A hedge fund based in the US has revealed it is planning to open new
London offices.
Saba Capital was set up two years ago by former proprietary trader at Deutsche Bank Boaz Weinstein.
The UK's capital has been selected as a new base into which the organisation can expand and the
London offices will be led by ex-head of leveraged finance trading at the leading global investment bank Prakash Narayanan.
Assets of $4.7 billion (£2.9 billion) are managed by Saba Capital, with Financial News reporting its chief financial officer Carl Casler as saying that opening
London offices will give it a strong base from which to conduct European research.
He added that trading in the capital will also help the hedge fund extend its global remit.
The offices are expected to be in operation by the first quarter of next year.
Although it has not yet been revealed where the new base will be, the City and Canary Wharf are the most popular financial centres in London.
Deutsche Bank itself has its head office at 1 Great Winchester Street, EC2, which is close to Liverpool Street and Moorgate railway and tube stations.
Posted by John Evans
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