Former head of vast hedge fund tries a third act
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New York
PHILIP Falcone, the brash hedge fund titan who once managed US$26 billion before stumbling and running afoul of regulators, is pressing ahead on a new comeback effort, his second.
His latest investment platform is a publicly traded company with US$800 million in assets called HC2 Holdings. It has bought a couple of midsize businesses. For Mr Falcone, the goal is to make smart acquisitions and hit home runs with some of the smaller earlier-stage ventures, much as he once did by buying bonds of companies in financial distress.
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