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