Times Online- Philip Falcone is used to demanding change from underperforming company executives, but yesterday he took Harbinger Capital, his activist hedge fund, into new territory.

Complete with financial advisers and a big stake, Harbinger broke cover as a traditional prospective buyer of strategic assets, with a tentative approach to Inmarsat, the London-listed satellite operator.

Harbinger has a 29.9 per cent holding in Inmarsat, as well as stakes in several other satellite companies, including America’s SkyTerra and Terrestar.

Mr Falcone, a former Barclays Capital trader, appears to be intent on acting as an industry consolidator, a role more commonly played by trade buyers or private equity funds.

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Tags: citigroup, global-investor-network, ipo, lead-investor, losses, mistrust, personal-reasons, size-women, south-korean

Reuters – Boutique alternative fund firm Triple A Partners said on Friday it was backing a new South Korea-focused hedge fund which it expects to launch on Sept. 1 with around $40 million in assets.

Triple A, also known as Asia Alternative Asset Partners, said it would seed KS Asset Management, which will launch the KS Asia Long/Short Fund. The new hedge fund will be a Korean-focused vehicle with the ability to trade across Asia.

The new fund will be managed by Kyle Shin, formerly the head of Kingdon Capital Korea. Triple A said Shin will establish the new business in Hong Kong, from where he will build out his team.

It said he would be joined by an analyst with more than seven years experience in managing Korean portfolios, and an external investment consultant.

Shin has "an outstanding record in Asian stock picking and has an extensive local network with access to company executives … his proprietary research on the technology sector will also be of substantial benefit," Triple A Chairman Hans Tiedemann said in a statement.

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Tags: alpha-capital, bad-news, federal-reserve, investment-arm, investment-group, losses, size-women, slate, software-giant, uk-residents