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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