(Reuters) Boaz Weinstein’s hedge fund Saba Capital has been pulling in new money this year even as many rival investors are being asked to return cash to their clients.
The bulk of money went into Saba’s newly launched portfolio that invests in closed-end bond funds, a person familiar with the firm said on Tuesday.A spokesman for the firm declined to comment.An anchor investor wrote a $70 million check in February while other clients have put in $20 million, the person said. This leaves the six-month old Saba Capital CEF Opportunities fund with $100 million in assets.
