Weinstein ‘Buying Pessimism’ With Discount Private Fund Bids (1)

Everyday investors have billions of dollars stuck in portfolios of private credit, real estate and other hard-to-value assets. Enter Boaz Weinstein.

As cracks spread through private credit markets in recent weeks, the head of Saba Capital Management began offering investors quick cash for their stakes in such vehicles run by Blue Owl Capital Inc. Now he’s making the same proposal to backers of a Starwood Capital Group real estate fund that has severely curtailed withdrawals for nearly two years.

That’s just the beginning, Weinstein says. He’s considering tender offers for similar funds and portfolios that he expects will be ...