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

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


Key Points
  • In March, Saba offered liquidity to investors who were locked in Blue Owl Capital Corporation II, a non-traded private credit fund, at a 35% discount.
  • 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.



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