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

News Archive

Read More Industry News >

Hedge Funds Back LightSquared's Bankruptcy Exit Plan

Dec 26, 2013
Jing Chen

Phil Falcone’s bankrupt wireless venture LightSquared's proposed plan to exit bankruptcy is backed by several firms, including hedge funds.

Reuters reported that LightSquared's plan, which includes $2.75 billion in fresh loans and an equity investment of at least $1.25 billion, will be backed by New York-based hedge fund firm Fortress Investment Group and Falcone's Harbinger Capital Partners. Other backers include Melody Capital Advisors and JPMorgan Chase & Co.

The article said that the proposal replaces a previous plan based on an auction of the company assets, which LightSquared ultimately scrapped because it did not receive any qualified bids to compete with a $2.2 bid led by Dish Network chairman Charlie Ergen.

The plan estimated the company's assets would be worth $8.4 billion, assuming an effective date of September 30 and FCC approval for the company's license.


Read More Industry News >

eVestment’s 2015 Hedge Fund Industry Outlook

Read More