While originally designed for unidirectional generative modeling, decoder-only large language models (LLMs)
are increasingly being adapted for bidirectional modeling. However, unidirectional and bidirectional models
are typically trained separately with distinct objectives (generation and representation learning). This
separation overlooks the opportunity for developing a more versatile language model and for these objectives
to complement each other. In this work, we propose MAGNET, a method for adapting decoder-only LLMs to generate
robust representations and infill missing text spans. MAGNET employs three self-supervised training objectives
and introduces an attention mechanism that combines bidirectional and causal attention, enabling unified training
across all objectives. Our results demonstrate that LLMs adapted with MAGNET (1) surpass strong text encoders
on token-level and sentence-level representation learning tasks, (2) generate contextually appropriate text
infills by leveraging past and future contexts, (3) perform open-ended text generation without excessive
repetition of words or phrases, and (4) preserve the knowledge and reasoning capability gained by the LLM
during pretraining.