Saba Capital Lifts Its Blackstone Long-Short Credit Income Fund Stake to 6.91% From 5.87%
The amended filing says approximately $9,261,861 was paid to acquire the shares, funded by investor subscription proceeds, capital appreciation and margin account borrowings.
Saba Capital Management, L.P. increased its holding in Blackstone Long-Short Credit Income Fund to 878,054 common shares, or 6.91% of the class, according to an amended Schedule 13D filed Nov. 3 with the US Securities and Exchange Commission.
The filing gives Oct. 30 as the date of the event that required it. Saba's previous Schedule 13D, filed Oct. 21, reported a 5.87% stake. The percentages are based on 12,708,275 shares outstanding, as disclosed in the fund's N-CSRS filing, and the amendment says all trades since the Oct. 21 filing were made in the open market.
The filing is made jointly with Saba Capital Management GP, LLC and Boaz R. Weinstein, whom the filing describes as managing member of the general partner of Saba Capital. The amendment updates Items 3, 5, and 7, and lists Item 4, which sets out the purpose of the transaction, as "Not Applicable."
In the Oct. 21 filing, Saba said it bought the shares "because they believe that the Common Shares are undervalued and represent an attractive investment opportunity." That filing said Saba may hold discussions on matters including the shares trading at a discount to net asset value and the timing of any potential liquidation of the fund.
Saba Capital Management, L.P., one of the firm's SEC-registered advisers, reported $18.3 billion in regulatory assets under management and 12 private funds in the SEC's adviser data for September 2026.