'Greed Is Laid Bare': Hedge Fund Manager Reveals The Dark Side Of The Private Credit Crisis

Boaz Weinstein runs Saba Capital Management, a $5 billion hedge fund best known for picking fights with closed-end fund managers. Now he’s picking a bigger one. He’s tendering to buy shares in Blue Owl Capital Inc’s (NYSE:OWL) private credit BDC at 65 cents on the dollar.Blue Owl’s retail investors have been trying to cash out of the fund, but redemption requests are piling up faster than the fund can pay. Weinstein is stepping in with a lowball bid, betting that some investors would rather take 65 cents no ...