HRG Group (Harbinger Capital Partners) - Investor Profile

Primary Address:

Investor Information:

555 Madison AvenueTotal AUM ($MM):9,000
16th FloorEquity AUM ($MM):2,292
New York, NY 10022Investment Style:Deep Value
United StatesOrientation:Shareholder Activist
Phone: 212-521-6970 Investor Type:Hedge Fund Manager

Institutional Investor Background

HRG Group (Harbinger Capital Partners) is a privately owned hedge fund, founded by former Chairman Philip Falcone in 2001. Before founding Harbinger, Mr. Falcone was the Head of High Yield trading for Barclay's Capital. The firm focuses on investment opportunities that arise from restructurings, liquidations, event-driven situations, turnarounds, and capital structure arbitrage.

Until being split-off in 2009, HRG Group / Harbinger Capital was a subsidiary of Alabama-based Harbert Management Corporation. In 2008, the firm announced it would be moving to separate offices from its parent, although Harbinger would continue to receive back-office, legal and compliance support from Harbert.

The firm's hedge funds include the Harbinger Capital Partners Master Fund and Harbinger Capital Partners Special Situations Fund LP.

Investor Regional and/or Country Focus: Europe, Global, North America

Founders and Key Executives of HRG Group (Harbinger Capital Partners): Philip Falcone*; Omar Asali (CEO); Peter Jenson (COO)

Entities related to HRG Group (Harbinger Capital Partners): HRG Capital; Harbinger Capital Partners Master Fund; Harbinger Capital Credit Distressed BlueLine Fund; Harbinger Capital Partners Special Situations Fund LP; Harbert Management Corporation*

*Denotes that the person or entity is no longer related to the firm. **If you would like to submit investor updates, please click here. ***Relevant firms may include firms where founders previously worked, funds that were spun-off from the firm, funds that were seeded by the firm and/or unrelated firms that were founded by veterans of the fund. For specific details, please review the Investor Background sections for each firm of interest.

HRG Group (Harbinger Capital Partners)'s Top 10 Equity Holdings

Company (Ticker) ($MM) Shares Change % Out
Spectrum Brands Inc (SPB) 1,691.66 29,893,186 0 28.87
Harbinger Group Inc (HRG) 799.29 96,766,253 -2,694,650 69.47
Harbinger Group Inc (HRG) 83.37 10,093,637 -305,350 7.25
North American Energy Partners Inc (NOA) 31.93 7,032,322 0 19.40
EXCO Resources Inc (XCO) 24.96 3,500,000 0 1.63

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Articles Related to HRG Group (Harbinger Capital Partners)

Harbinger Capital-backed LightSquared ponders IPO

Date: March 13th, 2011
Phil Falcone made a risky bet when he invested half of Harbinger Capital's $6 billion of capital into LightSquared, a startup telecom company. LightSquared...

Phil Falcone’s side-pocket Investments suffer

Date: February 17th, 2011
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....

Harbinger Capital veteran Lawrence M. Clark launching hedge fund

Date: January 13th, 2011
Lawrence M. Clark Jr. has left Philip Falcone’s Harbinger Capital Partners and plans to open his own event-driven focused hedge fund management firm....

Phil Falcone’s Harbinger Capital Scores with BlueLine Returns

Date: November 10th, 2010
Phil Falcone of Harbinger Capital told investors this week his distressed credit fund returned 11.6 percent year to date. The news was first reported...

Phil Falcone’s Harbinger Capital launches Pan-Asian Hedge Fund

Date: October 1st, 2010
Phil Falcone’s Harbinger Capital Partners launched a Pan Asian hedge fund in September 2010 to focus on special situation opportunities within Asia....

Phil Falcone’s Harbinger Capital is Making Coin on Distressed Credit Trading

Date: September 15th, 2010
Contrary to a recent Reuters article, Phil Falcone’s hedge fund Harbinger Capital is apparently having a good year. Harbinger’s Blue Line,...

Falcone’s Harbinger Capital sees rapid slump in July

Date: August 11th, 2010
Philip Falcone’s flagship Harbinger Capital Partners Offshore Fund I was down 10.7% as of July 15, despite the fund’s positive performance through...

Deutsche Telekom Discussing Partnership with Harbinger Capital Partners

Date: May 6th, 2010
Deutsche Telekom’s US mobile business, T-Mobile USA, is in early discussions with Harbinger Capital Partners to leverage the 4G network the hedge fund...

Scott Galloway, Harbinger Capital’s representative, to step down from New York Times Board

Date: February 23rd, 2010
Scott Galloway of shareholder activist investment firm Firebrand Partners has decided not to seek reelection for his seat on the board of the New York...

Phil Falcone makes a killing on new Harbinger Credit Fund

Date: February 5th, 2010
Seasoned distressed debt trader and turnaround investor Phil Falcone is making his investors very happy. Last year he convinced the Street to give him...

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