MiB: David Snyderman, Magnetar Capital – The Big Picture

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This week, we speak with David Snyderman, global head of Magnetar Capital LLC’s alternative credit and fixed-income business. He also serves as chairman of Magnetar’s investment committee and as a member of its management committee.

Snyderman, who joined Magnetar in 2005 shortly after its launch, was previously the head of global credit and a senior managing director at Citadel Investment Group, and he served as a member of the management, portfolio management and investment/risk committees. Prior to joining Citadel, he focused on convertible securities, merger arbitrage and special situations portfolios at Koch Industries Inc.

We discuss how the firm was built to identify overlooked opportunities. Finding “idioosyncratic” bets leads to an asymmetric risk profile that reduces downside while maintaining upside. Snyderman explains how Magnetar’s approach was to both measure and manage risk, and operated mostly hedged, avoiding macro bets.

A list of his favorite books is here; A transcript of our conversation is available here Tuesday.

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, YouTube, and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here.

Be sure to check out our Masters in Business next week with Sean Dobson, Amherst Group CEO & CIO. The firm focuses on mortgage and securitized products, as well as a real estate investment, management and operating platform. They manage $16.8 billion in mortgage-backed securities (MBS), Commercial Real Estate CRE), and single-family rentals.