Saba Capital Management pushes for value enhancement in UK investment trusts
Deal News | Dec 18, 2024 | White & Case
Global law firm White & Case LLP is advising Saba Capital Management, L.P. in a strategic initiative aimed at enhancing shareholder value in seven UK investment trusts. The campaign, a significant push by Saba, intends to address the disparity between trading prices and net asset values by requisitioning general meetings. These meetings are set to consider reconstituting the boards with directors capable of bridging these valuation gaps. Affected trusts include those managed by noted firms such as Baillie Gifford and Janus Henderson. The outcome of this campaign could potentially reshape the UK investment management landscape, as expressed by Tom Matthews, a partner at White & Case leading the advisory team.
Sectors
- Legal Advisory
- Investment Management
Geography
- United Kingdom – The geographic focus of the initiative is the UK, as it involves UK-based investment trusts.
Industry
- Legal Advisory – The article highlights the role of White & Case in providing legal advice to Saba Capital.
- Investment Management – Saba Capital is involved in launching a strategic initiative targeting investment trusts, a key sector within investment management.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| White & Case LLP | Legal Advisor | Company | Global law firm advising Saba Capital on their strategic campaign. |
| Saba Capital Management, L.P. | Initiating Company | Company | Investment firm undertaking a strategic campaign to enhance shareholder value in UK trusts. |
| Baillie Gifford | Current Manager of Target Trusts | Company | One of the managers of the UK investment trusts targeted by Saba. |
| Herald Investment Management | Current Manager of Target Trusts | Company | One of the managers of the UK investment trusts targeted by Saba. |
| Janus Henderson Investors | Current Manager of Target Trusts | Company | One of the managers of the UK investment trusts targeted by Saba. |
| Manulife | CQS Investment Management | Current Manager of Target Trusts | Company | One of the managers of the UK investment trusts targeted by Saba. |