Saba Capital Reunites With Co-Founder as It Expands Into Quantitative Credit Trading
Boaz Weinstein’s hedge fund strengthens its systematic trading push with key hires from Millennium, King Street, and Jane Street.
New York, August 18 EST: Saba Capital Management, the hedge fund led by veteran trader Boaz Weinstein, is doubling down on its push into quantitative credit trading with a high-profile round of recruitment. The firm, which oversees roughly $6 billion in assets, is bringing back a co-founder and adding heavyweight talent from across Wall Street as it readies a new systematic strategy.
Saba Reunites With a Co-Founder
According to Reuters, longtime Weinstein collaborator Jeremy Benkiewicz will rejoin Saba in February 2026 as a partner. Benkiewicz, who co-founded the firm with Weinstein in 2009, previously ran portfolios at Millennium Management, where he spent the past five years specializing in credit and cross-asset relative value strategies. His return marks a notable reunion with Weinstein after nearly a decade apart.
Industry observers see his comeback as both symbolic and practical. Benkiewicz brings a track record of steering through volatile credit markets, from distressed bonds to convertible arbitrage, and his presence signals a deepening of Saba’s conviction in credit-focused systematic trading.
New Blood Goodwin to Spearhead Quant Credit
Joining alongside him is Kieran Goodwin, a former senior figure at King Street Capital, who will step in as a partner tasked with building Saba’s new quantitative credit trading initiative. Goodwin’s background in event-driven and structured credit could prove pivotal as Saba attempts to scale strategies that blend traditional credit expertise with algorithmic execution.
This follows recent hires from Jane Street, where quant traders Robert Rappleye and David Buckman made their mark before moving to Saba earlier this year. Together, they form the nucleus of what Weinstein is calling the Saba LT platform.
Saba LT Systematic Trading With a Credit Twist
The soon-to-launch Saba LT is designed to exploit inefficiencies across corporate bonds, structured products, and derivatives by relying on systematic models. According to people familiar with the plans, the strategy will emphasize electronification of bond markets a trend that has accelerated in the past decade as more credit trading migrates to electronic platforms.
By leaning into automation and data-driven execution, Weinstein is positioning Saba to compete directly with established quantitative powerhouses such as Citadel Securities, Millennium, and Two Sigma, which have steadily expanded into fixed-income systematic strategies.
The Talent Wars on Wall Street
The timing of Saba’s expansion underscores a broader reality hedge funds are locked in an escalating war for talent. Firms like Millennium and Point72 have been aggressively recruiting seasoned portfolio managers, often with multimillion-dollar pay packages, to capture alpha in increasingly efficient markets.
What sets Saba apart, however, is its focus. Weinstein has carved out a reputation for contrarian credit trades, including high-profile bets on closed-end bond funds and opportunistic positioning during the COVID-19 market shock. Now, by marrying that legacy with quantitative muscle, he’s hoping to offer investors both the intuition of seasoned traders and the scale of systematic execution.
A Market in Transition
Saba’s expansion comes at a time when credit markets are undergoing significant change. Electronic bond trading, once niche, now accounts for a growing share of U.S. investment-grade and high-yield volumes. Platforms like MarketAxess and Tradeweb have helped drive transparency and speed, creating new opportunities for arbitrage strategies that rely on micro dislocations across sectors and maturities.
Still, challenges loom. Liquidity in corporate bonds remains uneven, particularly during market stress, and systematic approaches have not always translated seamlessly from equities to credit. For that reason, Saba’s mix of human oversight and algorithmic execution may be crucial in convincing institutional investors that the firm can balance innovation with risk control.
Investor Outlook
With $6 billion under management, Saba is not among the industry’s largest hedge funds, but its size gives it flexibility. Weinstein has long argued that being mid-sized allows him to move quickly in illiquid markets without the drag of massive scale. That agility could prove advantageous as Saba LT launches into what is shaping up to be an increasingly competitive space.
For now, the hires of Benkiewicz and Goodwin mark a bet on continuity and reinvention at once. By reuniting with trusted talent and bringing in outside leadership, Weinstein is signaling that Saba intends to be more than a boutique credit shop it wants a seat at the table in systematic trading’s next frontier.
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A Wall Street veteran turned investigative journalist, Marcus brings over two decades of financial insight into boardrooms, IPOs, corporate chess games, and economic undercurrents. Known for asking uncomfortable questions in comfortable suits.
