Fri, Apr 29, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Maglan Capital’s distressed fund ends 2012 up 41.03% (+9.39% in December)

Thursday, January 17, 2013

From Komfie Manalo, Opalesque Asia:

Maglan Capital LP reported that their distressed master fund had gained 41.03% in 2012 (and +9.39% in December). The fund focuses on identifying liquid instruments of corporations either in or approaching bankruptcy, restructuring or other value-unlocking events.

Maglan Capital LP manages the investments of Maglan Distressed Fund and Maglan Distressed Offshore Fund Ltd, which invest substantially all of their assets in Maglan Distressed Master Fund.

The master fund’s benchmarks did not do as well: the S&P 500 Total-Return Index returned only 0.91% in December (15.99% YTD) and the Credit Suisse High-Yield Total-Return Index gained 1.50% (14.72% YTD).

"This past year has seen considerable appreciation in our investment positions; however, we’ve got lots of room to run," Maglan co-founders and portfolio managers Steven Azarbad and Davi D. Tawil told investors in a monthly letter. They confirmed that they are focused on "deep-value situations that are out-of-favor with large funds, either because of the small investment size or because the positions are orphaned."

Despite the huge success in 2012, Maglan said the year also taught them some lessons. First, the fund learned from its investment in Philadelphia Media, that they should leave resuscitation of the newsprint industry to Warren Buffett, who in 2012 spent a small portion of Berkshire’s capital buying loca......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Performance - Blackstone profits plunge 77% as performance fees dive, Hedge fund stars' fortunes hostage to market swings, Hedge fund manager goes from billionaire to millionaire in profits plunge, Hedge funds biggest losers in SunEdison's 'magic money machine'[more]

    Blackstone profits plunge 77% as performance fees dive From FT.com: Blackstone, the world’s biggest manager of alternative investments from private equity to real estate, suffered from sharply lower performance fees amid turbulent markets in the first three months of the year, even as it

  3. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  4. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  5. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the