Elda River Capital Management recently announced its launch as an independent real assets-focused investment firm. Elda River launched with approximately $1.5 billion in assets under management in a spin-out from Magnetar and has offices in Houston, Texas; Evanston, Illinois; and London, United Kingdom.
Elda River is led by co-managing Partners Eric Scheyer and Adam Daley, former partners at Magnetar and co-heads of Magnetar’s Energy & Infrastructure business. And Scheyer and Daley joined Magnetar in 2005 and led an experienced team that has committed nearly $7 billion to more than 70 private investments focused on energy and energy transition infrastructure.
All team members and operating partners of Magnetar’s Energy & Infrastructure business will join Elda River, including Elda River co-founders and partners Craig Rohr and Michael Dean, and longtime senior executives Michael Wilds, Steve Settles, and Courtney Kozel.
Elda River seeks to deploy a flexible investment approach targeting attractive risk-adjusted returns across multiple industry verticals such as renewables and power, energy and energy infrastructure, energy storage, industrial decarbonization, and digital infrastructure.
Kirkland & Ellis acted as legal advisor for Elda River.
KEY QUOTES:
“After nearly two decades at Magnetar, our team is excited to launch Elda River and we are grateful for the strong support of our investors. Given our team’s experience and the unprecedented amount of capital required across the global energy and energy transition sectors, we believe that now is the ideal time to launch a pure-play investment platform.”
– Eric Scheyer, Co-Founder and Managing Partner of Elda River
“We are committed to building on our long-term track record of partnering with exceptional management teams to successfully navigate market cycles, protect capital and drive attractive outcomes for our investors. We are thankful for Magnetar’s support and partnership over many years.”
– Adam Daley, Co-Founder and Managing Partner of Elda River
“We worked closely with our Energy & Infrastructure team to evaluate and successfully execute this transaction and believe that a fully independent alternative asset manager will enable opportunities to create additional value for all stakeholders.”
– Dave Snyderman, Magnetar’s Managing Partner
“The team led by Eric and Adam has built a well-respected franchise by directly sourcing distinct private investment opportunities and delivering strong results for investors. Moving forward, I believe Elda River, as a standalone firm, is well-positioned to capitalize on a highly compelling opportunity set.”
– Alec Litowitz, Founder of Magnetar and Senior Advisor to Elda River
