The $21 billion hedge fund BlueMountain Capital Management is closing its long-short equity fund just two years after launching it, a source familiar with the situation tells Business Insider. As a result, four equity portfolio managers were fired this week, several sources tell Business Insider. BlueMountain recruited several money managers from other funds as it restructured its equity business in 2018, including Mahmood Reza from the billionaire Leon Cooperman's Omega Advisors to make investments in financial companies and Sanket Patel from the Citadel alum Anand Parekh's Alyeska Investment Group to manage energy investments.