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Harbinger Capital Partners Comments on Calpine Corp. Registration Statement

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  Published in Stocks and Investing on Friday, January 16th 2009 at 14:15 GMT, Last Modified on 2009-01-16 14:16:12 by Market Wire
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NEW YORK--([ BUSINESS WIRE ])--Harbinger Capital Partners® Funds commented on today's announcement by Calpine Corporation (NYSE:CPN) that it filed an amendment to its Form S-3 Registration Statement with the Securities and Exchange Commission.

The filing is part of Calpine's obligations under its successful emergence from bankruptcy protection in January 2008. The shares being registered were previously issued in connection with Calpine's reorganization. No new shares are being issued or sold by Calpine under the registration statement.

Harbinger, a major Calpine shareholder, remains committed to its investment.

"We are believers in Calpine's business model and like their long-term prospects," said Harbinger Capital Partners Senior Managing Director Philip A. Falcone. "We are a committed shareholder and may look to add to our position over time."

About Harbinger

Harbinger Capital Partners was founded in 2001 and is led by its Co-Founder and Chief Investment Officer, Philip Falcone, who has over 20 years of investment experience across an array of market cycles. The Harbinger Team is disciplined and value oriented, focusing on alpha generating ideas that are uncorrelated to investment cycles. The firm combines a flexible, innovative approach to uncovering opportunity with a thorough investment process. Each investment undergoes rigorous fundamental research, extensive vetting, and seeks an identifiable catalyst for value realization. Harbinger regards risk management as a critical component of the investment process and actively manages risk at three levels: portfolio, position and operations. The firm offers several strategies which emphasize different opportunities, each based on the same time-tested fundamental investment and risk management processes.