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Harbinger Capital distressed fund locks in 116.54% for 2007, December up 5.33%, Falcone says opportunity set `growing`

Friday, January 11, 2008

The Harbinger Capital Partners Fund I and Harbinger Capital Partners Offshore Fund I reported an estimated return of 5.33% and 5.36% for December, net of fees and expenses. The Harbinger Capital Partners Fund I 2007 return stands at 116.54%, the Harbinger Capital Partners Offshore Fund I clocked in 118.28%. The profits for the month were generated by the long side of the portfolio, which consists of lower dollar priced, distressed assets, according to an investor communication obtained by Opalesque.

Philip Falcone, Senior Managing Director of the fund run by Harbert Management Corporation, added that "the holidays were unable......................

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