Jenson Out, Asali In At Harbinger

Jul 6 2011 | 7:54am ET

Peter Jenson has resigned as COO and director at Philip Falcone’s hedge fund firm Harbinger Capital Partners.

Jenson’s resignation was recorded in a regulatory filing and comes during a difficult time for Harbinger, which is dealing with issues surrounding its LightSquared wireless venture and a controversial plan to offer in-kind redemptions (in the form of LightSquared shares) to Harbinger investors. The hedge fund has a substantial portion of its assets invested in the wireless scheme.

According to Bloomberg, the documents provide no reason for the resignation other than the "mutual agreement" of Jenson and Falcone.

In related news, Omar Asali is poised to become president of the Harbinger Group, Falcone’s permanent capital vehicle, replacing the current president—Falcone himself—who will continue to serve as board chair, CEO and CIO.

Said Falcone: "Omar's appointment significantly strengthens the management team for building HGI, and I look forward to working with him to take the company forward. I have known Omar for almost 10 years and have complete confidence in his management skills and ability to lead and build organizations.  I believe his business and financial acumen will contribute significantly to our future growth and value-creation potential."

Asali has served as a director of the company since May 2011. He is also a managing director and head of global strategy for Harbinger Capital Partners and is responsible for its global portfolio and business strategy.

Prior to joining Harbinger Capital Partners in 2009, Asali was co-head of Goldman Sachs hedge fund strategies where he helped to manage capital allocated to external managers.  Asali also served as co-chair of the investment committee at HFS.  Before joining HFS in 2003, Asali worked in Goldman Sachs' investment banking division, where he provided merger and acquisition and strategic advisory services. 


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    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…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.