In this article
Saba Capital, the activist hedge fund led by Boaz Weinstein, has won a dramatic victory in its long-running campaign against the board of Edinburgh Worldwide Investment Trust
Shareholders in Edinburgh Worldwide voted Thursday for Saba Capital’s plan to oust EWIT chair Jonathan Simpson-Dent — and five other board members — and to install three Saba-backed board nominees.
The result gives Weinstein’s firm control of Baillie Gifford-run EWIT, which is focused on cutting-edge public and private technology companies and which offers rare public-market access to SpaceX.
SpaceX, whose private market valuation has soared ahead of an imminent IPO, is EWIT’s largest holding, at about 20% of its portfolio.
