Saba Capital discloses 5% stake in Derwent London
The US investor holds 5.091840% of voting rights in the London office REIT, mostly through a total return swap, a regulatory filing shows.
US investor Saba Capital Management has disclosed a 5% stake in London office REIT Derwent London. A regulatory filing this week shows it holds 5.091840% of voting rights, the majority through a total return swap.
UK-based investors must disclose holdings in British companies above 3%. Saba is US-listed and does not need to disclose a holding until its stake passes 5%.
Derwent London recently reported a half-year loss of £18.8m for 2026, against a £94.5m profit a year earlier. It also raised its 2026 earnings growth guidance, citing strong occupier demand for its prime office assets.
New York-based Saba is led by fund manager Boaz Weinstein. This year it built a stake of up to 4% in student accommodation provider Unite Group in July, and a 5% stake in residential landlord Grainger.
Saba also holds 29.1% of Workspace Group, making it the company's largest shareholder. In July, Workspace shareholders overwhelmingly backed the flex office firm's board and rejected Saba's proposals to replace board members and change strategy.
In a statement, Saba said: "Saba is Workspace's largest shareholder and will continue to closely monitor the performance of the company and board."
