Harbinger to Launch Troubled Bond & Loan Focused Fund

March 20th, 2009
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Bloomberg reported today that Philip Falcone’s Harbinger Capital is launching a distressed fund. The firm is going forward with the launch, despite the fact that its flagship fund is limiting investor withdrawals. The new fund, Credit Distressed Blue Line Fund, will purchase troubled bonds and loans, and make bets against higher-rated debt.

According to the article, Harbinger’s assets under management have fallen 73% since a $26 billion peak in mid-2008.
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For Detailed Investor Profiles on these Investors, click below:
HRG Group (Harbinger Capital Partners)
Related People: Omar Asali (CEO); Peter Jenson (COO); Philip Falcone*
Related Entities: Harbert Management Corporation*; Harbinger Capital Credit Distressed BlueLine Fund; Harbinger Capital Partners Master Fund; Harbinger Capital Partners Special Situations Fund LP; HRG Capital
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles

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