Harbinger Capital Partners Chief Operating Officer Peter Jenson has left the hedge fund manager founded by Philip Falcone by "mutual agreement," an affiliated company said Tuesday in a securities filing.

The filing, by Harbinger Group Inc. (HRG), didn't name the reason for Jenson's departure. Harbinger Group is majority-owned by Harbinger Capital.

Jenson's departure comes as Harbinger Capital wrestles with redemptions and a controversial investment in LightSquared, a startup satellite wireless network company in which Harbinger has invested.

As a result of Jenson's departure from the hedge fund manager, he resigned from his positions as Harbinger Group's chief operating officer and director.

Jenson, 46, left Citadel Investment Group for Harbinger Capital in 2009 and was responsible for all operational activities of the funds.

Meanwhile, Harbinger Group said Tuesday it has appointed Omar Asali as acting president of the company, succeeding Falcone, who will continue to serve as chairman and chief executive.

Harbinger Capital was recently hit with investor requests to withdraw about $1 billion invested in its funds, people familiar with the situation told The Wall Street Journal in June. Harbinger told investors withdrawing money that they would be paid in part with stakes in LightSquared, the Journal said. Harbinger has shrunk to about $6 billion in assets from a peak of $26 billion in 2008, the paper said.

Besides the investment in LightSquared, which faces technical and regulatory challenges, Harbinger has acknowledged investigations by the Securities and Exchange Commission and the U.S. Attorney's office on a $113 million loan to Falcone in 2009. Falcone subsequently paid back the loan. Harbinger has said it's cooperating with the investigations.

Harbinger Capital declined to comment Tuesday on Jenson's departure. A call to Jenson's phone number at Harbinger went unanswered.

Asali, who is a managing director and head of global strategy for Harbinger Capital, was previously co-head of Goldman Sachs Group Inc's (GS) hedge-fund strategies. Before that, Asali worked in Goldman Sachs's investment-banking division, where he provided merger and acquisition and strategic advice.

Harbinger Group completed its first acquisition in January, taking a majority interest in global consumer products company Spectrum Brands Holdings Inc. (SPB). In April, it bought Old Mutual U.S. Life Holdings, Inc., a provider of annuity and life insurance products which has now been rebranded as Fidelity & Guaranty Life.

In May, Harbinger Group reported its fiscal second-quarter loss widened as higher operating and interest expenses masked sales growth.

Shares were recently down 0.2% to $6.06 after hours.

-By Amy Or, Dow Jones Newswires; 212-416-3142; amy.or@dowjones.com

--John Kell contributed to this article.

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