03/02/2010 Author: Elana Margulies

BlueMountain bolsters capital-raising team

BlueMountain Capital Management has bolstered its capital-raising team as it looks to take advantage of growing inflows into the industry, HFMWeek has learned.

The $4bn credit specialist has added three employees to its existing marketing team of six. Two of the employees will be new to the firm, one based in New York and the other in London. Meanwhile, the third, Josh Drazen, will move into the group from BlueMountain's business management and strategy division, where he has been since 2007.

The firm's expanded marketing team will look to build assets by targeting pensions and endowments in 2010. BlueMountain is also considering working with a retail distribution platform in the future as the manager looks to increase assets beyond 2010.

Jay Bryant, managing director, said the inflow of assets back into the industry, particularly in Q4 2009, encouraged the firm to add marketing employees, with BlueMountain taking in new money in the fourth quarter of last year.

“The industry has more or less repaired itself over the course of 2009; most redemption pressures have abated, liquidity is better and many funds are experiencing inflows,” he said. “Things are looking up for firms that managed to stay in business.”

The most recent HFR data revealed that during Q4 2009, investors allocated $13.8bn into the industry.

Post a comment

Post a comment…

Be the first to comment on this article!

UK: Ucits IV

22/09/2010

UK: Ucits IV

The next HFMWeek Subscribers' Club breakfast will take place on Wednesday 22 September. Join us and…

Read More

30/09/2010

US: Capital introduction

The next US HFMWeek Subscribers' Club breakfast will take place on Thursday 30 September. Join…

Read More

26/08/10

European Legal Summit

The exclusive free event consists of two days of in-depth panel discussion and plenty...

Read More

Search HFMWeek