Wednesday, 17 September 2014
Last updated 57 min ago
May 27 2010 | 11:17am ET
You wouldn’t call Harbinger Capital Partners an emerging markets hedge fund. But the firm’s latest strategy is taking it into the frontier.
New York-based Harbinger has made a trio of investments in Africa, chasing the commodities boom to “the last untapped resource frontier on earth,” the firm’s Lawrence Clark told Bloomberg News.
Harbinger has taken big stakes in African Medical Investments and Sable Mining Africa—45% and 22%, respectively—as well as investing in African Minerals. And the $10 billion firm said that is only the beginning; Clark has looked into 15 countries over the past nine months.
“Over time, we’re going to work towards making more investments, but we’re only going to do so with great caution,” he said.
“The dollar value of our African investments, to date, has been very small as an overall percentage of our portfolio,” Clark added. “We’re doing a hell of a lot of work on small dollars right now to get comfortable that we’re making the right investments.”
A lot of that work includes visiting the continent: Clark said Harbinger will not invest in a project that he has not personally seen first-hand.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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