Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

To submit industry-related press releases or request feature ideas please contact editor@evestment.com

News Archive

Read More Industry News >

Harbinger Insurance Unit Plans $100M IPO

Sep 02, 2013
Jing Chen

Phil Falcone’s Harbinger Capital Partners is planning a $100 million initial public offering for one of its insurance units.

The Wall Street Journal reported that fixed annuities specialist Fidelity & Guaranty’s IPO is still in its preliminary stages. The money raised from the IPO will be used to fund its expansion and a dividend payment to its conglomerate Harbinger Group, which acquired the insurance unit in 2011.

Falcone and Harbinger Capital Partners, which are majority owners in Harbinger Group, recently reached a settlement with the Securities and Exchange Commission stemmed from charges of market manipulation and other violations.

Falcone and his New York-based firm Harbinger Capital Partners have agreed to pay more than $18 million and admit wrongdoing. The hedge fund manager has also been barred from the securities industry for at least five years.

 

 

 

Read More Industry News >

eVestment’s 2015 Hedge Fund Industry Outlook

Read More