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...
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