Hedge Funds

Magnetar, looking to rebuild assets, seeks marketing executive

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The firm, in a bid to get back to its peak assets after losses in 2008 and an alleged regulatory probe, is on the lookout for a senior marketing professional. Magnetar now manages $7.1 billion.

Magnetar Capital, one of the hedge funds that traded the mortgage-backed securities that are now at the center of a regulatory probe, is hunting for a senior marketing executive as the firm looks to raise assets.

“The firm is always on the lookout for outstanding talent,” said a spokesman for the Evanston, Ill. firm, who declined to comment further. The marketing role is believed to be a new position.

Magnetar, founded by former Citadel Investment Group trader Alec Litowitz and ex-Glenwood Capital Partners president Ross Laser, has had a difficult few years.

Magnetar is one of the firms being