Event-Driven Specialist Maglan Adds 5.8% In February

Mar 14 2014 | 10:13am ET

New York-based event-driven hedge fund Maglan Capital added 5.8% in February, bringing its year-to-date gains to 10.12%.

The fund continued its strong showing from 2013, when it generated a 59% return.

In their most recent letter to investors, Maglan founders David Tawil and Steven Azarbad said the February gains were spread throughout their core long portfolio.

“In addition,” they wrote, “...our investments in gold through the gold-miners, which were put on principally as a hedge against any pullback that might result from 2013’s run-up in equities, contributed to additional appreciation of the portfolio. Lastly, a new position in February, taken in the equity of a consumer-retail chain executing on an operational turnaround, [hhgregg] that was treated to an overly-harsh sell-off in January, had a 35%+ rebound last month.”

Maglan Capital focuses on all parts of the distressed cycle, investing in liquid instruments across the capital structure of companies approaching or experiencing financial distress, bankruptcy or restructuring.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...