Boaz Weinstein’s Saba Ramps Up Activist Bets

The hedge fund firm has recently taken activist stakes in four closed-end funds, and declared passive stakes in three.

Illustration by II

Illustration by II

Boaz Weinstein’s Saba Capital Management is turning up the heat on closed-end funds.

Since March 1, the credit-oriented hedge fund has submitted 13D filings suggesting that it may take some sort of action on at least four different funds. This has included threatening to launch a proxy fight against one of them, in order to narrow the discount the fund is trading at compared to its net-asset value.


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