NEW YORK, Jan. 29, 2015 /PRNewswire/ -- BlueMountain Capital Management, LLC ("BlueMountain"), a private investment firm with $20 billion in assets under management, today announced the first closing of the BlueMountain Summit Opportunities Fund II. The fund is the firm's most recent opportunistic multi-asset class fund and closes with approximately $1 billion in capital commitments.
The Summit Opportunities Fund II will concentrate on high conviction investments across asset classes including corporate credit and equity, mortgage and asset-backed securities, real estate and private capital. It will focus on positions with excess risk premium associated with lower liquidity and heightened complexity. The fund's broad and flexible investment mandate will allow BlueMountain to pursue opportunities across its global platform and position for continuously evolving markets in both short-term trading and longer-term compounding investments.
This fund closing follows that of the Credit Opportunities Fund I in October 2012 at $1.5 billion.
"We are encouraged by our investors' enthusiasm for and commitments to Summit Opportunities II," said Stephen Siderow, co-president and co-founder of BlueMountain. "Financial markets are in the midst of a 'once in a generation' transformation, fueled by regulatory pressure and macro-economic forces. Over the next decade, these structural shifts will reward those who can adapt – those with scale, flexibility and the ability to integrate multiple investment disciplines. We believe that our large, diverse and experienced team will continue to source, analyze and execute attractive investments that few others can."
The Summit Opportunities Fund II will benefit from BlueMountain's 11-year track record of opportunistic investing as well as its interdisciplinary, multi-asset class investment platform and best-in-class operational and risk infrastructure. The fund will be managed by BlueMountain's CIOs, Derek Smith and Andrew Feldstein, and will leverage BlueMountain's 14 strategy teams and ~100 investment professionals based in its New York, London, and Tokyo offices.
About BlueMountain Capital Management, LLC
BlueMountain is a leading absolute return manager managing $20 billion of assets, with $15 billion in absolute return funds and $5 billion in CLOs. BlueMountain's large and diverse team of professionals in New York, London and Tokyo are supported by the firm's institutionalized and proprietary infrastructure, including specialized operations and risk management technology. The firm seeks to build an enduring partnership that consistently meets the expectations of its investors by delivering consistent investment returns independent of market timing and macroeconomic conditions, preserving capital and adding value via thought partnership and transparency.
SOURCE BlueMountain Capital Management, LLC