NEW YORK, Jan. 17, 2019 /PRNewswire/ -- BlueMountain Capital Management, LLC ("BlueMountain"), a private diversified alternative asset management firm, today sent an open letter to the Board of Directors of PG&E Corporation and the Board of Directors of Pacific Gas and Electric Company challenging their plans announced January 14 to file for Chapter 11.
"There is overwhelming evidence that PG&E is solvent. We simply cannot recall a situation where such a valuable company filed for bankruptcy with such blatant questions about the necessity of doing so," reads the letter.
About BlueMountain Capital Management, LLC BlueMountain Capital Management, LLC ("BlueMountain") is a diversified alternative asset management firm managing approximately $19 billion of assets. BlueMountain's diverse team of professionals in New York and London is supported by the firm's institutionalized and proprietary infrastructure, including specialized operations and risk management technology. For more information about BlueMountain, please visit: www.bluemountaincapital.com
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