Assured Investment Management previously BlueMountain Capital Management and Assured Guaranty, is a diversified alternative asset manager founded in 2003 based in the United States'.
Company
BlueMountain was formed in 2003 with offices in
New York
New York most commonly refers to:
* New York City, the most populous city in the United States, located in the state of New York
* New York (state), a state in the northeastern United States
New York may also refer to:
Film and television
* '' ...
and
London
London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...
. In 2016, the hedge fund managed US$22 billion.
BlueMountain manages multiple alternative asset classes, including
collateralized loan obligation
Collateralized loan obligations (CLOs) are a form of securitization where payments from multiple middle sized and large business loans are pooled together and passed on to different classes of owners in various tranches. A CLO is a type of coll ...
, fixed income, healthcare private equity and other alternative investments.
The company made a reputation in part by making trades with
JPMorgan Chase
JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of 2022, JPMorgan Chase is the largest bank in the United States, the ...
in the wake of the
"London whale" trading loss in the bank's London branch.
Personnel
The chief executive officer[ and co-chief investment officer is Andrew Feldstein, who had a 10-year career at JP Morgan before co-founding the hedge fund.][ ]Harvard
Harvard University is a private Ivy League research university in Cambridge, Massachusetts. Founded in 1636 as Harvard College and named for its first benefactor, the Puritan clergyman John Harvard, it is the oldest institution of higher le ...
professor and former Federal Reserve Board
The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the mon ...
member Jeremy C. Stein
Jeremy Chaim Stein (born October 17, 1960) is an American macroeconomist and the Moise Y. Safra Professor of Economics at Harvard University; he also chaired Harvard's economics department. He served as a member of the Federal Reserve Board of Go ...
was hired in 2015 as a consultant to BlueMountain.[
]
Investment
The firm has invested in Puerto Rican debt and has reportedly been active, including through DCI Group
DCI Group is an American public relations, lobbying and business consulting firm based in Washington, D.C. The company was founded in 1996 as a consulting firm, and has since expanded its practice to become a public affairs company offering a ra ...
, in opposing efforts to give the commonwealth access to bankruptcy. After a debt relief program was passed by Congress in June 2016, a film company with reported ties to George Soros
George Soros ( name written in eastern order), (born György Schwartz, August 12, 1930) is a Hungarian-American businessman and philanthropist. , he had a net worth of US$8.6 billion, Note that this site is updated daily. having donated mo ...
released two titles targeting BlueMountain, and specifically its holdings in Puerto Rico Electric Power Authority
The Puerto Rico Electric Power Authority (PREPA; Spanish: ''LUMA'', ''AEE'') was an electric power company owned by the Commonwealth of Puerto Rico responsible for electricity generation, power distribution, and power transmission on the island. ...
debt, among others for the impact of the financial crisis on health and education on the island.[. The films ar]
online here
References
{{reflist, 2
External links
Company web site
Hedge fund firms of the United States
American companies established in 2003
Financial services companies established in 2003
Private equity firms of the United States