Blue Owl Investors Spurn Saba’s BDC Buyout Tilt

Welcome to Going Private, I’m Sinead Cruise and this is Bloomberg’s twice-weekly newsletter about private markets and the forces moving capital away from the public eye. Today, we explore the increasing opportunities for direct lenders in Brazil, retail investors’ new-found appreciation for bond funds and the nervous times ahead for backers of India’s biggest private credit borrower. But first we look at the short shrift for Boaz Weinstein’s steeply discounted Blue Owl BDC tender offer. If you’re not already on our list, sign up here. Have feedback? Email us at goingprivate@bloomberg.net

The audacious pitch came during a moment of panic for many retail investors in private credit. Even so, very few backers of Blue Owl Capital Corp. II were spooked enough to cash out for a song.