Magnetar Alpha Star Fund LLC
Magnetar Alpha Star Fund LLC is a hedge fund based in Evanston, Illinois. According to its most recent Form D, filed Dec 15, 2025, the fund has sold $707,000,000 of interests to 2 investors since its first sale in May 2022. The minimum investment it accepts from an outside investor is $450,000,000. It relies on the Section 3(c)(7) exclusion, so investors generally must be qualified purchasers. The offering uses Rule 506(b), which does not permit general solicitation. Related persons named in the filing include Hayley Stein; David Snyderman; Magnetar Alpha Star MM LLC.
Performance
No verified returns have been reported for this fund. As a rough guide, Magnetar Financial LLC, which manages it, disclosed U.S. stock holdings that returned an estimated +20.4% 2026 YTD through Jun 30 (S&P 500: +9.5%), based only on its public 13F filings. Over a longer period, Q3 2024 to Q2 2026, the estimate is +86.6% (S&P 500: +37.2%).
This estimate covers the firm's whole disclosed long U.S. stock portfolio. It is not this fund's return and excludes dividends, fees, shorts, derivatives, bonds, cash and trading within each quarter.
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- Total raised
- $707,000,000Cumulative sales reported on Form D
- Investors
- 2
- First sale
- May 26, 2022
- Minimum investment
- $450,000,000
- Who can invest
- Qualified purchasersSection 3(c)(7): generally $5M+ in investments
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Hayley Stein; David Snyderman; Magnetar Alpha Star MM LLC
- Latest Form D
- Dec 15, 2025
From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and AltMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction
Questions about Magnetar Alpha Star Fund LLC
What is the minimum investment for Magnetar Alpha Star Fund LLC?
According to its latest Form D, filed Dec 15, 2025, the minimum investment Magnetar Alpha Star Fund LLC accepts from an outside investor is $450,000,000.
Who can invest in Magnetar Alpha Star Fund LLC?
Magnetar Alpha Star Fund LLC is generally open only to qualified purchasers (generally individuals with at least $5 million in investments), because it relies on Section 3(c)(7). It uses Rule 506(b), which does not allow general advertising.
How much has Magnetar Alpha Star Fund LLC raised?
Magnetar Alpha Star Fund LLC reports $707,000,000 sold from 2 investors on its Form D filed Dec 15, 2025. This is cumulative sales since the offering began, not current assets or performance.
Where is Magnetar Alpha Star Fund LLC based?
Magnetar Alpha Star Fund LLC is based in Evanston, Illinois and is managed by Magnetar Financial LLC.
When did Magnetar Alpha Star Fund LLC launch?
Magnetar Alpha Star Fund LLC reports its first sale in May 2022.
Size compared with every hedge fund
Raised more than 92% of the 323 hedge funds based in Illinois, and more than 86% of all 10,308 that report sales.