Magnetar Capital Announces Sale Of International Resource Partners LP
EVANSTON, Ill., March 6, 2011 /PRNewswire/ -- Magnetar Capital ("Magnetar") announced today that Lightfoot Capital Partners, LP ("Lightfoot") has entered into a definitive agreement to sell its interests in International Resource Partners LP ("IRP"), a metallurgical and steam coal company, to James River Coal Company (Nasdaq: JRCC) in a cash transaction valued at $475 million. The transaction is expected to close in the first half of 2011, subject to various closing conditions.
Magnetar, together with partners, formed Lightfoot in 2007 to pursue investments in energy- related businesses and assets. Lightfoot led an investor group in 2007 to acquire Central Appalachian coal assets through IRP and build it into a leading eastern United States coal company with an international presence. Lightfoot is the general partner and largest limited partner of IRP. Since acquiring IRP, Lightfoot's management team has been instrumental in driving significant value to the company.
The agreement represents an attractive realization for Magnetar and supersedes prior plans to complete an initial public offering of IRP. Magnetar plans to continue expanding the scope and scale of its energy and natural resource platform, and will continue to support Lightfoot's future growth plans.
About Magnetar Capital
Magnetar is an alternative investment management firm founded in 2005 with headquarters in Evanston, Illinois and affiliated offices worldwide. Magnetar's affiliated investment advisor has assets under management in excess of $7.5 billion. Magnetar affiliates are the largest investors in Lightfoot and are members of Lightfoot's General Partner. About Lightfoot Capital Partners, LP Lightfoot Capital Partners, LP is the general partner and largest limited partner of International Resource Partners. Lightfoot Capital forms partnerships with and provides capital and strategic advice for growth to leading private business owners. For more information, please visit www.lightfootcapital.com. Media contacts: Justin Dini/April Kabahar-Emspak, Brunswick Group, 212-333-3810 SOURCE Magnetar Capital
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
