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BlueMountain adds CreditAg traders in structured credit move

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BlueMountain Capital Management, the $7 billion global credit hedge fund headed by former JP Morgan man Andrew Feldstein, has taken on two senior structured credit traders from Credit Agricole as part of a deal done with the French bank at the end of last year.

Sources say the two traders are both joining BlueMountain’s operation in London, which the New York-based credit relative value-focused group has recently been expanding in a bid to exploit the increasingly attractive opportunity set in European credit markets.

Late last year Credit Agricole CIB and BlueMountain quietly announced a memorandum of understanding whereby