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 Hires Goldman Hedge Star Asali

Date: February 27th, 2009
Harbinger Capital Partners has announced that it has hired Omar Asali who he will be responsible for global portfolio strategy and portfolio analytics...

Harbinger increases stake in Cablevision to 8.1%

Date: August 25th, 2008
Harbinger Capital has increased its stake in Cablevision Systems Corp to 8.1%. The hedge fund is known for pressuring management into making changes to...

Activists Find Bidders for Investment Companies on their Own

Date: August 16th, 2008
A new strategy for activist investors is to find buyers for the companies they have invested in, sometimes without the management's knowledge or consent....

Harbinger Acquires Stake in Cablevision

Date: August 15th, 2008
Harbinger Capital has acquired a 4.9% stake in Cablevision. Harbinger Capital has previously also held activist stakes in media companies such as the...

Plainfield Taking Activist Stance Against Riviera

Date: August 13th, 2008
Plainfield Asset Management indicated that it wants to take an activist approach against Riviera Holdings Corp in a recent SEC filing. Plainfield, which...

Harbinger Opposes Cleveland Cliff's Bid

Date: July 18th, 2008
Harbinger Capital Partners, the activist hedge fund founded by Philip Falcone, opposed Cleveland-Cliffs proposed acquisition of Alpha Natural Resources....

Hedge Funds look to consolidate industries

Date: July 10th, 2008
Hedge funds are changing their strategies to take advantage of changes in the market environment. Instead of taking an activist investor approach to...

Firebrand wants changes at the New York Times

Date: January 27th, 2008
The Founder and CIO of Firebrand Partners, Scott Galloway, sent a letter to the executives at the New York Times Company today. Below are a couple excerpts:


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