Verition Fund Management, the $10bn multi-strategy hedge fund firm founded by Nicholas Maounis and Josh Goldstein, has appointed Pierre Weinstein, a partner and portfolio manager at Saba Capital Management, as Head of Special Situations Investing, according to a report by Bloomberg.

Weinstein – no relation to Saba Capital founder Boaz Weinsten – is set to take up his new role in early 2025.

The report cites an internal memo reviewed by Bloomberg News, as revealing that Weinstein will oversee a team focused on implementing various tactical and opportunistic trading strategies. He will be based in New York and take on a pivotal role in expanding Verition's multi-strategy approach.