AMG invests in BlueMountain Capital

Affiliated Managers Group Inc., a Beverly-based asset management holding company, and BlueMountain Capital Management announced today that AMG has acquired an equity interest in BlueMountain's business.

BlueMountain's management team continues to hold a majority of the equity in the company, and consistent with AMG's partnership approach, will retain operating autonomy to manage the business, said the firms, which did not disclose the financial terms of the transaction in a press release.

Based in New York and London, BlueMountain is a leading global credit alternatives manager specializing in relative value strategies in the corporate loan, bond, credit, and equity derivatives markets.

"BlueMountain is an excellent addition to our top-performing group of Affiliates, and the credit alternatives segment further diversifies our participation in alternative investment strategies," Sean M. Healey, AMG's president and chief executive, said in a statement.
(By Chris Reidy, Globe staff)