Founded in 2001 by Philip Falcone, Harbinger Capital Partners was a New York-based hedge fund that grew to manage over $26 billion at its peak. The firm gained significant fame for its successful bet against the subprime mortgage market prior to the 2008 financial crisis. However, its fortunes reversed dramatically following a massive, concentrated, and ultimately failed investment in the wireless venture LightSquared. This, combined with regulatory scrutiny, led to significant investor withdrawals and the eventual winding down of its funds and operations around 2014-2015.

Founded in

United States