Thu, Apr 24, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

BlueMountain Capital Management launches 3 new credit funds after $250m asset raise

Tuesday, April 06, 2010
Opalesque Industry Updates - BlueMountain Capital Management announced that the firm has raised more than a quarter of a billion dollars ($250 million) for three new funds designed to pursue credit market opportunities in the post-financial crisis world. The new funds are the BlueMountain Long/Short Credit Fund, the BlueMountain Distressed Fund and a single-client fund focused on securitized investments. The Long/Short Credit Fund began trading on February 1, 2010, and the other funds launched on April 1, 2010. BlueMountain also plans to create a multi-client asset backed securities fund by the end of the third quarter of this year.

The new funds will provide clients with access to trading strategies already tried and tested in the alternative asset manager’s $2.6 billion flagship fund, BlueMountain Credit Alternatives, but in dedicated products with bespoke liquidity terms. The new funds were designed to meet client needs across different strategies and different areas of the credit spectrum, using terms appropriate to the underlying assets and investment strategies.

BlueMountain believes that its deep and proven fundamental expertise, combined with its specialized knowledge of credit derivatives and structured credit markets, has positioned the new funds for strong performance in the next stage of the credit cycle. “The opportunities created by the fallout from the financial crisis are compelling, but asset managers need strong fundamental, quantitative and technical skills to exploit them effectively,” said Stephen Siderow, president and co-founder of BlueMountain. “This credit cycle is the first to take place in a world with large and developed markets for credit derivatives and corporate structured credit. Additionally, the scale and complexity of the asset-backed securities market is unprecedented.”

Corporate site: Source

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Banner
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. …And Finally – Flight attendant has passengers rolling in aisle[more]

    From Orange.co.uk: A video of a US flight attendant turning her safety talk into a comedy routine is proving a huge hit online. More than five million people have watched the clip of Marty Cobb which has her passengers rolling with laughter on a Southwest Airlines flight to Salt Lake City.

  2. Niche Investing – Wealthy investors flock to fine art funds[more]

    From Clickorlando.com: Wealthy investors looking to diversify beyond stocks and bonds are now turning to an unusual money-making vehicle -- the art investment fund. The name says it all: These funds invest in fine art and seek returns by acquiring and selling high-end pieces for profit. Growth

  3. Opalesque Exclusive: Rainwater and Blue Sky - an Australian water fund emerges[more]

    Bailey McCann, Opalesque New York: Financial reporters often tout new funds and investments as uncorrelated investments, but few can say they are uncorrelated to everything but weather. Enter Blue Sky Alternative's water fund which invests in the permanent rights to Australia's water. Sev

  4. University of Michigan allocates $242m to six managers[more]

    From PIonline.com: University of Michigan, Ann Arbor, invested or committed a total of $242 million to one traditional equity manager and five alternative investment funds from its $9 billion endowment. University regents approved the hire of Mittleman Investment Management to run $35 million in act

  5. Performance – Odey flagship hedge fund suffers brutal March as shorts rise, Blackstone first-quarter profit rises 30% on higher fees[more]

    Odey flagship hedge fund suffers brutal March as shorts rise From Valuewalk.com: The tide has turned for the worse for one of Europe’s best performing hedge funds. Crispin Odey’s flagship hedge fund, Odey European has suffered a 4.63% decline for the year after slipping 7.2% in March, ac