PE Firm Founder Wins $18M In Carried Interest Contract Row

Law360, New York (November 27, 2012, 9:13 PM EST) -- A New York state judge ruled Monday that the co-founder of Black Diamond Capital Management LLC is contractually entitled to the final part of the $17.5 million he sought in carried interest on investments he made before leaving to form a rival private equity firm.

After years of haggling over the terms of an agreement the Black Diamond co-founders struck before they parted ways, James J. Zenni Jr.'s interpretation of the document was more faithful to the straightforward language of the agreement, which set out a...
To view the full article, register now.