BlueMountain, Creighton Capital sell minority stakes

Fri Dec 14, 2007

The pace of hedge-fund dealmaking accelerated this week as both BlueMountain Capital Management and Creighton Capital Management agreed to sell minority stakes.

BlueMountain has sold an equity stake to Boston-based Affiliated Managers Group, a publicly traded asset management company. Creighton Capital sold a stake to Grail Partners, a merchant bank specializing in the global investment management business.

The rapidly growing BlueMountain, of New York, manages billions of dollars in a variety of credit strategies, including correlation, intra- and inter-credit, index arbitrage, credit/equity and equity volatility.

The firm has recently proven opportunistic, launching several funds to take advantage...


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