Hedge fund manager BlueMountain Capital Management has held the final close of the BlueMountain Summit Opportunities Fund II, the firm’s most recent multi-asset class opportunity fund, at USD1.3 billion in committed 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 already been made by Summit Fund II include: a private equity/real estate investment in a data centre technology company; a secured term loan in an energy company; a post-reorganisation equity investment in a healthcare company; and equity tranches of collateralised 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,” says Stephen Siderow (pictured), 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 capitalise on opportunities found in the "white spaces" between traditional asset class silos."
