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Assured Guaranty closes $160M acquisition of BlueMountain Capital

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Assured Guaranty closes $160M acquisition of BlueMountain Capital

Assured Guaranty Ltd. subsidiary Assured Guaranty US Holdings Inc. closed its acquisition of BlueMountain Capital Management LLC for about $160 million in cash.

The acquisition included all the outstanding equity interests in the alternative asset management firm and its associated entities. Of the total purchase price, $3 million will be paid following receipt of a particular consent within two months of the deal completion.

Separately, BlueMountain Capital co-founder, CEO and Chief Investment Officer Andrew Feldstein agreed to buy $22.5 million of Assured Guaranty common shares within the next two months. In addition to his roles at BlueMountain Capital, Feldstein will join Assured Guaranty as chief investment officer and head of asset management.

Goldman Sachs & Co. LLC and Greensledge Capital Markets LLC were financial advisers, and Mayer Brown LLP was legal adviser to Assured Guaranty. Barclays Capital Inc. was a financial adviser, and Purrington Moody Weil LLP was legal adviser to BlueMountain Capital.