Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

BlueMountain Teams With Global Lending to Invest in Auto Loans

BlueMountain Capital Management LLC, the New York-based credit investment firm, has partnered with an auto finance company to collectively invest $100 million in sub-prime car loans.

The hedge fund manager is working with Atlanta-based Global Lending Services LLC and will have a majority interest in their joint venture, according to a statement distributed by Marketwire. Global Lending acquired the business of Resurgent Auto Finance, a sub-prime car loan originator, which includes a $38 million loan portfolio.

The partnership has obtained a $75 million senior debt facility from UBS AG, according to the release.

Issuance of bonds tied to payments on subprime car loans are accelerating at the fastest pace in five years. Led by Santander Consumer USA, volume of $10 billion this year in asset-backed debt linked to vehicle loans to borrowers with spotty credit records compares with $8.2 billion in the similar period of 2011, according to Barclays Plc as of July 30.

Sales are surging with the Federal Reserve holding its benchmark rate near zero to spur growth following the worst financial crisis since the Great Depression. Investors are seeking riskier assets to generate returns.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.