$60M Maglan Up 47%

Dec 16 2013 | 10:23am ET

A small New York hedge fund is posting some very big returns this year.

Maglan Capital, a concentrated event-driven strategy, is up an impressive 47.28% this year. The fund, which managed $60 million, rose 5.3% last month.

Maglan is poised for its second-straight year with returns in excess of 40%; last year, it rose 41%. The firm, found by Steven Azarbad and David Tawil in 2011, lost 34.8% that year.

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