Blue Mountain continues wind-down of credit alternatives fund: Letter

As of July 1, Blue Mountain Credit Alternatives Fund has returned 66% of capital back to investors as it continues the wind-down it started in October 2019. In their first-half letter to investors, which was reviewed by ValueWalk, fund management said due to the current market environment, they don’t expect significant distributions during the third quarter because risk reduction has slowed dramatically. Q2 2020 hedge fund letters, conferences and more Timing of further exits uncertain They are still reviewing cash balances each month and will continue to sweep back any excess beyond the $50 million they are required to keep…