BlueMountain_Capital

Assured Investment Management

Assured Investment Management

American investment firm

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]

Quick Facts Company type, Industry ...

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]

History

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]

Investments

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]

References

  1. [1]
    Effinger, Anthony (19 January 2013). "From BlueMountain's Feldstein, a win-win with JPMorgan". The Washington Post. Washington DC. Retrieved 23 April 2019.
  2. [2]
    Lovell, Hamlin (1 November 2018). "BlueMountain Capital Management". The Hedge Fund Journal. No. 136. Retrieved 25 April 2019.
  3. [3]
    Ahmed, Nabila (22 April 2019). "BlueMountain's Europe CEO Louisa Church Is Joining Och-Ziff". Bloomberg. United States. Retrieved 23 April 2019.
  4. [4]
    "Sound Point Capital to Acquire Assured Investment Management, and Receive $1 Billion Investment Commitment From Assured Guaranty". Business Wire. April 5, 2023.
  5. [5]
    "Sound Point Capital to Acquire Assured Investment Management, and Receive $1 Billion Investment Commitment From Assured Guaranty". Business Wire. April 5, 2023.
  6. [6]
    James, Rod. "To be able to copy & paste content to share with others please contact us at [email protected] to upgrade your subscription to the appropriate licence". Secondaries Investor. February 16, 2021.
  7. [7]
    Lovell, Hamlin. "BlueMountain Capital Management: The "bucket-busting" alternative asset manager marks 15 years". The Hedge Fund Journal. November 2018.
  8. [8]
    Anthony Effinger and Mary Childs. "From BlueMountain's Feldstein, a win-win with JPMorgan". The Washington Post. January 19, 2013.
  9. [9]
    Ortenca Aliaj, Joe Rennison, and Miles Kruppa. "BlueMountain: the hedge fund that lost its way". Financial Times. November 12, 2019.{{cite web}}: CS1 maint: multiple names: authors list (link)
  10. [10]
    Ortenca Aliaj, Joe Rennison, and Miles Kruppa. "BlueMountain: the hedge fund that lost its way". Financial Times. November 12, 2019.{{cite web}}: CS1 maint: multiple names: authors list (link)
  11. [11]
    "Assured Guaranty Rebrands BlueMountain Capital Management as Assured Investment Management". www.businesswire.com. 2020-09-22. Retrieved 2021-05-25.
  12. [12]
    "Sound Point Capital to Acquire Assured Investment Management, and Receive $1 Billion Investment Commitment From Assured Guaranty". Business Wire. April 5, 2023.
  13. [13]
    "Assured Guaranty Sells Full Stake in Assured Healthcare Partners". Assured Guaranty. July 21, 2023.
  14. [14]
    Mahler, Jonathan; Confessore, Nicholas (19 December 2015). "Inside the Billion-Dollar Battle for Puerto Rico's Future". The New York Times. New York. p. A1. Retrieved 11 November 2016.
  15. [15]
    Rainey, Ryan (10 June 2016). "Group With Soros Ties Targets Hedge Funds in Puerto Rico Crisis". Morning Consult. Retrieved 16 November 2016.. The films are online here.
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