Harbinger investors still waiting for Q1 redemptions to be paid

By Britt Erica Tunick

Tue May 31, 2011

Read more:



Investors said they still don’t know when their payouts are coming and fear the firm will side pocket its LightSquared holdings.


Investors looking to exit Phil Falcone’s flagship Harbinger Capital Partners fund have found themselves in limbo. Despite submitting redemption requests by the firm’s March 31 first-quarter deadline, investors have not received their money back and also have not been told when they can expect it. As a result, some investors suspect that Falcone is planning to side pocket the firm’s controversial holdings of mobile telecom company LightSquared.


"With the way they’re dragging things out like this, it can’t be a good thing,"...

ISSN: 2151-1845 / CDC10004H

Register

By registering you will receive

  • A monthly newsletter on your specified areas of interest
  • A fortnightly update on the sector

Free Trial

Take a trial today and access

  • Performance news, fund launches, regulation changes and people moves
  • Profiles of fund managers, investors and distributors
  • Live league tables
  • Investor mandates


Popular Searches on HFI