Phil Falcone’s side-pocket Investments suffer

February 17th, 2011
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Philip Falcone’s Harbinger Capital Partners revealed this week that the value of the assets in its illiquid side-pocket pool fell by 19.5% in 2010. According to Bloomberg, the hedge fund manager setup the pool hard-to-sell assets during the financial crises in order to avoid selling assets at rock bottom prices.

As of 9/31/2010, Harbinger Capital’s illiquid pool represented approximately $1.3 billion of the firm’s $9 billion in assets under management.
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: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News

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