BlueMountain started 2019 running billions in different hedge funds. By the end of 2020, the firm will be almost entirely out of the hedge fund game.
$18.5 billion BlueMountain Capital has struggled performance-wise this year, and has cut different strategies to make itself more profitable.
The report that BlueMountain's biggest backer may sell comes just a week after Affiliated Managers Group said the fund was nearing profit targets.
Andrew Feldstein's flagship fund lost nearly 4% in the first quarter of 2019 while hedge funds as a whole had one of their best quarters in years.
