Hedge fund Saba settles valuation dispute with PSP Investments: Reuters
A Wall Street hedge fund and a Canadian pension plan have settled a legal dispute over the value of investments, Reuters reported. In 2015, Public Sector Pension Investment Board (PSP Investments) sued Saba Capital Management LP and its founder, Boaz Weinstein, in New York state court, arguing that the hedge fund manager had marked down some assets after the pension asked for its US$500 million investment back earlier in the year. The move, PSP argued, essentially allowed Saba to keep more money than it should have.
21 March 2017•2 mins read
