Industry Financial Services Founded 2003 Headquarters New York City, London | Products Investment Management Type of business Private | |
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Founder Andrew Feldstein
Stephen Siderow Total assets 22 billion USD (November 2016) | ||
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BlueMountain Capital Management, LLC is a privately owned hedge fund founded in 2003 and operating in the United States' and global investment industry.
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Company
BlueMountain, a private company formed in 2003, was reported to manage financial assets of US$22 billion in 2016. It invests in public equity, fixed income, and alternative investments.
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. BlueMountain has offices in New York and London.
Personnel
Andrew Feldstein is BlueMountain's chief executive officer and co-chief investment officer, with a 10-year career at JP Morgan before co-founding the hedge fund. Harvard Professor and former Federal Reserve Board member Jeremy C. Stein was hired in 2015 as a consultant to BlueMountain.
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. 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.