Hedge Funds

Litowitz prepares to raise up to $2 billion


Former Citadel Investment equities chief Alec Litowitz is seeking to raise between $1.5 billion and $2 billion of capital over the next several months for his Evanston, Ill.-based Magnetar Capital.

It was unclear at press time how much of that amount would be in place by the firm's September launch, but Litowitz's stellar reputation during his time at Citadel is fueling heavy investor interest.

After keeping near radio silence for the last two years, while his non-compete agreement ran out with Citadel, Litowitz, who will serve as Magnetar's chief executive, and Ross Laser, the former president of Glenwood