Saturday, 30 August 2014
Last updated 1 day ago
Feb 8 2011 | 12:17pm ET
Harbinger Capital Partners has sold off the last of its shares of satellite operator Inmarsat just weeks after winning regulatory approval to move forward with plans to build its own satellite-based wireless network in the U.S.
The New York-based hedge fund still owned 14% of Inmarsat after halving its stake in October. But it dumped the more than 64 million shares today, earning it almost $700 million.
The first half of Harbinger's stake fetched at US$650 million; at the time, Harbinger founder Philip Falcone crowed, "Inmarsat has been a terrific investment for Harbinger."
The hedge fund's ties to the company are not, however, at an end. Inmarsat and LightSquared, Harbinger's nascent 4G network, have a deal to work together on next-generation wireless technology.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...