Glencore International Plc bought a stake in Ferrous Resources Ltd., the Brazil iron-ore miner part- owned by billionaire investor Carl Icahn, as the trader seeks to bolster its position in the market for the raw material.
Phil Falcone, founder of Harbinger Capital Partners, has made and lost billions with bets on mortgages and iron mines. Now, in a bid to build a new broadband network, he’s blasting investors money into space.
Phil Falcone, whose hedge fund Harbinger Capital Partners LLC has invested about $3 billion in a wireless venture that’s fighting to avert bankruptcy, said investors are passing up good illiquid investments.
Billionaire Phil Falcone is seeking to swap spectrum owned by LightSquared Inc. with that controlled by the U.S. Department of Defense, a person with knowledge of the company said, in an effort to salvage his investment and save his hedge fund.
Jefferies Group Inc. has been trying to spread the risk of a $190 million loan to Phil Falcone’s Harbinger Capital Partners LLC by offering a syndication deal with an unusual caveat: it defaults if Falcone is indicted.