NEW YORK, Oct. 10, 2012 /PRNewswire/ -- BlueMountain Capital Management a private investment firm with over $10 billion in assets under management today announced the closing of the BlueMountain Credit Opportunities Master Fund I LP the firm's most recent and largest longer-dated credit fund, with over $1.4 billion in capital commitments.
Credit Opportunities I will invest opportunistically to capture the large premium available in more complex and less liquid credit instruments. The fund will focus on corporate structured credit such as CLOs and synthetic collateralized debt obligations, asset-backed financing transactions and securities and off-the-run single company corporate credit. The new fund lets investors take advantage of opportunities arising in less liquid credit instruments that are being driven by regulatory changes, complexity fatigue and the retreat of bank capital from secured, asset backed and structured lending markets.
"We are pleased with the reception this fund has had among institutional investors and family offices," said Stephen Siderow, President and Co-Founder of BlueMountain. "A combination of political and market forces, including the secular retreat of capital from traditional lenders, has created opportunities for very attractive risk-adjusted returns for investors who have the ability and confidence to commit capital with us for 5 years. Our proven expertise, track record, scale of operations and industry-leading infrastructure allow us to capitalize on these opportunities."
Credit Opportunities I will benefit from BlueMountain's collaborative investment process that integrates fundamental company research, technical analysis of credit instruments and markets and sophisticated mathematical modeling of fixed income cash flows. The fund will leverage BlueMountain's 140-person team, including 20 research analysts and 23 portfolio managers, across its New York and London offices. The closing of the new fund will bring BlueMountain's assets under management to over $11 billion.
About BlueMountain Capital Management
BlueMountain Capital Management is an investment firm focused on the global credit markets and equity derivatives markets.
BlueMountain, founded in 2003, is led by a senior and experienced management team of the following eight Managing Principals who have worked together for many years: Andrew Feldstein, Alan Gerstein, Peter Greatrex, Michael Liberman, Bryce Markus, David Rubenstein, Stephen Siderow, and Derek Smith. The firm has been SEC-registered since its inception and is QPAM qualified.
BlueMountain's investment approach integrates fundamental company research, advanced quantitative methods and market and product knowledge. Its investment strategies range from highly fundamental to nearly pure arbitrage. BlueMountain's edge lies in its focus on the seams and intersections of a market that continues to be characterized by a high degree of artificial boundaries amongst instrument types and investment mandates.
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SOURCE BlueMountain Capital Management