BlueMountain Capital
| Private | |
| Industry | Financial Services |
| Founded | 2003 |
| Founder |
Andrew Feldstein Stephen Siderow[1] |
| Headquarters |
280 Park Avenue, 12th Floor |
| Products | Investment Management |
| Total assets | $22 billion (November 2016) |
| Website | Official website |
BlueMountain Capital Management is a privately owned hedge fund founded in 2003 and operating in the United States' and global investment industry.
Company
BlueMountain, a private company formed in 2003,[2] was reported to manage financial assets of US$22 billion in 2016.[3] It invests in public equity, fixed income, and alternative investments.[4]
The company made a reputation in part by making trades with JPMorgan Chase in the wake of the 'London whale' trading loss in the bank's London branch.[3][5] BlueMountain has offices in New York and London.[6]
Personnel
BlueMountain's chief executive officer[3] and co-chief investment officer is Andrew Feldstein, who had a 10-year career at JP Morgan before co-founding the hedge fund.[3][2][5] Harvard Professor and former Federal Reserve Board member Jeremy C. Stein was hired in 2015 as a consultant to BlueMountain.[3]
Investment
The firm has invested in Puerto Rican debt and reportedly been active, including through DCI Group, in opposing efforts to give the commonwealth access to bankruptcy.[7] After a debt relief program was passed by Congress in June, 2016, a film company with reported ties to George Soros released two titles targeting Blue Mountain, and specifically its holdings in Puerto Rico’s power authority (PREPA) debt, among others for the impact of the financial crisis on health and education on the island.[8]
References
- ↑ "Who We Are". BlueMountain Capital. Retrieved 27 April 2016.
- 1 2 Team page Archived March 18, 2015, at the Wayback Machine., company web site. Retrieved 2015-03-24.
- 1 2 3 4 5 Stevenson, Alexandra, "Former Fed Board Member to Advise Hedge Fund", New York Times, March 23, 2015. Retrieved 2015-03-24.
- ↑ "Company Overview of BlueMountain Capital Management LLC". Bloomberg. Retrieved 27 April 2016.
- 1 2 de la merced, Michael J. (January 8, 2013). "JPMorgan’s Staley to Join BlueMountain Capital". New York Times DealBook. Retrieved 2015-03-24.
- ↑ Company web site Home page Archived March 18, 2015, at the Wayback Machine.. Retrieved 2015-03-24.
- ↑ Mahler, Jonathan, and Nicholas Confessore, "Inside the Billion-Dollar Battle for Puerto Rico’s Future", New York Times, December 19, 2015. Retrieved 2016-11-16.
- ↑ Rainey, Ryan, "Group With Soros Ties Targets Hedge Funds in Puerto Rico Crisis", Morning Consult, June 10, 2016. The films are at filmsforaction.org. Retrieved 2016-11-16.