Hedge Funds

BlueMountain Capital adds portfolio manager for insurance-linked securities

Albert Selius joined alternative credit manager BlueMountain Capital Management as a portfolio manager, specializing in insurance-linked securities.

The position is new, confirmed Ted Smith, a company spokesman, in an email.

"Strengthening our presence in the insurance-linked asset class reflects BlueMountain's commitment to providing investors with a diversified, non-correlated return profile by capitalizing on opportunities across markets, asset classes, sectors and instruments," said Andrew Feldstein, co-founder, CEO and co-chief investment officer, in a news release, adding "Al's expertise is a natural complement to our existing multistrategy capabilities."

Mr. Selius was a portfolio manager of insurance-linked securities at Pine River Capital Management. Patrick Clifford, a Pine River Capital spokesman, did not immediately return a call seeking information about a replacement.

BlueMountain manages $21 billion in hedge fund assets.