BlueMountain Shutters Credit Crisis Fund

Feb 5 2010 | 2:03pm 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.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of