New York

Magnetar Capital broadens event-driven investment platform

Wed, 14/11/2012 - 12:01

Andrew Beckman has joined Magnetar Capital to lead a new event credit team, working within Magnetar’s global event driven strategies business.

Beckman, who will be based in New York, will report directly to Alec Litowitz, Magnetar chief executive, founder and head of global event driven strategies.  

“The addition of this new credit team to Magnetar’s event driven business rounds out our ability to deploy capital across all stages of the corporate lifecycle,” says Litowitz. “Andrew Beckman’s proven track record in this space and his ability to collaborate with teams across platforms make him an ideal leader for our event credit business.”

Beckman joins Magnetar from Goldman Sachs, where he served in the special situations group as co-head of multi-strategy investing. In that capacity, he was responsible for managing a business and portfolio that invested in loans and securities in stressed and distressed corporate structures, as well as other special situations. Before joining Goldman in 2004, Beckman worked for nearly six years at Investcorp International, a private equity firm. He began his financial career as an investment banker at Salomon Smith Barney.

Nicholas Heilbut and Scott Giardina also have joined Magnetar as part of the new team. Heilbut previously served as a senior analyst at Serengeti Asset Management and as a vice president in Goldman Sachs’ special situations group, multi-strategy investing, where he worked closely with Beckman.

Giardina was previously head of US and European trading and a member of the global investment committee at Mount Kellett Capital Management. Prior to Mount Kellett, Giardina was a trader with Silver Point Capital.


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