Raymond J. Harbert
| Raymond J. Harbert | |
|---|---|
| Born |
Raymond Jones Harbert December 1958 Birmingham, Alabama |
| Residence | Mountain Brook, Alabama, U.S. |
| Alma mater | Auburn University |
| Occupation | Investor, philanthropist |
| Employer | Harbert Management Corporation |
| Title | Chairman and CEO |
| Spouse(s) | Kathryn Dunn |
| Children | 3 |
| Parent(s) |
John M. Harbert Marguerite Harbert |
| Relatives | Bill L. Harbert (paternal uncle) |
Raymond Jones Harbert (born December 1958) is an American business executive, investor and philanthropist from Alabama. He is the founder, Chairman and Chief Executive Officer of Harbert Management Corporation (HMC), a global private investment firm with US$5.9 billion of assets under management. He donated US$25 million to Auburn University as part of a US$40 million donation pledge.
Raymond Jones Harbert was born in December 1958 and grew up in Birmingham, Alabama. His father, John M. Harbert, founded Harbert Corporation, a large multinational construction company, in 1949. His mother, Marguerite Harbert, was a billionaire philanthropist. He has a brother, John M. Harbert IV, and a sister, Marguerite H. Gray.
He graduated from Auburn University, where he received a Bachelor of Science in Industrial Management in 1982.
Harbert was appointed as Vice President of Business Development at Harbert International, a subsidiary of his father's company, Harbert Corporation, in 1982. Later, he was appointed as the President of its real estate subsidiary, Harbert Properties Corporation. From 1988 to 1990, he served as the Vice President of Harbert Corporation, with responsibility for all investment activities. In 1990, he was elected as its Chief Executive Officer, taking over all executive responsibilities from his father.
In 1993, Harbert borrowed US$3 million from his inheritance and founded Harbert Management Corporation, a global investment management firm headquartered in Birmingham. Over the next 20 years, HMC expanded and grew, opening offices around the US and Europe. The firm manages money for a wide variety of clients ranging from public endowments and foundations to high net worth individuals and family offices. HMC invests in real estate, energy, private equity and debt, venture capital, and the public markets.
In 2000, Harbert launched what became Harbinger Capital Partners, a hedge fund managed by Philip Falcone. After a strong 10-year run under the HMC umbrella, Falcone became the majority owner of Harbinger, though Harbert remained a personal investor.
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