Richard Handler’s Leucadia National Corp. (LUK) added $253 million to its investment in Philip Falcone’s Harbinger Group (HRG) Inc., which owns businesses from consumer goods to insurance. Leucadia agreed to buy 23 million preferred securities in Harbinger Group from Falcone’s hedge funds for $11 apiece, Harbinger Group said today in a statement. That brings Leucadia’s total disclosed holding including common shares to $497 million, based on today’s closing price. Falcone, 51, is focused on building his publicly traded Harbinger Group after reaching a settlement with U.S. regulators that bars him from the hedge-fund industry. His Harbinger Capital Partners hedge funds are working to meet redemption requests as part of the August accord with the Securities and Exchange Commission. Falcone said in the statement that he’s pleased with the investment and called the two firms “a great fit.” [Bloomberg]

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Comments (8)

  1. Posted by gab | March 18, 2014 at 6:24 PM

    A lot of people think Dick Handler is a really smart guy. It will be fascinating to see how this one turns out.

  2. Posted by yatak odası | March 18, 2014 at 6:28 PM

    I see it as a wise man Dick Handler. A successful man.

  3. Posted by guest | March 18, 2014 at 7:48 PM

    I'm thinking resell.The guy sure knows how to put lipstick on a pig.

    -DH

  4. Posted by Pissed p | March 18, 2014 at 8:14 PM

    He should banned from planet earth. And his fuck ugly wife

  5. Posted by العاب كوافير | March 20, 2014 at 7:54 PM

    nice poste

  6. Posted by San Diego Attorney | March 21, 2014 at 1:13 AM

    Wow, $253 million word of investment. Let's hope to see some real growth of Philip Falcone’s Harbinger Group (HRG) Inc.

  7. Posted by Markham Law Firm | March 21, 2014 at 1:15 AM

    This type of investment shows that Richard Handler is serious with what he's doing. Let's see what his efforts and investments bring ahead. I'm sure he knows what he has to do in terms of all the business laws and regulations. Good luck.

  8. Posted by MacCBOE | March 22, 2014 at 12:05 AM

    How is Dick Handler related to Chelsea Handler?