Fund Manager Sues Finance Firm For $9.2M Over Fees

Law360, London (June 3, 2021, 3:49 PM BST) -- London-based investment firm Covalis Capital LLP is suing a Brazilian financial company for $9.2 million for allegedly failing to pay two performance fees and stealing confidential investment strategies.

Covalis told the High Court in an April 16 claim, which has now been made public, that Banco BTG Pactual SA owes it at least $9.2 million for two unpaid performance fees tied to a contract under which the U.K. company agreed to operate a fund for the Brazilian firm.

The contract specified that Covalis would be paid a performance fee of up to 15% of what the fund earned. Banco BTG paid the...

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