Saba Capital Gains Control of Edinburgh Worldwide Investment Trust After Activist Campaign

Control of Edinburgh Worldwide Investment Trust has been handed to Boaz Weinstein's firm Saba Capital. The trust focuses on growth investments in cutting-edge tech companies. Saba had criticized Edinburgh Worldwide Investment Trust's sale of around 35% of its SpaceX stake in October.

U.S. business. Saba Capital released a presentation detailing why Edinburgh Worldwide Investment Trust PLC shareholders deserve a new board of directors.

According to media reports in December 2025, EWIT had made a 950% return on its 2018 investment in a private offering of shares in SpaceX. On Thursday, the trust proposed a 66% tender offer to halt any further action from Saba. Saba owns a 30% stake in the fund.

Benzinga reported that Saba Capital is now looking to raise $1 billion to invest in the struggling private credit sector. The report on the capital raise was published on April 27, 2026. The sequence of events began with Saba's criticism of the partial SpaceX stake sale last October.

That move, according to Saba, appeared aimed at facilitating the merger rather than maximizing value for shareholders in the tech-focused trust. Edinburgh Worldwide Investment Trust's strong historical performance on the SpaceX investment stood in contrast to the later decision to sell a significant portion of the position.

The 950% return, achieved from the 2018 private offering, had been highlighted in media coverage at the end of 2025.

Saba's presentation laid out the case for replacing the board, framing the October transaction as misaligned with shareholder interests. The activist firm's 30% ownership gave it substantial leverage in the dispute that culminated in Thursday's developments. The trust's proposal of a 66% tender offer represented an attempt to resolve the standoff by offering liquidity to shareholders.

Saba responded through Weinstein's statement praising boards that prioritize those they serve. Weinstein's firm has now secured control even as it pursues an expansion of its own activities. The $1 billion fundraising effort targets opportunities in private credit amid challenges in that market sector.