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magnetar.com

Investments

55

Portfolio Exits

17

Funds

14

Partners & Customers

6

Service Providers

1

About Magnetar Capital

Founded in 2005, Magnetar is a multi-strategy alternative investment manager that 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 is often referred to as a hedge fund and is run by former Citadel trader Alec Litowitz. In May 2015, Blackstone’s hedge fund unit, Blackstone Alternative Asset Management, took a minority stake in Magnetar. 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. As of June 2023, Magnetar's AUM (assets under management) stood at $13.4 billion.

Headquarters Location

1603 Orrington Ave 13th floor

Evanston, Illinois, 60201,

United States

847-905-4400

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Latest Magnetar Capital News

GCM Grosvenor to Join Vesper Energy as New Strategic Partner

Sep 13, 2023

GCM Grosvenor to Join Vesper Energy as New Strategic Partner September 13, 2023 at 12:13 pm EDT Share IRVING, Texas, Sept. 13, 2023 /PRNewswire/ -- Vesper Energy, a developer, owner, and operator of utility-scale renewable energy assets, announced today that GCM Grosvenor (NASDAQ: GCMG) has committed to invest up to $100 million in Vesper Energy over the next 12 months and acquire a minority ownership stake in the company. GCM Grosvenor, a global alternative asset management solutions provider, joins the existing investor group for Vesper Energy, led by Magnetar Capital ("Magnetar"), an alternative asset manager. GCM Grosvenor's investment is part of its Infrastructure Advantage Strategy, which focuses on unlocking value in infrastructure through close partnership between labor, government, and private capital. The investment will advance Vesper Energy's growing portfolio of utility-scale solar, solar and energy storage, and standalone energy storage projects. Vesper Energy currently has a 17 GW pipeline of solar and energy storage projects in North America, including 1.5 GW of de-risked, advanced-stage assets in the high-growth energy markets of CAISO, ERCOT, PJM, and MISO. "This partnership represents an exciting development for Vesper," said Vesper Energy President and Chief Executive Officer Craig Carson. "We look forward to combining our experienced team and a growing pipeline of renewable energy projects with the strength of our partners at Magnetar and GCM Grosvenor to further accelerate the execution of our strategic business plan." "We believe the Vesper Energy management team is uniquely positioned to capitalize on a significant clean energy market opportunity given their proven track record of developing, operating, and commercializing utility-scale carbon-free generation and energy storage facilities," said GCM Grosvenor Managing Director Matt Rinklin. "Our joint future developments will leverage strong responsible contractor policies in looking to enhance the value of the portfolio and platform." "Since our initial investment in 2020, we have continued to be very excited about Vesper's growth," said Head of Energy & Infrastructure at Magnetar Eric Scheyer. "Over the last three years, we have worked closely with Vesper to successfully grow their team, advance their project pipeline and backlog, and expand the platform's capabilities. We look forward to further accelerating Vesper's growth alongside GCM Grosvenor as a new partner in the business." Thorndike Landing, LLC acted as GCM Grosvenor's financial advisor on the transaction with Allen & Overy acting as its legal advisor. Vesper Energy's and Magnetar's financial advisors were BofA Securities and Marathon Capital with Eversheds Sutherland acting as legal advisor. About Vesper Energy Vesper Energy provides innovative solutions to today's complex energy challenges. Headquartered in the greater Dallas area, Vesper Energy is comprised of professionals who have collectively delivered more than 10 GW of renewable energy projects globally. Today, our pipeline includes over 55 renewable energy and energy storage projects with a generating capacity of 17 GW; enough to power more than 2 million homes. Working with their customers, communities, and business partners, Vesper Energy develops, owns, and operates renewable energy projects across the United States with the goal to build a better energy infrastructure. About GCM Grosvenor GCM Grosvenor (NASDAQ: GCMG) is a global alternative asset management solutions provider with approximately $76 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform. GCM Grosvenor's experienced team of approximately 530 professionals serves a global client base of institutional and high-net-worth investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul and Sydney. For more information, visit: www.gcmgrosvenor.com. GCM Grosvenor's Infrastructure Advantage Strategy seeks to originate and execute infrastructure projects that leverage the inclusion of union labor as a contributing factor to enabling attractive risk-adjusted returns. The goal of the strategy is to find attractive infrastructure investment opportunities that can be unlocked through close cooperation across labor, government, and private capital. For more information, visit: https://www.gcmgrosvenor.com/infrastructure-advantage-strategy. View original content:https://www.prnewswire.com/news-releases/gcm-grosvenor-to-join-vesper-energy-as-new-strategic-partner-301926630.html

Magnetar Capital Investments

55 Investments

Magnetar Capital has made 55 investments. Their latest investment was in CoreWeave as part of their Debt - II on August 8, 2023.

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Magnetar Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/3/2023

Debt - II

CoreWeave

$2,300M

No

4

5/31/2023

Series B - II

CoreWeave

$200M

No

5

4/20/2023

Series B

CoreWeave

$221M

No

3

12/16/2022

Unattributed

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$99M

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10

12/6/2022

Series A - II

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$99M

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10

Date

8/3/2023

5/31/2023

4/20/2023

12/16/2022

12/6/2022

Round

Debt - II

Series B - II

Series B

Unattributed

Series A - II

Company

CoreWeave

CoreWeave

CoreWeave

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Amount

$2,300M

$200M

$221M

$99M

$99M

New?

No

No

No

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Co-Investors

Sources

4

5

3

10

10

Magnetar Capital Portfolio Exits

17 Portfolio Exits

Magnetar Capital has 17 portfolio exits. Their latest portfolio exit was Fountainhead Commercial Capital on December 16, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/16/2021

Acquired

$99M

2

11/1/2018

Asset Sale

$99M

1

1/8/2018

Acq - Fin

$99M

2

7/13/2015

Acq - P2P

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$99M

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10

5/16/2011

Acquired

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$99M

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10

Date

12/16/2021

11/1/2018

1/8/2018

7/13/2015

5/16/2011

Exit

Acquired

Asset Sale

Acq - Fin

Acq - P2P

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

1

2

10

10

Magnetar Capital Acquisitions

5 Acquisitions

Magnetar Capital acquired 5 companies. Their latest acquisition was Acque Minerali d'Italia on February 17, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

2/17/2022

$99M

Acq - Fin

1

12/3/2020

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$99M

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10

6/1/2017

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$99M

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10

3/14/2007

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$99M

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0

12/16/2005

Debt

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$99M

$99M

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0

Date

2/17/2022

12/3/2020

6/1/2017

3/14/2007

12/16/2005

Investment Stage

Debt

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$99M

Note

Acq - Fin

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Sources

1

10

10

0

0

Magnetar Capital Fund History

14 Fund Histories

Magnetar Capital has 14 funds, including Magnetar Healthcare Fund Ltd.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/13/2022

Magnetar Healthcare Fund Ltd

$362.5M

2

3/12/2021

Magnetar Capital Fund II Ltd

$2,827.94M

1

2/11/2021

Magnetar Equity Opportunities Fund Ltd

$70.73M

1

8/14/2020

Magnetar Discovery Fund

$99M

10

7/27/2020

Magnetar Lake Credit Fund

$99M

10

Closing Date

12/13/2022

3/12/2021

2/11/2021

8/14/2020

7/27/2020

Fund

Magnetar Healthcare Fund Ltd

Magnetar Capital Fund II Ltd

Magnetar Equity Opportunities Fund Ltd

Magnetar Discovery Fund

Magnetar Lake Credit Fund

Fund Type

Status

Amount

$362.5M

$2,827.94M

$70.73M

$99M

$99M

Sources

2

1

1

10

10

Magnetar Capital Partners & Customers

6 Partners and customers

Magnetar Capital has 6 strategic partners and customers. Magnetar Capital recently partnered with Funding Circle on June 6, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

6/20/2022

Partner

United Kingdom

Funding Circle Holdings plc (LSE: FCH) Funding Circle and Magnetar Capital UK announce new lending partnership

The partnership with Magnetar UK -- who was advised by AgFe , a European private credit specialist -- follows on from last month 's commitment by Waterfall Asset Management to lend a further £ 1bn through the Funding Circle platform .

2

5/9/2019

Vendor

United States

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10

9/4/2018

Partner

Japan, and United Kingdom

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10

7/21/2016

Partner

United States

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10

2/2/2015

Vendor

United Kingdom

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10

Date

6/20/2022

5/9/2019

9/4/2018

7/21/2016

2/2/2015

Type

Partner

Vendor

Partner

Partner

Vendor

Business Partner

Country

United Kingdom

United States

Japan, and United Kingdom

United States

United Kingdom

News Snippet

Funding Circle Holdings plc (LSE: FCH) Funding Circle and Magnetar Capital UK announce new lending partnership

The partnership with Magnetar UK -- who was advised by AgFe , a European private credit specialist -- follows on from last month 's commitment by Waterfall Asset Management to lend a further £ 1bn through the Funding Circle platform .

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Sources

2

10

10

10

10

Magnetar Capital Service Providers

1 Service Provider

Magnetar Capital has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Corporate Minority

Investment Bank

Financial Advisor

Service Provider

Associated Rounds

Corporate Minority

Provider Type

Investment Bank

Service Type

Financial Advisor

Partnership data by VentureSource

Magnetar Capital Team

7 Team Members

Magnetar Capital has 7 team members, including current Founder, Chief Executive Officer, Alec Litowitz.

Name

Work History

Title

Status

Alec Litowitz

Founder, Chief Executive Officer

Current

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Name

Alec Litowitz

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Work History

Title

Founder, Chief Executive Officer

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Status

Current

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