Boaz Weinstein’s Saba, Cox Launch Tender Offer for Blue Owl BDCs

Activist investor Boaz Weinstein is offering to buy shares in Blue Owl Capital Inc.’s business development companies after a challenging week for the lender and broader fears about bubbling risks in the $1.8 trillion private credit market.

Saba Capital Management, led by Weinstein, and Cox Capital Partners launched the tender with an offer price that’s expected to be at a 20% to 35% discount to the most recent estimated net asset value and dividend reinvestment price. That will be determined when tender offers start after a 10-business day notice period, Cox and Saba said in a statement Friday. ...