BlueMountain Closes Flagship Fund After Assured Purchase
- Co-founder Stephen Siderow to leave the firm at year end
- Firm said it plans to launch new strategies related to CLOs
This article is for subscribers only.
BlueMountain Capital Management, the former high-flier that gained renown for a winning bet amid the London Whale tumult, is closing its flagship hedge fund and losing a co-founder a week after the firm’s purchase by Assured Guaranty Ltd.
Co-founder Stephen Siderow will leave by the end of the year, the firm said Tuesday in a statement. Earlier this month, the $19 billion BlueMountain was sold to Assured Guaranty for $160 million.