BlueMountain is shuttering its flagship hedge fund, and cofounder Stephen Siderow is leaving. The struggling firm will be almost entirely out of the hedge fund game.
Business Insider -

BlueMountain is winding down its 16-year-old flagship fund, the $2.5 billion BlueMountain Credit Alternatives fund, to focus on its CLO business for its new corporate owner, Assured Guaranty. 

BlueMountain co-founder Stephen Siderow will also leave the firm at the end of the year, the firm said in a statement. 

The manager, which just a year ago was running several different hedge fund strategies, has pulled back from the space in just ten months. 

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