People moves 19 Mar, 2024
The asset manager lost more than 20 private credit specialists to the rival and had to pause some of its investments as a result.
By Margaryta Kirakosian
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Barings is suing Corinthia Global Management followingan exodus of more than 20 private credit specialists earlier this month.
The asset manager has filed a temporary restraining order and preliminary injunction against Corinthia in a North Carolina court, as well as two of its former employees, co-head of private finance group Ian Fowler and its former head of operations Kelsey Tucker.
In the lawsuit, Barings outlined that Fowler was trying to establish a new private credit operation for Corinthia using Barings’ processes and know-how and approaching its clients.
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