This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

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

Media contacts: Justin Dini/April Kabahar-Emspak, Brunswick Group, 212-333-3810

SOURCE Magnetar Capital

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,710.86 +32.63 0.18%
S&P 500 2,060.24 +4.09 0.20%
NASDAQ 4,887.5710 +24.2090 0.50%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs