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In the newly-created position, Mr. Patel will identify and manage BlueMountain's equity investments in energy, from exploration and production to storage, distribution and management of traditional and alternative energy.

Before joining BlueMountain, Mr. Patel was a portfolio manager for six years with Alyeska Investment Group specializing in Energy. Prior to Alyeska, he worked at Shumway Capital, Greenlight Capital, Perry Capital and Goldman Sachs Group, Inc. focusing primarily on cyclical sectors. Mr. Patel graduated magna cum laude from the Wharton School of the University of Pennsylvania with a B.S. degree in Economics and concentrations in Finance and Management and minors in Mathematics and Chemistry.

Mr. Patel will report to Lance Rosen, who joined Blue Mountain as Head of Equities last July. Mr. Rosen was previously President and Chief Investment Officer at Kinrose Capital and, before that, spent a decade at Perry Capital in roles of increasing responsibility, including as a managing partner, head of US equities, and as a member of the executive committee.

"I'm thrilled to welcome Sanket to the BlueMountain team," said Mr. Rosen. "With growing volatility in the global equity markets, we believe this is the right time to continue to strengthen our capabilities in fundamental equity investing. Sanket's expertise over more than 15 years of research and portfolio management is a major asset for the firm and our clients."

Mr. Patel's hire is part of an ongoing diversification and growth of BlueMountain's equity strategies, which will cover industrials and energy, as well as financials, and a range of other equity sectors. In addition to hiring Mr. Rosen and Mr. Patel, BlueMountain promoted Jared Gould earlier this year from Senior Analyst to Portfolio Manager of Global Industrials and hired two analysts for the Global Industrials team. The firm plans to hire more sector portfolio managers and supporting analysts in the coming months.

The addition of more fundamental equity investment strategies complements the firm's quantitative and systematic equity investment strategies, led by Perry Vais.

"We are expanding our equities business, which will eventually have a larger portion of assets under management, as part of our broader investment strategies," said Stephen Siderow, Co-Founder and Co-President of BlueMountain. "Having strong capabilities in fundamental and quantitative equity investment strategies is a key component of providing our clients with investment solutions."