Deals
Assured Guaranty to Buy BlueMountain for $160 million
- Insurer buying hedge fund firm from Affiliated Managers Group
- BlueMountain’s Feldstein to get $22.5M in Assured shares
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Assured Guaranty Ltd. has agreed to take over BlueMountain Capital Management, the $19.3 billion money manager that has come under pressure in recent months.
Assured Guaranty will pay $160 million to buy out majority shareholder Affiliated Managers Group Inc. and the founders, according to a statement Wednesday, confirming a report by Bloomberg News. The insurer will also invest an additional $590 million in the firm and its funds.