Harbinger Capital, the activist US hedge fund headed by Philip Falcone that shot to fame in 2007 with a lucrative bet against subprime mortgages, joined the list of funds restricting withdrawals for investors a day before the end of last year. Harbinger’s main fund rose almost 43% in the first half of last year but lost all its profits and ended the year down 27.1%. After redemptions and losses, the fund now manages about $6bn, one investor said, down from a peak of almost $20bn last summer.

This entry was posted by Gwen Robinson on Monday, January 12th, 2009 at 5:31 and is filed under Capital markets, Hedge funds, People. Tagged with harbinger. Edit this entry.