Saba Capital tender offers for Blue Owl and Starwood funds attract limited investor interest
Updated
Updated · CNBC · Apr 27
Saba Capital tender offers for Blue Owl and Starwood funds attract limited investor interest
10 articles · Updated · CNBC · Apr 27
Saba Capital acquired only about $10 million in aggregate face value, mostly from Starwood's SREIT, with Blue Owl shares accounting for less than 1% of the total.
The offers, made at discounts up to 35%, came amid high redemption requests and limited liquidity in non-traded private-credit funds. Saba plans to consider bids on additional products, including Cliffwater and Blue Owl's OCIC.
Saba claims its actions prompted Starwood to commit new equity for redemptions and aims to provide ongoing liquidity as credit risk in the sector is expected to rise through 2027 and 2028.
Saba's lowball offers failed. Are investors less desperate for cash than believed?
As regulators circle private credit, what new rules could reshape the industry?
Is the 'retailization' of private credit a ticking time bomb for everyday investors?
Is investor fear over AI risk in loan portfolios a valid concern or a panic?
When redemption gates rise, are the official values of these funds pure fantasy?
Can the private credit market survive a true credit cycle without causing a crisis?