-

Saba Capital Reaches Agreement Regarding Salient Midstream & MLP Fund

Agreement Secures “Saba Special Distribution” Paid to All Shareholders

NEW YORK--(BUSINESS WIRE)--Saba Capital Management, L.P. and certain associated parties (collectively “Saba” or “we”) today announced that it has reached an agreement regarding Salient Midstream & MLP Fund (NYSE: SMM) (the “Fund”).

Under the terms of the agreement, Saba has agreed to support the Fund’s reorganization into a lower fee open-end mutual fund, Salient MLP & Energy Infrastructure Fund. In addition, the Fund’s investment advisor will make a payment of $300,000 to the Fund, to be paid out to all shareholders as a special “Saba Special Distribution”.

“Saba is excited to have reached this agreement through constructive engagement with the Fund’s board and its advisor,” said Paul Kazarian, Partner and Portfolio Manager at Saba. “As a result, shareholders who choose to exit the Fund will be able to do so at a premium to its net asset value because of the Saba Special Distribution. Shareholders who choose to stay in the open-end fund will benefit from the Saba Special Distribution as well as a 20% reduction in their management fee going forward.”

About Saba Capital

Saba Capital Management, L.P. is a global alternative asset management firm that seeks to deliver superior risk-adjusted returns for a diverse group of institutional clients. The firm, which is a pioneer of credit relative value and capital structure trading, currently invests across four core strategies: Credit Relative Value, Tail Hedge, SPACs and Closed-End Funds. Founded in 2009 by Boaz Weinstein, Saba is privately held by its partnership and headquartered in New York City. Learn more at www.sabacapital.com.

Contacts

Longacre Square Partners
Greg Marose / Kate Sylvester, 646-386-0091
gmarose@longacresquare.com / ksylvester@longacresquare.com

Industry:

Saba Capital Management, L.P.

NYSE:SMM
Release Versions
English

Contacts

Longacre Square Partners
Greg Marose / Kate Sylvester, 646-386-0091
gmarose@longacresquare.com / ksylvester@longacresquare.com

More News From Saba Capital Management, L.P.

Saba Capital and Cox Capital Partners Announce Commencement of Tender Offer for Shares of Blue Owl Capital Corporation II

NEW YORK--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, “Saba”) and Cox Capital Partners (“Cox”) (together with Saba, the “Purchasers”) today announced the commencement of a tender offer to purchase outstanding shares (“Shares”) of Blue Owl Capital Corporation II (“OBDC II”), a non-traded business development company with limited liquidity. The OBDC II offer (the “Tender Offer”) will commence on March 6, 2026, and will expire at 5:00 p.m. Eastern Time...

Saba Capital and Cox Capital Partners Announce Commencement of Tender Offer for Shares of Starwood Real Estate Income Trust

NEW YORK--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, “Saba”) and Cox Capital Partners (“Cox”) (together with Saba, the “Purchasers”) today announced the commencement of a tender offer to purchase outstanding shares (“Shares”) of Starwood Real Estate Income Trust (“SREIT”), a non-traded real estate fund with limited liquidity. The SREIT offer (the “Tender Offer”) will commence on March 5, 2026, and expire at 5:00 p.m. Eastern Time on April 25, 2026,...

Saba Capital Launches UK Investment Trust ETF Designed for Investors to Profit from Narrowing Discounts

LONDON--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, “Saba” or “we”) today announced the launch of the Saba Capital Investment Trusts UCITS ETF (“UKIT” or the “ETF”), an actively managed ETF that seeks to achieve capital appreciation by investing in investment trusts trading at attractive discounts to net asset value (“NAV”). UKIT invests in trusts with underlying holdings in public and private equities, bonds and alternative asset classes such as rea...
Back to Newsroom