Tuesday, 26 July 2016
Last updated 3 hours ago
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.