Type | Private subsidiary |
---|---|
Industry | Financial services |
Founded | 2003[1] |
Founders | Andrew Feldstein (CEO & CIO) [1] [2] Stephen Siderow (co-president) [2] [3] |
Headquarters | 280 Park Avenue, 12th Floor, New York City, New York , U.S. |
Products | Investment management |
AUM | US$ 15.2 billion (as of 31 December 2022) [4] |
Website | www |
Assured Investment Management is an institutional asset management firm, with a heritage in credit strategies. The firm manages approximately $15 billion as of 2022. [5]
Previously known as BlueMountain Capital Management, the firm has been owned since 2019 by Assured Guaranty, a publicly traded, Bermuda-based financial services holding company. Secondaries Investors called BlueMountain "one of the world's most prominent hedge funds". [6]
BlueMountain was formed in 2003 by two Harvard Law School classmates, Andrew Feldstein and Stephen Siderow. That same year, the firm launched its flagship relative value credit hedge fund with $300 million in assets under management. [7]
The company burnished its reputation in part by making "substantial profits" in 2012 in connection with JP Morgan's "London whale" trading loss . [8]
In the wake of its London whale gains, assets shot up from $12 billion in 2012 to $18 billion by 2013. [9] At the same time, the firm expanded its offering, launching five new strategies between 2012 and 2018. By 2016, the firm's AUM peaked at $23 billion. [10]
In October 2019, Assured Guaranty acquired BlueMountain Capital, and in 2020, the firm was rebranded as Assured Investment Management. [11]
In April 2023, Sound Point Capital announced it would acquire Assured Investment Management. [12]
Assured Healthcare Partners, now an independent healthcare-focused investment manager founded as the private healthcare strategy at BlueMountain in 2013, fully exited Assured Guaranty ownership in July 2023. [13]
The firm has invested in Puerto Rican debt and has reportedly been active, including through DCI Group, in opposing efforts to give the commonwealth access to bankruptcy. [14] After a debt relief program was passed by Congress in June 2016, a film company with reported ties to George Soros released two titles targeting BlueMountain, and specifically its holdings in Puerto Rico Electric Power Authority debt, among others for the impact of the financial crisis on health and education on the island. [15]
Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate. Blackstone is also active in credit, infrastructure, hedge funds, insurance, secondaries, and growth equity. As of June 2023, the company's total assets under management were approximately US$1 trillion, making it the largest alternative investment firm globally.
D. E. Shaw & Co., L.P. is a multinational investment management firm founded in 1988 by David E. Shaw and based in New York City. The company is known for developing complicated mathematical models and sophisticated computer programs to exploit anomalies in the financial market. As of June 1, 2021, D. E. Shaw manages $55 billion in AUM, $35 billion of which are alternative investments and the remaining $20 billion long-oriented investments. In 2023, Forbes reported that among hedge funds, D. E. Shaw had delivered the third-highest returns in the world since its inception.
The Bear Stearns Companies, Inc. was an American investment bank, securities trading, and brokerage firm that failed in 2008 as part of the global financial crisis and recession. After its closure it was subsequently sold to JPMorgan Chase. The company's main business areas before its failure were capital markets, investment banking, wealth management, and global clearing services, and it was heavily involved in the subprime mortgage crisis.
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