Saba Capital Management, L.P. (New York)

Saba Capital Management, L.P. is a large advisory firm based in New York. It manages $4.26 billion of regulatory assets for 27 client accounts. It has been registered with the SEC as an adviser since 2010.

Saba Capital Management provides portfolio management for investment companies, portfolio management for pooled investment vehicles, and separately managed accounts. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Saba Capital Management: assets under management

The assets under management (AUM) of Saba Capital Management, L.P. is $4.26 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 326% since the beginning of its operation, and $3.11 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $4.26 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $157.69 million each.

Saba Capital Management has custody of $4.2 billion in cash and securities for 25 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in cash and cash equivalents the most. They account for 99% of the total AUM. The second-largest asset type is investment and business development companies, which make up 1% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Saba Capital Management, L.P. for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Saba Capital Management serves?

The firm provides services to investment companies and pooled investment vehicles. The largest group of clients of Saba Capital Management is pooled investment vehicles with 25 clients and $4.15 billion of assets under management. Among the 12 most similar advisory firms, Saba Capital Management has the 2nd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $4.2 billion for 26 clients. 75% of the firm’s clients are foreign persons or businesses.

Saba Capital Management also advises several private funds. Namely, ten hedge funds. The minimum investment commitment required of non-related persons ranges from $0 to $100,000,000.

Careers at Saba Capital Management, L.P.

The company employs 30 people that are either part- or full-time employees. 33 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Zeqi George Pan	Partner partner (saba capital management, lp)	1 Mar 2009	Other	4505393
Boaz Ronald Weinstein	Cio, partner, founder (saba capital management, lp)	1 Mar 2009	50% - 75%	2642143
Paul Anthony Andiorio	Partner (saba capital management, lp)	1 Mar 2009	Other	2350131
Jeremy Marcel Benkiewicz	Partner (saba capital management, lp)	1 Mar 2009	Other	3146171
Kenneth John Weiller	Partner, chief operating officer (saba capital management, lp)	1 Mar 2009	Other	5075046
L.L.C. Saba Capital Management Gp	General partner (saba capital management, lp)	1 Mar 2009	Other	80-0361683
Jeremy Benkiewicz	Member of general partner, portfolio manager	1 Mar 2009	Other	3146171
Kenneth J. Weiller	Chief operating officer, chief risk officer	1 Mar 2009	Other	5075046
Carl A Casler	Chief financial officer, chief compliance officer	1 Jul 2009	Other	4857595
Carl Anthony Casler	Chief compliance officer, chief financial officer	1 Jul 2009	Other	4857595
Pierre Weinstein	Partner (saba capital management, lp)	1 Jan 2011	Other	4443130
Saba Capital (Uk) Limited	Partner (saba capital management (uk) llp)	1 Jun 2011	75% - 100%	98-1021232
Prakash Narayanan	Partner (saba capital management, lp and saba capital management (uk) llp)	1 Jan 2012	Other	4592420
Robert Kenneth Simonds	General counsel, chief compliance officer	1 Feb 2012	Other	5918077
Muquarrab Bin Karim	Chief financial officer (saba capital management, lp)	1 May 2014	Other	4382171
Douglas Andrew Chiciak	Chief compliance officer (saba capital management, lp)	1 Feb 2015	Other	5551546
Michael D D Angelo	Chief compliance officer & general counsel (saba capital mangement, l.p.)	1 Nov 2015	Other	5202591
Cameron Anthony Hillyer	Chief financial officer (saba capital management, lp)	1 May 2016	Other	6027922
Cameron Anthony Hillyer	Partner, chief operating officer (saba capital management, lp)	1 Oct 2017	Other	6027922
Nitin (Nmn) Sapru	Chief financial officer	1 Oct 2017	Other	4609491
Andrew Michael Kellerman	Partner, head of investor relations	1 Apr 2018	Other	2269259
Nitin (Nmn) Sapru	Partner, chief financial officer (saba capital management, lp)	1 Dec 2018	Other	4609491
Xavier Antoine Riera	Partner (saba capital management, lp)	1 Dec 2018	Other	4425516

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
L.P. Saba Capital Management	Partner	1 Jun 2011	75% - 100%	154362

Based in New York

The principal office where Saba Capital Management, L.P. performs its advisory services is located at 405 Lexington Ave, New York, NY 10174 7199, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-542-4635. The normal business hours are 9am - 5pm on Monday - Friday.