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Saba Capital, the hedge fund led by Boaz Weinstein, has agreed to a three-year pause to its activist campaign against up to nine London-listed funds after a deal to secure the future of the Herald Investment Trust.
Herald on Thursday announced a tender offer for up to 66% of its issued share capital, intended to allow Saba – its largest shareholder – and other investors to sell at near net asset value or remain invested.
It comes after activist Saba declared victory in a controversial battle with SpaceX investor Edinburgh Worldwide
last month, in which it ousted the chair and five board members after a long-running fight.
