Pensions & Investments – Philip Falcone’s hedge fund, having taken out a loan earlier this year at an effective annual interest rate of 24%, has found a new source of financing: the money management arm of billionaire Michael Dell.
Harbinger Capital Partners Master Fund I Ltd. entered into a note purchase agreement on June 14 with a credit fund run by MSDC Management LP, according to a June 18 regulatory filing. MSDC Management is an investment adviser backed by MSD Capital LP, the private investment firm for Mr. Dell and his family.
