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)

WSJ has it Wrong, No “Insider Information” suit against Falcone’s Harbinger Capital

Date: December 31st, 2009
Despite misleading headlines in the Wall Street Journal, Phil Falcone’s Harbinger Capital Partners has not been sued for using insider information...

Harbinger Capital cuts New York Times stake again

Date: December 7th, 2009
Phil Falcone's Harbinger Capital Partners has cut its stake in the New York Times Company (NYSE: NYT) for the third time since September, two years after...

Phil Falcone’s Harbinger Capital to acquire SkyTerra

Date: September 26th, 2009
On Wednesday, SkyTerra (OTCBB: SKYT) announced that it had entered into a definitive merger agreement with Philip Falcone’s Harbinger Capital Partners....

SAC Capital and Crestwood Advisors add Industry Veterans

Date: August 31st, 2009
In this week’s hedge fund hire report, we look at firms that have recently added industry veterans to their teams. The investment firms covered in...

Harbinger Capital Abandons Attempt at Asarco Takeover

Date: August 7th, 2009
Harbinger Capital Partners has officially ended its efforts to take over Asarco, according to VCCircle, leaving the door open for India’s Sterlite or...

Harbinger Capital Shopping maker of the George Foreman grill

Date: June 17th, 2009
Harbinger Capital Partners is exploring a possible sale of Salton, a home-appliance company that makes the George Foreman grill. According to an article...

Harbinger Proceeds with Re-Org Plan for Asarco

Date: May 27th, 2009
Harbinger Capital Partners has been given permission by a U.S. bankruptcy court to proceed with the filing of a reorganization plan for Asarco, a bankrupt...

Geffen Trying to Buy Harbinger Out of NY Times

Date: May 12th, 2009
The Financial Times reported today that David Geffen has been in discussions to purchase Harbinger Capital’s 19.8% stake in the New York Times Company...

Harbinger’s Falcone Sued by Former Chief Investment Officer Kagan

Date: April 30th, 2009
The New York Post reports that Harbinger Capital Partners’ former Chief Investment Officer Howard Kagan is suing Harbinger’s founder Philip Falcone...

Harbinger to Launch Troubled Bond & Loan Focused Fund

Date: 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...

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