Harbinger to Launch Troubled Bond & Loan Focused Fund
|March 20th, 2009||
|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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