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BlueMountain Capital Management brings on four new PMs for global governments and mortgages strategies

Wednesday, July 11, 2018
Opalesque Industry Update - BlueMountain Capital Management, a private diversified alternative asset management firm, today announced that Morgan Alcalay, Evan Boulukos, Phil Hermann, and Andrew Seiz have joined as Portfolio Managers to manage relative value global government, municipal bonds, U.S. agency mortgage-backed securities, and emerging markets strategies, respectively. They will report to Colin Teichholtz, Head of Global Governments & Agency Mortgages.

"We see growing relative value investing opportunities in developed nation government debt, municipal bonds, U.S. agency MBS, and emerging markets," said Andrew Feldstein, Co-Founder and Chief Investment Officer of BlueMountain. "This is a natural evolution of BlueMountain's other investment strategies, which range from long-short and systematic equity, volatility, and private investment in healthcare and specialty finance to long-short, technical, structured, distressed and systematic credit," he explained.

"Investor and regulatory constraints, market fragmentation, large flows and issuance, and increased volatility, among other factors, are generating a broad array of temporary idiosyncratic dislocations, creating opportunities for relative value investing across all four of these markets," explained Mr. Teichholtz, who joined the firm in February. "With the reduction in Wall Street's balance sheets and proprietary trading since the financial crisis, we see an opportunity for BlueMountain to become a new liquidity provider to the market," he said.

Mr. Alcalay joins as Portfolio Manager of Interest Rates and will focus on relative value investment opportunities in developed nation government debt. Before joining BlueMountain, he traded U.S. Treasurys and STRIPS at Goldman Sachs and Barclays, respectively, focusing on relative value opportunities. He began his career as an information warfare officer in the U.S. Navy. Mr. Alcalay graduated magna cum laude from New York University with a B.S. in finance and statistics, studied computer science at Stanford University, and is a Chartered Financial Analyst.

Mr. Boulukos joins as Portfolio Manager of Municipal Bonds. Prior to joining BlueMountain, he was a Managing Director in the municipal securities division at Citigroup, where he managed a proprietary municipal bond portfolio. Before Citigroup, he was an institutional municipal flow trader at Lehman Brothers. Mr. Boulukos graduated cum laude with a B.S. in applied economics and business management from Cornell University.

Mr. Hermann joins as Portfolio Manager of Agency MBS. Previously, he traded agency MBS at Pine River Capital. Before that, he set up MBS sales and trading teams at MF Global and Braver Stern Securities and was a senior salesperson at UBS Securities and Nomura Securities. Mr. Hermann received an M.B.A. from the University of Chicago and graduated summa cum laude with a B.S. in mathematics and quantitative economics from Tufts University, where he was elected to Phi Beta Kappa.

Mr. Seiz joins as Portfolio Manager for Emerging Market Debt, including sovereign, quasi-sovereign, bank, and corporate debt. Previously, Mr. Seiz was a Portfolio Manager at Pine River Capital, focused on emerging markets fixed income. Prior to Pine River, Mr. Seiz was a Managing Director and Portfolio Manager at Nomura International, and was a senior research analyst at Merrill Lynch and Goldman Sachs. He received an M.S. in international economics from Columbia University and graduated cum laude with a B.S. in political science and economics from Tufts University.

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