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Our Strategies

We are organized in three broad areas: Event Driven, Fixed Income and Energy. In total, we employ over a dozen distinct sub-strategies.

Across these strategies, we seek to combine equity and fixed income skills and a relative value catalyst-driven approach. Our investment professionals focus on the full spectrum of "equity to credit" and "private to public" transactions. While we strive to pursue traditional opportunities in each of these areas, we also work to expand upon traditional opportunity sets by sourcing and evaluating opportunities that capitalize on market dislocations. We use a systematic approach in an effort to identify and capture alpha.

Event Driven

• The Event Driven strategies invest in listed companies where an announced corporate action or other catalyst creates an opportunity to capture alpha from a dislocation in security valuations. Our strategies include both Risk Arbitrage and Value with Catalyst investing.
• We seek alpha through rigorous fundamental analysis of individual situations; proper quantitative valuation of complex considerations; and thoughtful portfolio construction and risk management. We employ a robust tool set and IT environment to both enable and scale our investment processes.
• We seek to structure investments so as to express our fundamental views in the most forgiving way. To do so, we may invest in the credit and equity securities and derivatives of a given company.
• In Value with Catalyst, we seek to rely on our own idea flow for investment opportunities, and to apply a private market diligence view to our research.

Fixed Income

• The Fixed Income strategies invest across a broad range of asset classes and product forms. We invest in corporate, real estate and consumer credit-driven assets; both directly and through securitization instruments; and in both the primary and secondary markets. We employ both quantitative and fundamental skill sets in our strategies.
• We seek to select and structure investments that yield attractive returns across the broadest range of potential states of the world. The group allocates capital flexibly: allocating across sub-strategies to the best opportunities, and scaling investments when market dislocations offer more promising returns. We have invested in certain longer-dated strategies, believing that such strategies offer attractive opportunities.
• Four major investment sub-strategies in Fixed Income are:
  • Mortgages
  • Corporate Credit
  • Convertible Bonds
  • Structured Solutions

Energy

• The Energy strategy invests primarily in the North American energy sector by providing capital to public and private energy companies to finance growth. Investments are typically custom-structured and negotiated. Magnetar may invest across the capital structure in equity, preferred equity, convertible debt or debt.
• The strategy also invests in energy-related securities in the public markets on an ongoing basis.
• The strategy does not generally invest directly in underlying energy commodities, except to hedge portfolio risk exposures.

How We Operate

The Business of Building Businesses

We think of ourselves as long-term investors, not short-term traders. Where we identify a market opportunity, we seek to build a business to capture that alpha repeatedly over time. As investors, we seek to design and build investing platforms that are sustainable and scalable, and that are advantaged across the steps in the investment process (“source, evaluate, structure, risk manage”). We describe this as being in the business of building businesses.

Collaborative Organization and Culture

We have created a non-siloed investing environment. To exploit white-space opportunities, we frequently marshal capabilities across groups – in fundamental analysis and structuring, and in collaborating across debt and equity disciplines. We operate with a firm-wide Investment Committee focused on allocating capital to the best ideas, and have developed compensation structures that encourage and reward collaboration.

We have worked to foster a culture that is entrepreneurial, collaborative and open. Our people are passionate, driven, and have both intense intellectual curiosity and keen analytical ability. They are team players who enjoy working across groups.

Senior Back Office and Robust Infrastructure

Since our founding in 2005, Magnetar has placed emphasis on building strength in our back office and infrastructure. Today, more than half of our staff are back-office professionals. Back-office functions are led by extremely senior professionals.

We have organized and staffed our back office to support and enable key investing initiatives, to launch and maintain suitable products, to serve our clients effectively and well, and to protect the firm from regulatory and operational risks.

Additionally, we have sought to build a robust IT infrastructure, where doing so helps us execute our investment strategies on a scalable and repeatable basis. We believe this gives our strategies a competitive edge.

How We Invest

We believe market efficiency and capital inflows have shifted the opportunity set for traditional investors pursuing alternative strategies. Historically, multi-strategy managers operated within defined strategies, such as convertible bond arbitrage, long/short investing, etc. Specialist managers often sourced investment opportunities passively and exploited inefficiencies that were primarily structural and/or quantitative in nature. Together with a large number of conventional opportunities, these factors contributed to creating a siloed investment approach.

Today, strategy specialists are not always well rewarded for simply participating in conventional trades. We believe a new investment paradigm is required to generate attractive alpha opportunities. Thus, we have implemented an organizational structure and investment approach suited to identifying and capturing alpha in today’s market environment. We allocate capital dynamically. And while we pursue market inefficiencies that continue to exist in traditional areas, our efforts are also focused on areas that fall outside a traditional silo, and thus are overlooked or avoided by today’s market participants.

We believe that the best investment ideas can be exploited through true collaboration and the deployment of expert resources in the origination and structuring of trades. In this way, we believe we can materially expand the opportunity set of high-quality investment opportunities as well as identify traditional opportunities with attractive risk-reward profiles.

We have built front and back offices that seek a competitive edge in the way we source, evaluate, structure and risk manage at the transaction level. We maintain a strict focus on risk management – in both mark-to-market and liquidity risk. We concentrate on structuring deals such that they may produce positive returns across the broadest range of outcomes.

What is a Magnetar?

Locations

Contact Us

Careers

recruiting@magnetar.com

Media

Melinda McMullen
Magnetar Capital
+1-847-905-4479

Community

At Magnetar Capital, we believe it is important to give back, especially to the communities in which we live and work. Our grants are strategically focused on helping to improve the lives of economically disadvantaged youth, with emphasis on financial literacy. We give both financially and of our time.

Here are a few of the projects Magnetar supported in the past year:

Magnetar Youth Investment Academy

We are currently piloting the Magnetar Youth Investment Academy at a Chicago Charter Public High School in Englewood. In addition to learning about basic money management and financial literacy skills, the students participate in a stock market portfolio competition and can ultimately earn a college scholarship.

Network for Teaching Entrepreneurship

Magnetar underwrote the Network for Teaching Entrepreneurship (NFTE) Advanced Business Camp at University of Illinois at Chicago. This intensive five-day program focuses on helping economically disadvantaged high school students who are serious about business expand and strengthen their existing business plans. In addition to providing the financial support to underwrite the Camp, Magnetar employees served as speakers and mentors to the students.

KaBOOM!

Each year, our employees volunteer in our community on a local project. In 2011, our employees joined with nonprofit partner, KaBOOM!, to spend a day building a playground at the LEARN Hunter-Perkins elementary school on the South Side of Chicago. The school, which opened in 2011, was originally planned without a playground until Magnetar stepped forward with the majority of the funding and much of the volunteer labor to help build the playground.

Holiday Drives

Each year, our employees give back with year-end community service holiday drives across our offices

• In Evanston, employees have partnered with Connections for the Homeless to make the holidays a little brighter.
• In New York, employees work with The Family Center, which supports families in crisis.
• In London, employees have partnered with Refuge, which works to end domestic violence and build a world that is safe for women and their children.

Leadership

 

Careers

Our employees are true team players who are passionate about financial markets. They are smart, hard working, entrepreneurial, driven and intellectually curious. If you believe you have what it takes to succeed at Magnetar, please submit your resume to recruiting@magnetar.com.

Please note that Magnetar does not accept unsolicited search firm resumes. Unsolicited resumes submitted by a third-party search firm will become the property of Magnetar.

Overview

How We Invest

We believe that over the past decade, the bar has been raised for alternative asset managers. This is true in terms of sourcing of superior investment ideas, the structure of deals to capture alpha, the organization of investment professionals, in operational excellence and in client service. We believe success begins with investing: we endeavor to identify and source differentiated investment opportunities. We seek to find repeatable investment opportunities where we can engineer and scale our processes, and we seek to structure investments to be profitable across the broadest range of market conditions or outcomes.

Our Strategies

We organize our investing activities in three broad areas: Event Driven, Fixed Income and Energy. Within these areas, we invest in more than a dozen distinct sub-strategies.

How We Operate

We think of ourselves as long-term investors, not short-term traders. We seek to build businesses to capture alpha repeatedly over time. We have worked to foster a culture that is entrepreneurial, collaborative and open. Our firm is led by senior executives in both the front and back office.

Overview

Founded in 2005, Magnetar Capital is a leading alternative asset manager. We seek to deliver consistent, long-term risk-adjusted returns by investing in and across alternative asset classes.

Magnetar operates in and across three major investment strategies:

• Event Driven
• Fixed Income
• Energy

Historical Assets Under Management

Approximate Ending AUM ($ billions)¹

¹ Reflects approximate investor capital managed by Magnetar and its affiliates.