BlueMountain Capital is ending its long-short equity strategy, a source close to the firm tells Business Insider, only two years after starting it. The firm is firing several portfolio managers on the equities team after recruiting talent from hedge funds like Leon Cooperman's Omega Advisors and Citadel alum Anand Parekh's Alyeska Investment Group over the past year. The firings are not related to the firm's decision to double down on its bet on the troubled California utility company PG&E in November, the source tells Business Insider.