BlueMountain Teams With Global Lending to Invest in Auto Loans
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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.