Sunday, 31 August 2014
Last updated 1 day ago
Sep 20 2012 | 10:06am ET
Harbinger Capital Management's growing need for cash is being filled, in at least a small way, by its permanent capital vehicle.
The hedge fund's Harbinger Group said this week that one of its chief holdings, Spectrum Brands, would pay a special dividend that would yield it about $30 million. The distribution comes after a $20 million payment from portfolio company Fidelity & Guaranty Life in December, with a similar payment expected from F&GL in the fourth quarter.
In addition, Harbinger announced that Spectrum, which owns brands such as Black & Decker, Rayovac and Remington, is expected to begin paying quarterly dividends next year.
"This is a significant milestone for HGI, as this dividend payment will help further fuel value creation for our shareholders in 2012, and Spectrum Brands ongoing quarterly dividend will provide another dedicated cash flow stream going forward," Omar Asali, Harbinger Group's president and a Harbinger Capital executive, said. "Spectrum Brands is emblematic of the type of value-creating businesses that HGI seeks in order to deliver on its long-term strategic objectives."
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 ...