Blue Mountain: BlueMountain is shuttering its flagship hedge fund, and co-founder Stephen Siderow is leaving. The struggling firm will be almost entirely out of the hedge fund game.

BlueMountain websiteBlueMountain co-founder Andrew Feldstein will be CIO of Assured Guaranty's new asset management unit.BlueMountain is winding down its 16-year-old flagship fund, the $2.5 billion BlueMountain Credit Alternatives fund, to focus on its CLO business for its new corporate owner, Assured Guaranty. BlueMountain co-founder Stephen Siderow will also leave the firm at the end of the year, the firm said in a statement. The manager, which just a year ago was running several different hedge fund strategies, has pulled back from the space in just ten months. Click here for more BI Prime stories. BlueMountain - which has been a major player in the hedge fund game for more than 15 years - is winding down its flagship BlueMountain Credit Alternatives fund. Affiliated Managers Group recently