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Magnetar Capital history
Magnetar Capital company history timeline
In 2005, Magnetar began investing in the North American energy sector.
Magnetar Capital was founded in 2005 by Alec Litowitz (formerly of Citadel LLC) and Ross Laser (formerly of Glenwood Capital Partners). Based in Evanston, Illinois, the firm started with $1.8 billion in capital, making it one of the largest hedge fund launches at the time.
Early on, Magnetar Capital's multi-strategy fund invested in event-driven investments and the firm doubled in size to nearly $4 billion by the end of 2006.
As a result, it lost money on the riskiest slices it bought, but made much more from the hedges when the market collapsed in 2007.
Janet Tavakoli, a financial industry consultant, wrote in her 2008 book, "Structured Finance and Collateralized Debt Obligations", that Magnetar Capital's Constellation CDOs "seemed designed to fail".
In 2010, Magnetar Capital’s directors, among others, won the Ig Nobel Prize in Economics for "creating and promoting new ways to invest money—ways that maximize financial gain and minimize financial risk for the world economy, or for a portion thereof".
JP Morgan settled the lawsuit for $153.6 million in 2011.
In January 2013, the firm became the largest homeowner in Huber Heights, Ohio, by buying a portfolio of almost 2,000 rental homes from the family of the town's original developer.
The firm entered the film financing business in 2013, when it provided most of the funding for a $400 million co-financing deal that provided 20th Century Fox with money to fund a slate of films over a five-year period.
In 2014, Magnetar Capital introduced two new energy funds, Magnetar Solar Holdings and Magnetar Solar Opportunities Fund.
In 2016, Magnetar Capital owned about 344 megawatts of the UK's solar production.
The firm sold its UK solar portfolio to Rockfire Capital in 2018.
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Magnetar Capital competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| The Vanguard Group | 1975 | $6.9B | 17,600 | 171 |
| VanEck | 1955 | $12.0M | 50 | - |
| Integrated Financial Partners | 1996 | $6.7M | 750 | 6 |
| Summit Mortgage | 1992 | $27.8M | 100 | 4 |
| Federal National Mortgage Association | 1938 | $99.7B | 7,500 | 194 |
| Iss | Institutional Shareholder Services | - | $6.5M | 309 | 14 |
| Allston Trading | 2003 | $6.7M | 137 | - |
| AmeriHome Mortgage Company, LLC | 2013 | $8.3M | 100 | 88 |
| AQR Capital Management | 1998 | $52.0M | 1,000 | 27 |
| CTC | 1995 | $15.0M | 500 | 52 |
Magnetar Capital history FAQs
Zippia gives an in-depth look into the details of Magnetar Capital, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Magnetar Capital. The employee data is based on information from people who have self-reported their past or current employments at Magnetar Capital. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Magnetar Capital. The data presented on this page does not represent the view of Magnetar Capital and its employees or that of Zippia.
Magnetar Capital may also be known as or be related to Magnetar Capital, Magnetar Capital LLC and Magnetar Capital Partners LP.