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

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...