Industry Updates

BlueMountain Credit Opportunities Fund I closes with $1.4bn in commitments

Wednesday, October 10, 2012

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Opalesque Industry Update: BlueMountain Capital Management a private investment firm with over $10 billion in assets under management today announced the closing of the BlueMountain Credit Opportunities Master Fund I LP the firm’s most recent and largest longer-dated credit fund, with over $1.4 billion in capital commitments.

Credit Opportunities I will invest opportunistically to capture the large premium available in more complex and less liquid credit instruments. The fund will focus on corporate structured credit such as CLOs and synthetic collateralized debt obligations, asset-backed financing transactions and securities and off-the-run single company corporate credit. The new fund lets investors take advantage of opportunities arising in less liquid credit instruments that are being driven by regulatory changes, complexity fatigue and the retreat of bank capital from secured, asset backed and structured lending markets.

“We are pleased with the reception this fund has had among institutional investors and family offices,” said Stephen Siderow, President and Co-Founder of BlueMountain. “A combination of political and market forces, including the secular retreat of capital from traditional lenders, has created opportunities for very attractive risk-adjusted returns for investors who have the ability and confidence to commit capital with us for 5 years. Our proven expertise, track record, scale of operations and industry-leading infrastructure allow us to capitalize on these opportunities.”

Credit Opportunities I will benefit from BlueMountain’s collaborative investment process that integrates fundamental company research, technical analysis of credit instruments and markets and sophisticated mathematical modeling of fixed income cash flows. The fund will leverage BlueMountain’s 140-person team, including 20 research analysts and 23 portfolio managers, across its New York and London offices. The closing of the new fund will bring BlueMountain’s assets under management to over $11 billion.

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