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LDA+Slave-Boson approach to the correlated electronic structure of the metamagnetic bilayer ruthenate Sr$_3$Ru$_2$O$_7$

The combination of the local-density approximation (LDA) with the rotationally invariant slave-boson theory (RISB) is used to investigate the realistic correlated electronic structure of Sr$_3$Ru$_2$O$_7$. From Wannier-downfolding the low-energy band structure to a three-band model for the Ru($t_{2g}$) states, the interacting problem is solved including intra- and inter-orbital Hubbard terms as well as spin-flip and pair-hopping interactions. Therewith it is possible to obtain valuable insight into the orbital occupations, relevant local spin multiplets and the fermiology with increasing correlation strength. Besides generic correlation-induced band-narrowing and -shifting, an intriguing quasiparticle structure close to the Fermi level is found in the neigborhood of the notorious $γ_2$ pocket in the Brillouin zone. Along the $Γ$$-$$X$ direction in {\bf k}-space, that structure appears very sensitive to electronic self-energy effects. The subtle sensitivity, connected also its manifest multi-orbital character, may put this very low-energy structure in context with the puzzling metamagnetic properties of the compound.