economy
April 30, 2026
Boaz Weinstein’s activist investor Saba seizes control of UK tech fund after bitter SpaceX feud
The Edinburgh Worldwide Investment Trust conceded defeat to the Boaz Weinstein's activist fund on Thursday.
TL;DR
- Saba Capital, an activist hedge fund, has gained control of Edinburgh Worldwide Investment Trust (EWIT).
- Shareholders voted to oust the current EWIT chair and five other board members, replacing them with three Saba-backed nominees.
- EWIT's largest holding is SpaceX, which has been a point of contention between Saba and the EWIT board.
- Saba plans to become the new manager of EWIT and overhaul its investment strategy.
- The shift in control was influenced by U.S. institutional funds replacing retail and private wealth investors in EWIT's share base.
- This victory is expected to impact other UK investment trusts where Saba holds stakes.
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