An activist American hedge fund has increased its stake in Britain’s largest student housing provider, Unite Group, according to a recent regulatory filing. Saba Capital, led by Boaz Weinstein, has amassed an interest exceeding 5 percent in the company through financial derivatives.

As of July 31, the hedge fund held 0.084 percent of voting rights in Unite Group via direct share ownership. Additionally, it controlled 5.04 percent through financial instruments, bringing its total holding to nearly 26.4 million voting rights. The combined stake places Saba Capital among the significant shareholders in the London-listed firm.

Unite Group, a major player in the UK student accommodation market, has not provided a public comment on the development. Efforts to obtain a statement from Saba Capital were also unsuccessful.

This move by an activist investor follows a trend of increased scrutiny and influence attempts by hedge funds in various London-listed companies. Saba Capital’s expanding position in Unite suggests a strategic interest that could signal potential calls for changes in the company’s governance or operations, although no specific demands have been disclosed.