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0 0 0.000559910414333595 0.000145576707726623 0.00108622620380725 0.00221724524076148 0.00221724524076148 0.00221724524076148
Stock impact report

Saba Capital finds little appetite for tender offer of shares in Blue Owl, Starwood private credit funds [CNBC]

Blue Owl Capital Inc. Class A (OWL) 
Company Research Source: CNBC
Investors in Starwood Real Estate Income Trust were also made a similar offer at a 24% or 29% discount, based on the share class. On Monday, Saba said that through these tenders it was able to acquire about $10 million in aggregate face value across 190 separate trades, “substantially all” from SREIT. The tender for Blue Owl reportedly failed to garner more than 1% of what was offered. Saba Capital Management said that the tender offers for shares in non-traded business development companies managed by Blue Owl Capital and Starwood Capital came in “below initial expectations.” In early March, the hedge fund Saba offered liquidity to locked-up investors in Blue Owl Capital Corporation II (OBDC II), a non-traded private-credit fund, at a 35% discount. It launched a similar program at Starwood Real Estate Income Trust (SREIT) at a 24% or 29% discount, depending on the share class. On Monday, Saba said that through the tenders, it was able to acquire about $10 million in aggregat Show less Read more
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