FT Alphaville has an article titled “A secret Magnetar Management deal?”. Here is an excerpt:
Somewhat lost amongst the JPMorgan/Magnetar news on Tuesday, was a name.
Steffelin, the SEC says, was in charge of the team at GSCP that helped select the investment portfolio for the Squared 2007-1 synthetic CDO — parts of which were infamously shorted by hedge fund Magnetar. He was also allegedly trying to get a job at the fund, at the same time that he was dealing with Squared.
Intriguing no? It kind of adds another layer to marketer JPMorgan’s $154m settlement.
If you are interested in SEC’s complaints against Steffelin, you can read it here:
Steffelin was paid a $250,000 base salary and a $1 million bonus in 2007. Edward S. Steffelin, age 41, was a Managing Director at GSC and an unregistered investment adviser during the relevant period. Steffelin was in charge of the team that purportedly selected the collateral for Squared. Steffelin worked at GSC’s offices in New York City during the relevant period. He obtained his Series 7 and 63 licenses in March 2010 and is currently a registered representative with a broker-dealer based in Scottsdale, Arizona. Steffelin resides in New York, New York.