Saba’s Boaz Weinstein to join SDL Efficiency board as income as trust winds down
Saba Capital founder Boaz Weinstein is set to join the board of SDCL Efficiency Income alongside former Devon Equity Management chief executive Richard Pavry as the investment trust moves ahead with a managed wind-down, according to a report by QuotedData. The appointments will give two major shareholders direct representation on the board as it oversees the disposal of the trust’s portfolio and…
Boaz Weinstein, founder and chief investment officer of Saba Capital, is set to join the board of SDCL Efficiency Income as the investment trust prepares for a managed wind-down, according to QuotedData. This appointment will provide direct representation for two major shareholders, Weinstein's Saba Capital and General Atlantic, in overseeing the disposal of the trust's portfolio and the return of capital to investors.
Weinstein holds a 27.8% economic interest in SDCL Efficiency Income, while General Atlantic is the trust's second-largest shareholder with a 16% stake. The board is currently reviewing the nominations and seeks shareholder approval at a general meeting in London on October 15th. Both Weinstein and Richard Pavry, a former chief executive of Devon Equity Management, will serve as non-independent non-executive directors without receiving fees for their roles.
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