Harbinger Down In August; Firm Transfers Spectrum Stake

Sep 14 2010 | 11:03am ET

A bad 2010 got worse for Harbinger Capital Partners in August.

The firm’s flagship hedge fund lost 4.7% last month, Reuters reports. The fund is now down 16.3% on the year.

Separately, the New York-based firm, which manages about $8 billion, announced that it would transfer the fund’s stake in Spectrum Brands Holdings to a holding company of its own, Harbinger Group. Harbinger Group, an acquisitions company, will take a 54.4% stake in Spectrum. In exchange, the Harbinger fund will take a 93.3% stake in Harbinger Group.

The fund will also maintain a 12.7% stake in Spectrum, which owns such brands as the George Foreman grills, Black & Decker and battery company Rayovac.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Compelling Opportunities In The Alternatives Space

Jul 29 2014 | 9:33am ET

In an environment where many asset classes seem expensive by historical standards...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note