Investors' disinterest in getting liquidity at a steep discount comes amid a quarter that saw elevated redemptions across most private-credit, non-traded BDCs.
Wall Street firm Blue Owl Capital was forced to stall investors taking money out of two of its flagship funds, after being hit by a wave of withdrawal requests.
Saba, alongside Cox Capital Management, launched a tender offer to purchase shares in one of Blue Owl's non-traded private credit funds at a 34.9% discount.