-

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 Recommends New Board of Directors at Edinburgh Worldwide Investment Trust PLC, if Elected, Offer Shareholders a 100% Cash Exit at 99% of NAV

LONDON--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, “Saba” or “we”), the largest shareholder of Edinburgh Worldwide Investment Trust PLC (EWI:LSE) (“EWI” or the “Company”), today issued the following statement regarding its recommendation that, if elected, a new independent Board of Directors (the “Board”) offer the Company’s shareholders a full cash exit near net asset value (“NAV”). “No amount of quibbling over benchmark selection can obscure the f...

Saba Capital Proposes Resolutions to Elect a New Board of Directors at Edinburgh Worldwide Investment Trust PLC’s 2026 Annual General Meeting

LONDON--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, “Saba” or “we”), the largest shareholder of Edinburgh Worldwide Investment Trust PLC (EWI:LSE) (“EWI” or the “Company”), today announced that it has proposed resolutions to be added to the notice of the Company’s upcoming Annual General Meeting to enable EWI shareholders to elect three new qualified, independent directors and reject the re-election of the incumbent directors. In connection with this...

Saba Capital Releases Letter Sent to Workspace Group Plc’s Board of Directors

LONDON--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, “Saba” or “we”), which owns approximately 13.5% of the outstanding share capital of Workspace Group plc (WKP:LSE) (the “Company”), today disclosed that it sent a letter to the Company’s Board of Directors (the “Board”) on 8 January 2026. In the letter, Saba urged the Board to recommend the Company proceed with a managed wind-down, which should include an orderly strategic sale of its assets, systema...
Back to Newsroom