Hedge fund Saba Capital, started by former Deutsche Bank proprietary trader Boaz Weinstein, is establishing an office in London, Financial Times reports. The office, part of the New York–based firm’s first overseas operation, will be managed by ex-Deutsche Bank head of leveraged finance trading Prakash Narayanan. Saba currently runs $4.7 billion worth of assets.
Saba’s London team will mainly concentrate on research in European markets. The firm, which is awaiting approval from the U.K. Financial Services Authority, may get the office fully going by the first quarter of next year. Back-office service provider Throgmorton U.K. will extend accounting, tax and secretarial services.
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