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"We are constantly evolving to meet the changing needs of investors," said Mr. Litowitz. "Erik's decades of experience and strong track record of success make him a valuable addition to the team as we continue to pursue new and innovative market opportunities across a broad range of sectors. We are fortunate to have him on board and welcome him to the firm."

At KKR, Mr. Falk oversaw the private funds within the firm's $35bn credit business and served on the Private Credit Investment Committee, the Leveraged Credit Investment Committee and the Portfolio Management Committee. Before joining the firm in 2008, Mr. Falk spent eight years at Deutsche Bank. He held several roles in the bank's Global Markets Division including founding the Special Situations Group and Co-Heading the Global Securitized Products Group.

Mr. Falk has served on the boards of the Loan Syndications and Trading Association (LSTA), Corporate Capital Trust and Corporate Capital Trust II - business development companies sub-advised by KKR - and various companies on behalf of Deutsche Bank. He is currently a member of the advisory committee of a private middle market lender and of the Investment Committee for The Public Theater.

"I am very excited to join a team with a history of excellence and continued innovation," said Mr. Falk. "I look forward to working to help continue to drive innovation, growth and client value."

Mr. Falk earned a Master of Science and Bachelor of Science in Chemical Engineering from Stanford University.

Founded in 2005, Magnetar is a $13.6bn multi-strategy alternative investment manager that seeks to achieve stable risk-adjusted returns by opportunistically employing a wide range of fixed income, energy, quantitative and fundamental investment strategies. Magnetar invests across public and private markets, geographies and company structures, leveraging deep fundamental and quantitative rigor. The firm is headquartered in Evanston, Illinois and operates satellite offices in New York, London, Minneapolis and Houston.