According to Dealbreaker, thus spake Phil Falcone:
“Blue Line was launched in April 2009 with the goal of achieving superior, absolute returns utilizing a fundamental, bottom-up investment philosophy. Through September 30, 2011, our year-to-date performance for the Onshore Fund and the Offshore Fund is 11.61% and 11.38%, respectively, bringing our cumulative performance to 106.44% and 112.94%, respectively.”
[...]
“As you are aware from the Fund’s offering memorandum, the Fund is designed to begin winding up on April 1, 2012. In anticipation of such wind-up, to allow for a prudent disposition of assets in a manner that we believe allows us to best capitalize on the expected value of these assets and in order to protect the interests of all current investors in the Fund, we have determined to suspend voluntary redemptions effective December 30, 2011 (for the Offshore Fund, such suspension was approved by its Board of Directors).”
Read more at http://dealbreaker.com/2011/12/harbinger-capital-suspends-redemptions-in-credit-distressed-blueline-fund/
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