Saba Capital Applauds Vertical Capital Income Fund’s Transaction with Carlyle Global Credit Investment Management

Rhea-AI Summary

Saba Capital Management has expressed support for the proposed transaction between Vertical Capital Income Fund (NYSE: VCIF) and Carlyle Global Credit Investment Management. Partner Pierre Weinstein emphasized the potential benefits for shareholders, highlighting the planned tender offer as a significant opportunity. Saba views Carlyle's involvement as a positive development for investors in closed-end funds.

Positive

• Support from Saba Capital indicates confidence in VCIF's strategic direction.
• The planned tender offer is viewed as an attractive opportunity for shareholders.
• Carlyle's entry into the fund management space is perceived as beneficial due to its high caliber.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Saba Capital Management, L.P. and certain associated parties (collectively “Saba” or “we”) today declared its support for the announced transaction between Vertical Capital Income Fund (NYSE: VCIF) (“VCIF” or the “Fund”) and Carlyle Global Credit Investment Management (“Carlyle”).

Pierre Weinstein, Partner at Saba, commented:

“Saba appreciates the Fund’s Board engaging in the process to find a new advisor for VCIF. We believe the transaction presents attractive opportunities for all shareholders, including through the planned tender offer. It is a positive development for closed-end fund investors that a manager of Carlyle’s high caliber is entering the space.”

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. Founded in 2009 by Boaz Weinstein, the Firm is a pioneer of credit relative value and capital structure trading. The Firm is headquartered in New York City. Learn more at www.sabacapital.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230112005864/en/

Longacre Square Partners

Greg Marose / Kate Sylvester, 646-386-0091

gmarose@longacresquare.com / ksylvester@longacresquare.com

Source: Saba Capital Management, L.P.

FAQ

What is Saba Capital Management's position on the VCIF and Carlyle transaction?

Saba Capital Management supports the transaction between Vertical Capital Income Fund (VCIF) and Carlyle Global Credit Investment Management, viewing it positively for shareholders.

How might the planned tender offer benefit VCIF shareholders?

The planned tender offer is expected to provide attractive opportunities for VCIF shareholders.

Who commented on the VCIF and Carlyle transaction?

Pierre Weinstein, Partner at Saba Capital, commented on the transaction, expressing support and highlighting its potential benefits.

What does Saba Capital believe about Carlyle's involvement with VCIF?

Saba Capital believes that Carlyle's entry as a manager is a positive development for closed-end fund investors.