Turnaround Investor Maglan Capital Gains 7.8% In March

Apr 10 2017 | 9:27pm ET

Distressed investing specialist Maglan Capital has reported a +7.82% gain net of all fees and expenses for March, widely outperforming broader underlying markets as well as its comparable HFRI benchmark index.

The event-driven fund’s strong return was driven by a rebound in the share prices of telecommuncations company FairPoint Communications and sizable gains in satellite provider Globalstar, according to an investor update seen by FINalternatives

Despite the gain, Maglan is down a net -0.17% for the year to date. In comparison, Hedge Fund Research’s benchmark HFRI ED: Distressed Restructuring Index lost -0.92% in March but is up +1.42% YTD.

In the update, the company also announced that investment in Maglan Capital is now available through Fidelity Investments. For investors with Fidelity accounts, Fidelity can facilitate investment in Maglan for IRA retirement funds and for general wealth-management funds.

Founded in 2011 by former Credit Suisse executives David Tawil and Steven Azarbad, Maglan is an event-driven hedge fund with a focus on the liquid instruments of companies approaching, in, or exiting bankruptcy. The company carries a concentrated portfolio of investments across the capital structure of small- and mid-cap companies with core focus on financial distress, restructuring and operational turnaround. 


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of