Monday, 27 April 2015
Last updated 7 min ago
May 26 2010 | 10:48am ET
Magnetar Capital will launch an event-driven hedge fund this year, seeking to tap into demand for one of the most sought-after strategies this year.
The $7 billion Evanston, Ill.-based firm will launch the new fund in the next few months, the Financial Times reports. Firm founder Alex Litowitz will manage the vehicle, which will focus on mergers and acquisitions and other corporate events.
Magnetar made its name making billions betting against the subprime mortgage market. Its new launch comes in the wake of tough criticism of the hedge fund’s activity in the collateralized debt obligations market: With the exception of its fellow subprime billionaires at Paulson & Co., Magnetar has been the most vilified hedge fund in the space, the subject of a pair of lengthy articles profiling its subprime strategy.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…