(Bloomberg) -- Corinthia Global Management, the upstart private credit manager that poached more than 20 employees from Barings in March, has asked a judge...
-- Corinthia Global Management, the upstart private credit manager that poached more than 20 employees from Barings in March, has asked a judge to dismiss the asset manager ’s lawsuit against it. Corinthia argues that Barings hasn’t put forth any facts to show it has suffered the harms it claims to have incurred from the team lift, according to a Friday filing in a North Carolina court.
This agreement obliged Corinthia to use reasonable best efforts to have the former Barings employees certify they had returned any confidential information, would not use any confidential information and would honor any non-solicitation and notice periods in the employees’ contracts.
Private credit has grown rapidly to $1.7 trillion of assets under management globally and the competition for talent is hot as many investment firms try to break into the space either through buying other managers or hiring their employees.
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