BlueMountain Capital Management closed BlueMountain Summit Opportunities Fund II on about $1.3 billion. The fund, which has begun investing, targets investments in multiple asset classes including public corporate credit and equity, mortgage and asset-backed securities, real estate and private debt and equity.
BlueMountain Capital Management, LLC (“BlueMountain”), a private investment firm with $22 billion in assets under management, today announced the final closing of the BlueMountain Summit Opportunities Fund II (“Summit Fund II” or “the Fund”). The Fund is the firm’s most recent multi-asset class opportunity fund and closes with approximately $1.3 billion in capital.
Summit Fund II has already begun deploying capital into high conviction investments across multiple asset classes including public corporate credit and equity, mortgage and asset-backed securities, real estate and private debt and equity. Investments focus on positions with excess risk premium associated with lower liquidity and heightened complexity. The Fund’s broad, flexible and long-term investment mandate allows BlueMountain to pursue opportunities across continuously evolving markets in both short-term trading and longer-term compounding investments.
Investments that have been made by Summit Fund II include:
Aligned Energy: A private equity/real estate investment in a data center technology company.
Seventy Seven Energy (NYSE: SSE): A secured term loan in an energy company.
Angiotech: A post-reorganization equity investment in a healthcare company.
CLO Equity: Equity tranches of collateralized loan obligations managed by BlueMountain.
“We are pleased to announce the final close of our Summit Fund II, which has already begun to deploy capital successfully,” said Stephen Siderow, Co-president and Co-founder of BlueMountain. “The Fund’s broad investment mandate and its long-term draw down structure enable us to invest opportunistically over a five to nine year time horizon. We will patiently deploy capital and believe our distinctive integrated investment process will capitalize on opportunities found in the “white spaces” between traditional asset class silos.”
The Summit Fund II benefits from BlueMountain’s 12-year track record of opportunistic investing as well as its integrated and interdisciplinary multi-asset class investment platform and best-in-class operational and risk infrastructure. The Fund will leverage BlueMountain’s 12 investment strategies and ~100 investment professionals based in its New York and London offices.
About BlueMountain Capital Management, LLC
BlueMountain Capital Management, LLC (“BlueMountain”) is a leading private investment firm managing $22 billion of assets. BlueMountain’s large and diverse team of professionals in New York and London is supported by the firm’s institutionalized and proprietary infrastructure, including specialized operations and risk management technology.