Thursday, 7 May 2015
Last updated 12 hours ago
Feb 5 2010 | 1:03pm ET
BlueMountain Capital Management has wound down the distressed debt hedge fund it launched to take advantage of the credit crisis.
The New York-based firm has liquidated the $100 million fund after less than a year, returning money to investors last month. Many have chosen to reinvest that money—there’s 34% more of it since the fund’s debut last March—in BlueMountain’s other credit funds.
“We’ve captured most of the big opportunity,” co-founder Stephen Siderow told Bloomberg News. “It isn’t going to happen again anytime soon and that’s why we urged our clients to move on.”
New York-based BlueMountain has some $4 billion in assets under management.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…