Saba Capital Pauses Activism Against UK Funds After Herald Investment Trust Deal
Saba Capital, led by Boaz Weinstein, has agreed to a three-year standstill in its activist campaigns against nine UK investment trusts following a deal involving Herald Investment Trust. Herald announced a tender offer for up to 66% of its shares, allowing Saba and other investors to sell at near net asset value. The fund will be managed by Aberdeen Investments starting later this year.
Topics: activist investor hedge fund investment trusts management change takeover