EVANSTON, IL – June 7, 2022 – Magnetar Capital (“Magnetar”), a leading alternative asset manager, announced today that its founder and CEO, Alec Litowitz, has selected David Snyderman to be the firm’s Managing Partner. Litowitz will transition to Senior Advisor while remaining an owner in the firm, co-founder Ross Laser will continue to guide the firm in his role as Magnetar’s President and Snyderman will continue in his role as CIO of Magnetar’s Alternative Credit and Fixed Income (ACFI) business. As part of this transition, Magnetar also intends to elevate its next generation of leadership by equitizing key team members across the organization.

“When Ross and I founded Magnetar in 2005, our vision was to construct an enduring firm that would generate stable returns across markets and time, and attract a team of world-class investors through a culture of innovation and collaboration. It has been a privilege to work with Ross and Dave to build Magnetar. They have been great partners and our friendship will remain an important part of my life. Today’s announcement is a key step to fulfilling our original vision and positioning the firm for the next decade,” said Litowitz.

Litowitz continued, “I have worked closely with Dave for over 20 years. He is an extraordinary investor and leader, and has been a critical part of the firm’s success. Dave’s investment acumen, his track record in developing teams and businesses, and his ability to create solutions for our clients, uniquely qualify him to lead Magnetar going forward.”

Commenting on his appointment, Snyderman said, “It has been a pleasure and privilege to work in close partnership with Alec. He had the vision and foresight to build Magnetar into a collaborative, integrated firm that could capitalize on whitespaces and the convergence of asset management approaches and strategies.”

Snyderman continued, “It is from this vision that Magnetar has thrived for almost two decades. The firm has grown to be the steward of ~$13.8B of AUM through May 1, 2022(1) and returned a net profit to investors, inception through Q1 2022, of ~$9.7B(2). Our culture has attracted and retained top talent – with one-third of our staff tenured 10+ years. Through the Magnetar Capital Foundation, we donated more than $16M and 22K employee hours to connect high school students to best-in-class financial education programming, positively impacting the lives and opportunities of many. Ross and I look forward to building on this legacy.”

“17 years ago, I made the decision to partner with Alec to build something special in the asset management industry. I recognized then that Alec would be a great partner. He’s a brilliant investor with the ability to see around corners and innovate as opportunity sets evolve,” said Laser. “I look forward to working closely with Dave and all our employees to chart Magnetar’s winning course for the next decade and beyond.”

Commenting on his decision to elevate to Senior Advisor, Litowitz shared, “I believe the firm is well positioned for this transition given the depth of our investment and leadership teams, and the strength of recent performance across our businesses. After 28 years being day-to-day in the hedge fund business, I’m excited about having more time to embrace my curiosity for visionary ideas and to leverage my previous investment experience to solve some of society’s biggest challenges. I believe we’re at a unique moment in time where many rapid advances in data and technology, coupled with major shifts in human behavior, will drastically alter the future of how we live, work and play.”

“I hold Magnetar dear to my heart and will remain significantly invested in the firm’s success both as an owner and investor in its funds, while offering counsel in the areas where I can have the highest impact,” said Litowitz.

About Magnetar:

Founded in 2005, Magnetar is a multi-strategy alternative investment manager with approximately $13.8 billion of assets under management as of May 1, 2022. Magnetar seeks to achieve stable risk-adjusted returns by opportunistically employing a wide-range of alternative credit and fixed income, energy and infrastructure, and systematic investing strategies. Magnetar invests across regions and business structures, in both public and private markets, taking advantage of the deep rigor of fundamental and quantitative analysis. The firm is based in Evanston, Illinois, with additional offices in London and Houston. For more information, visit www.magnetar.com.

About the Magnetar Capital Foundation:

Established by Magnetar’s founders in 2011, the Magnetar Capital Foundation’s key mission is to democratize access to high-quality financial education across the U.S. The Foundation’s financial education programming originated as Magnetar Academy, a self-built curriculum serving Chicago-area schools. In 2016, the Foundation joined forces with UChicago STEM Education to create the Magnetar Capital UChicago Financial Education Initiative, releasing its best-in class financial education curriculum, finEDge, three years later. To date, efforts have collectively educated more than 27,500 high school students through over 1,200 classes.

As of October 2022, Alec Litowitz has completed the transition of his day-to-day responsibilities and will continue to hold an interest in Magnetar.

1 Assets Under Management (AUM) reflects approximate investor capital managed by Magnetar and its affiliated investment managers, on a discretionary and non-discretionary basis, including designated investments in side pockets and unfunded commitments (money committed to any fund managed by Magnetar and its affiliated investment managers as of the report date, but not yet transferred by the investors).

2 Represents the net amount of realized and unrealized profits and losses of collective investment vehicles and separately managed accounts, as well as capital committed to co-investments and any capital that has been side-pocketed (collectively, “Magnetar Accounts”) in the aggregate, and is net of management and incentive compensation, as well as all deal and trade related investment expenses and any fund-level operating expenses. Particular investors in Magnetar Accounts may have experienced net losses or gains, based on various factors, including the time period and/or vehicle in which they invested. Date of inception for Magnetar is September 8, 2005.