BlueMountain Capital

BlueMountain Capital Management is a privately owned diversified alternative asset manager founded in 2003 and operating in the United States' and global investment industry.

BlueMountain Capital
Private
IndustryFinancial Services
Founded2003 (2003)[1]
FounderAndrew Feldstein (CEO & CIO)[1][2]
Stephen Siderow (Co-President)[3][2]
Headquarters280 Park Avenue, 12th Floor,
New York City, New York
,
U.S.
ProductsInvestment Management
AUMUS$ 16.0 billion
(as of June 30, 2019)[4]
Websitebluemountaincapital.com

Company

BlueMountain is a private company formed in 2003 with offices in New York and London. As of 2016, the company managed US$22 billion.[5] BlueMountain manages multiple alternative asset classes, including CLOs, fixed income, healthcare private equity, and other alternative investments.[6]

The company made a reputation in part by making trades with JPMorgan Chase in the wake of the 'London whale' trading loss in the bank's London branch.[5][7]

Personnel

BlueMountain's chief executive officer[5] and co-chief investment officer is Andrew Feldstein, who had a 10-year career at JP Morgan before co-founding the hedge fund.[5][7] Harvard Professor and former Federal Reserve Board member Jeremy C. Stein was hired in 2015 as a consultant to BlueMountain.[5]

Investment

The firm has invested in Puerto Rican debt and reportedly been active, including through DCI Group, in opposing efforts to give the commonwealth access to bankruptcy.[8] After a debt relief program was passed by Congress in June, 2016, a film company with reported ties to George Soros released two titles targeting Blue Mountain, and specifically its holdings in Puerto Rico’s power authority (PREPA) debt, among others for the impact of the financial crisis on health and education on the island.[9]

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References
  1. Effinger, Anthony (19 January 2013). "From BlueMountain's Feldstein, a win-win with JPMorgan". The Washington Post (Business). United States. The Washington Post. Retrieved 23 April 2019.
  2. Lovell, Hamlin (1 November 2018). "BlueMountain Capital Management" (136). United Kingdom: The Hedge Fund Journal. The Hedge Fund Journal. Retrieved 25 April 2019.
  3. Ahmed, Nabila (22 April 2019). "BlueMountain's Europe CEO Louisa Church Is Joining Och-Ziff". United States: Bloomberg.com. Bloomberg L.P. Retrieved 23 April 2019.
  4. "Assured Guaranty Completes Acquisition of BlueMountain Capital Management" (Assured Guarantee Press Release). United States: BusinessWire. BusinessWire. 1 October 2019. Retrieved 1 October 2019.
  5. Stevenson, Alexandra, "Former Fed Board Member to Advise Hedge Fund", New York Times, March 23, 2015. Retrieved 2015-03-24.
  6. "Company Overview of BlueMountain Capital Management LLC". Bloomberg. Retrieved 27 April 2016.
  7. de la merced, Michael J. (January 8, 2013). "JPMorgan's Staley to Join BlueMountain Capital". New York Times DealBook. Retrieved 2015-03-24.
  8. Mahler, Jonathan; Confessore, Nicholas (19 December 2015). "Inside the Billion-Dollar Battle for Puerto Rico's Future". New York Times (DealBook). United States. The New York Times Company. p. A1. Retrieved 11 November 2016.
  9. Rainey, Ryan, "Group With Soros Ties Targets Hedge Funds in Puerto Rico Crisis", Morning Consult, June 10, 2016. The films are at filmsforaction.org. Retrieved 2016-11-16.
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