Battle for £1bn Scottish company intensifies as investors urged to act in crunch vote
Edinburgh investment partnership Baillie Gifford has been in the headlines again in the last week.
Tim Campbell, its chief executive, highlighted “a huge amount of growth opportunity” as he reflected on his time in the top role, which he took up in April last year, in an interview published in The Herald on Thursday.
He also spoke candidly when asked if the job had been what he expected.
Separately last week, the £1 billion Baillie Gifford US Growth Trust, which is managed by the Edinburgh fund management house and has holdings including Elon Musk’s SpaceX, artificial intelligence giant Anthropic and payments platform group Stripe, was again in the spotlight ahead of a crunch vote.
US hedge fund manager Boaz Weinstein’s Saba Capital Management is seeking to install three individuals it has nominated to the board of Baillie Gifford US Growth Trust, of which it owns about 29%. It has tabled resolutions to appoint Jason Chen, James Waterlow and Thomas McGlade at the investment trust’s annual general meeting on October 23.
The Association of Investment Companies (AIC) industry body declared on Tuesday that “shareholders in Baillie Gifford US Growth must turn out in force to determine the trust’s future”.
As well as Saba’s 29% holding in Baillie Gifford US Growth Trust, AIC chief executive Richard Stone highlighted the stake of “another US hedge fund”.
Mr Campbell has said it would be........
