitative credit trading initiative.
This talent acquisition builds upon Saba's earlier recruitment of quant traders Robert Rappleye and David Buckman from Jane Street, both of whom are now partners at the firm. The hiring strategy reflects a deliberate infrastructure investment in preparation for Saba LT, a predominantly systematic trading strategy the firm plans to launch later in 2025. The new strategy is designed to identify credit dislocations and capitalize on the ongoing electronification of corporate bond trading—a structural shift creating new opportunities for algorithmic-driven approaches in fixed-income markets.
The moves underscore Saba's broader strategic pivot under Weinstein, who gained prominence for his profitable trade against the JPMorgan Chase trader known as the London Whale. Beyond quantitative expansion, Saba has been actively challenging the closed-end fund industry, positioning itself at the intersection of traditional credit expertise and modern systematic trading infrastructure.
Benkiewicz's return represents a significant reunion within Weinstein's organization. The executive spent approximately two decades working alongside Weinstein—first at Deutsche Bank and subsequently at Saba Capital—before serving as a portfolio manager at Millennium Management for five years. His background encompasses credit trading, cross-asset relative value strategies, and convertible arbitrage, positioning him as a critical addition to Saba's credit expansion efforts. Goodwin, previously a partner and investment committee member at King Street where he headed trading operations, will lead Saba's quantitative credit trading initiative.
This talent acquisition builds upon Saba's earlier recruitment of quant traders Robert Rappleye and David Buckman from Jane Street, both of whom are now partners at the firm. The hiring strategy reflects a deliberate infrastructure investment in preparation for Saba LT, a predominantly systematic trading strategy the firm plans to launch later in 2025. The new strategy is designed to identify credit dislocations and capitalize on the ongoing electronification of corporate bond trading—a structural shift creating new opportunities for algorithmic-driven approaches in fixed-income markets.
The moves underscore Saba's broader strategic pivot under Weinstein, who gained prominence for his profitable trade against the JPMorgan Chase trader known as the London Whale. Beyond quantitative expansion, Saba has been actively challenging the closed-end fund industry, positioning itself at the intersection of traditional credit expertise and modern systematic trading infrastructure.
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