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BlueMountain Surge Highlights Alternative Demand

BlueMountain Capital Management LLC, an investment firm specializing in credit markets, has produced steady but unspectacular returns during the past five years. Investors have loved the managers for it.

Assets at the New York-based firm have jumped almost fourfold to $19.6 billion since June 2009. Its main credit fund has grown to $8 billion from $2.3 billion with annualized returns of 11.6 percent, according to letters sent to investors.