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Hearts & Minds’ heavyweight board stares down New York hedge fund

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The high-profile board of Hearts & Minds has sought assurances from an aggressive New York-headquartered hedge fund that it will not push to wind up the $700 million ASX-listed charity investment vehicle.

Saba Capital has increased its stake to nearly 10 per cent of the fund as it pursues an aggressive global strategy of targeting so-called closed-end vehicles that are trading at discount to their underlying asset values.

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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
Joshua Peach is a Markets Reporter at The Australian Financial Review Email Joshua at joshua.peach@nine.com.au

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    Original URL: https://www.afr.com/markets/equity-markets/hearts-and-minds-heavyweight-board-stares-down-new-york-hedge-fund-20240227-p5f88o