Maglan Joins Other Hedge Funds in Rush to Argentinian Assets

Distressed/special situation hedge fund, Maglan Capital, up 4.59 percent in August and holding on to a 16.23 percent gain year to date, has recently increased its stake in both an energy company and entertainment firm, according to a letter to investors reviewed by ValueWalk. In July, Maglan’s hedge fund managers David Tawil and Steven Azarbad used a drawdown in Madalena Energy Inc (CVE:MVN) (OTCMKTS:MDLNF) and SFX Entertainment Inc (NASDAQ:SFXE) to boost a position in the two stocks. Madalena acquired Gran Tiera Energy In a potential play on Argentina’s vast oil shale wealth, Madalena Energy recently acquitted Gran Tiera Energy, which has cash-flow positive operations in the…