Hedge Fund Focus

Reuters Reports Hedge Fund Firm Profits in First Quarter

Reuters is reporting that the hedge fund Harbinger Capital Partners Fund I, which lost 28% last year, is starting off this year with gains of between 6 – 8%.  The hedge fund firm is run by Philip Falcone who is also starting a fund to buy CDS investments.  The gains of this year are welcome news to Falcone who suffered massive drawdowns last year and accordingly had to negotiate with investors in order to keep the fund going.  Full article here.