Investors in a Blue Owl Capital Inc. (NYSE:OWL) fund tendered less than 1% of their shares to Saba Capital Management, led by Boaz Weinstein and Cox Capital Partners, despite the firms’ offer to purchase the stakes at a considerable markdown.
Shares in Blue Owl Capital Corp. II, one of the firm’s non-traded business development companies (BDCs), were met with limited participation. The tender offer will not be extended, according to Bloomberg.
The lack of participation in the tender offer suggests that investors are choosing to hold their shares rather than sell at prices below their original purchase cost, amid the private credit sector’s chaos.
The $1.8 trillion private credit sector has been under fire in recent weeks as investors are concerned about …
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