May 20, 2015
Weil advised the founders of Magnetar Capital Partners in the sale of a minority equity interest in Magnetar Capital Partners to Blackstone Strategic Capital Holdings Fund, an investment fund managed by Blackstone Alternative Asset Management. Financial terms of the transaction were not disclosed.
Magnetar, co-founded in 2005 by Alec Litowitz and Ross Laser, is an alternative asset manager with $13.6 billion of assets under management that focuses on investing in three major investment strategies: Global Event Driven, Fixed Income, and Energy. Weil has advised Magnetar’s energy funds in connection with three multi-billion dollar deals, including (a) in connection with its $1.26 billion sale of preferred shares of CHK Utica, and (b) advising Magnetar in its capacity as a holder of preferred equity in connection with each of (i) the approximately $18 billion merger of Energy Transfer Partners and Regency Energy Partners and (ii) the approximately $7.5 billion merger of Crestwood Equity Partners and Crestwood Midstream Partners.
The Weil team advising the founders of Magnetar was led by Executive Partner Barry Wolf and Private Equity partner Harvey Eisenberg. The team also included Tax partner Stanley Ramsay; Private Equity associates Peter Milligan and Ariel Simon; and Tax associate Jonathan Macke.