Saturday, 20 September 2014
Last updated 1 day ago
Apr 9 2014 | 9:50am ET
Despite a tough March for many hedge funds, Maglan Capital gained 0.88% for the month, bringing the fund’s year-to-date returns to 11.08%.
“In March, two of our catalyst-driven investments performed well and drove our results; Madalena Energy (MVN; trades on the Toronto Exchange) and Globalstar (GSAT),” David Tawil, who co-founded the firm with Steven Azarbad, told FINalternatives. “Our catalyst-driven investments are intended to provide gains that are uncorrelated to the market, and therefore provide insulation to the portfolio in times of general market pullback.”
During the previous 12 months, the New York-based event-driven fund has gained 65.17%. It returned 59% in 2013 and 41% in 2012.
Maglan Capital now has approximately $70 million in assets under management. The firm 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.