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$0.53 (2.20%)
09:11PM (15 mins delay)
Jun 25, 2009 - 3:48 AM EDT
Market Folly submits:This is the 1st Quarter 2009 edition of our ongoing hedge fund portfolio tracking series. Before reading this update, make sure you check out the Hedge Fund 13F filings series preface.
Harbinger Capital Partners is a $6 billion firm ran by Philip Falcone. Harbinger was started in 2000 with seed capital from Harbert Management ($25 million). We've learned that Falcone is buying out Harbert to be the owner of the firm. Falcone made a name for himself in 2007 when he started shorting subprime mortgages and returned 117%. He focuses on intensive credit research, on bankruptcies and proxy fights, and was previously involved with high yield debt trading. Lately, he's been focused on equities it seems, but Harbinger's new fund will redirect his focus back to his roots.
Source: Seeking Alpha (Jun 25, 2009 - 3:48 AM EDT)
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