September 27, 2016 10:40 AM ET

Capital Markets

Company Overview of Harbinger Capital Partners LLC

Company Overview

Harbinger Capital Partners LLC is a privately owned hedge fund sponsor. The firm invests in the public equity and hedging markets. It makes its investments focusing on distressed opportunities, event-driven situations, restructurings, capital structure arbitrage, and short sales of securities. Harbinger Capital Partners LLC was founded in 2001 and is based in New York, New York.

450 Park Avenue

30th Floor

New York, NY 10022

United States

Founded in 2001



Key Executives for Harbinger Capital Partners LLC

Chief Executive Officer, President, Senior Managing Director, Chief Investment Officer, and Treasurer
Age: 54
Chief Operating Officer, Chief Financial Officer, and Chief Compliance Officer
Age: 41
Managing Director and Director of Investments
Chief Technology Officer
Compensation as of Fiscal Year 2016.

Harbinger Capital Partners LLC Key Developments

Federal Judge Dismisses Lawsuit over Harbinger's LightSquared

A federal judge dismissed a lawsuit accusing Philip Falcone and his Harbinger Capital Partners LLC of misleading investors by taking a majority stake in wireless company LightSquared Inc. without disclosing the investment or its risks. U.S. District Judge Alison Nathan in Manhattan said some claims did not adequately show how Falcone and Harbinger allegedly breached their duties to investors, while other claims were precluded under federal securities law. Once known as SkyTerra Communications Inc, LightSquared filed for bankruptcy protection in May 2012 after the U.S. Federal Communications Commission revoked its spectrum license. Investors accused Falcone and Harbinger of marketing their hedge funds as diversified, but using them to invest USD 3 billion in LightSquared prior to the bankruptcy, without disclosing the new strategy or its risks. They also claimed that Falcone improperly arranged a USD 113.2 million personal loan from his funds, and entered side agreements that provided favored treatment to large investors. A lawyer for Falcone and Harbinger did not immediately respond to requests for comment. A federal bankruptcy judge said LightSquared can emerge from Chapter 11 under the control of Centerbridge Partners LP and Fortress Investment Group LLC. In 2013, Falcone accepted a five-year securities industry ban as part of an USD 18 million settlement of U.S. Securities and Exchange Commission of civil fraud charges. He was still allowed to manage public companies. The case is In re: Harbinger Capital Partners Funds Investor Litigation, U.S. District Court, Southern District of New York, No. 12-01244.

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Recent Private Companies Transactions

December 4, 2015
LightSquared Inc.

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