Assured Investment Management

Assured Investment Management previously BlueMountain Capital Management and Assured Guaranty, is a diversified alternative asset manager founded in 2003 based in the United States'.

BlueMountain Capital
TypePrivate
IndustryFinancial services
Founded2003 (2003)[1]
FounderAndrew Feldstein (CEO & CIO)[1][2]
Stephen Siderow (co-president)[2][3]
Headquarters280 Park Avenue, 12th Floor,
New York City, New York
,
U.S.
ProductsInvestment management
AUMUS$ 16.0 billion
(as of 30 June 2019)[4]
Websitebluemountaincapital.com

Company

BlueMountain was formed in 2003 with offices in New York and London. In 2016, the hedge fund managed US$22 billion.[5] BlueMountain manages multiple alternative asset classes, including collateralized loan obligation, fixed income, healthcare private equity and other alternative investments.[6]

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.[5][7]

In October of 2019, Assured Guaranty acquired BlueMountain Capital. In 2020, the firm was rebranded as Assured Investment Management.[8]

Personnel

The chief executive officer[5] and co-chief investment officer is Andrew Feldstein, who had a 10-year career at JP Morgan before co-founding the hedge fund.[5][7] Harvard professor and former Federal Reserve Board member Jeremy C. Stein was hired in 2015 as a consultant to BlueMountain.[5]

Investment

The firm has invested in Puerto Rican debt and has reportedly been active, including through DCI Group, in opposing efforts to give the commonwealth access to bankruptcy.[9] 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 BlueMountain, and specifically its holdings in Puerto Rico Electric Power Authority debt, among others for the impact of the financial crisis on health and education on the island.[10]

References
  1. Effinger, Anthony (19 January 2013). "From BlueMountain's Feldstein, a win-win with JPMorgan". The Washington Post. Washington DC. Retrieved 23 April 2019.
  2. Lovell, Hamlin (1 November 2018). "BlueMountain Capital Management". The Hedge Fund Journal. No. 136. Retrieved 25 April 2019.
  3. Ahmed, Nabila (22 April 2019). "BlueMountain's Europe CEO Louisa Church Is Joining Och-Ziff". Bloomberg. United States. Retrieved 23 April 2019.
  4. "Assured Guaranty Completes Acquisition of BlueMountain Capital Management". BusinessWire. United States. 1 October 2019. Retrieved 1 October 2019.
  5. Stevenson, Alexandra (23 March 2015). "Former Fed Board Member to Advise Hedge Fund". The New York Times. Retrieved 24 March 2015.
  6. "Company Overview of BlueMountain Capital Management LLC". Bloomberg. April 27, 2016. Archived from the original on April 27, 2016. Retrieved 27 April 2016.
  7. de la Merced, Michael J. (8 January 2013). "JPMorgan's Staley to Join BlueMountain Capital". New York Times. Retrieved 24 March 2015.
  8. "Assured Guaranty Rebrands BlueMountain Capital Management as Assured Investment Management". www.businesswire.com. 2020-09-22. Retrieved 2021-05-25.
  9. Mahler, Jonathan; Confessore, Nicholas (19 December 2015). "Inside the Billion-Dollar Battle for Puerto Rico's Future". The New York Times. New York. p. A1. Retrieved 11 November 2016.
  10. Rainey, Ryan (10 June 2016). "Group With Soros Ties Targets Hedge Funds in Puerto Rico Crisis". Morning Consult. Retrieved 16 November 2016.. The films are online here.
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