Harbinger Limits Redemptions

Dec 29 2008 | 3:21am ET

A leading activist hedge fund is limiting withdrawals after investors sought to pull more than one-third of its assets at the end of the year.

Harbinger Capital Partners said investors will only receive 60% to 70% of their $3.5 billion in redemption requests from its flagship. The Harbinger Capital Partners Master Fund manages roughly $10 billion, and is down about 23% this year.

The losses at Harbinger are a severe reversal for the firm, which enjoyed several activist successes in the first half of the year, ending June up 43% in the first six months of 2008. Harbinger, which was founded in 2001, has never posted a losing year.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...