Magnetar Names P.E. Vet As Senior Partner

Jul 28 2006 | 4:17pm ET

Hedge Fund firm Magnetar Capital has hired Michael Gross as a senior partner and co-chairman of the firm's investment committee. Gross, founder and former partner of private equity firm Apollo Management, will also serve as chief investment officer for the $3 billion firm's credit and private investment businesses.  He will be based in New York. In addition to hiring Gross, earlier this week Magnetar added former Cooper Neff Group CEO Andrew Sterge to head up its reinsurance business, continuing hedge funds' march into that industry.

The $3 billion Evanston, Illinois-based Magnetar founded a reinsurer in Bermuda, Pulsar Re, earlier this year. Sterge, who will work out of Magnetar's Philadelphia-area office, is also the founder of AJ Sterge Investment Strategies, and he'll be joined at Magnetar by a team from that firm. 


In Depth

FINalternatives Survey: We Asked Investment Pros...

Apr 2 2016 | 9:42pm ET

The data from our annual reader survey continues to roll in and provide interesting...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...