BlueMountain Nears $20 Billion

Aug 8 2014 | 4:34am ET

 Investor clamor for its products has put BlueMountain Capital Management on the precipice of joining a very exclusive club.

The New York-based credit specialist’s assets have soared to $19.6 billion, nearly four times its size five years ago. Its flagship hedge fund, which managed $2.3 billion in June 2009, now has a whopping $8 billion in assets under management, Bloomberg News reports.

BlueMountain’s returns have been good, if not exceptional, over the period, with annualized gains of 11.6%. This year, the fund is up 3.5%, ahead of its peers but well behind the broader markets.

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