Wed, Jun 1, 2016
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   |   
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. Investing - Scientist turned hedge fund founder cuts profitable Aussie short, Pelargos joins hedge funds’ bet on turnaround at Honda, Managers set to cash in on infrastructure debt upswing[more]

    Scientist turned hedge fund founder cuts profitable Aussie short From Bloomberg.com: AE Capital, a hedge fund run by a former atmospheric scientist, trimmed bets against the Australian dollar as it gauges shifts in the world’s two biggest economies. The Australian, Canadian and New Zeala

  2. He's lost £200m in a year - so has Britain's star hedge fund boss Crispin Odey lost his golden touch?[more]

    From Thisismoney.co.uk: ...Odey’s laid-back attitude gave no indication of the turmoil his flagship fund had put investors through. It had tumbled 20 per cent in May – a terrible performance given most of his rivals were in positive territory for the year. Odey’s fund had got into trouble after taki

  3. Comment - If you’re such a great investor, where’s your alpha?[more]

    From Mineweb.com: … They are few and far between. You likely know their names. There is a short list of those who have 1) outperformed; 2) over long periods of time, and; 3) manage substantial sums of money. It’s impressive if you are on that list, but discouraging if you seek to invest institutiona

  4. European fund managers 'dressing up’ track record to gloss on performance[more]

    Komfie Manalo, Opalesque Asia: A new study by global analytics firm Cerulli Associates has found that the problem of 'dressing up' track records by fund managers is getting worse. In its latest issue of The Cerulli Edge - Europe Edition,

  5. Why the equity short bias hedge fund underperformed in April[more]

    From Marketrealist.com: The Barclay Equity Short Bias Hedge Fund returned -0.83% in April 2016. However, on a year-to-date basis, the fund provided a return of 3.4% through April 30, 2016. The equity short bias strategy works best when the Market is in a downturn. From January 2016 to mid-Febr