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Stock impact report

Barings Lawsuit Over Talent ‘Raid' Ups the Ante in Private-Credit Tussle [BNN Bloomberg (Canada)]

Nomura Holdings Inc ADR American Depositary Shares (NMR) 
US:NYSE Investor Relations: nomuraholdings.com/investor
Company Research Source: BNN Bloomberg
in years” is laying bare just how fierce the competition is for experienced talent in the niche but lucrative $1.7 trillion private credit market. Corinthia, a new private-credit manager backed by Nomura Holdings Inc., hired more than 20 people from Barings earlier this month, a sizable poaching move that shocked the industry with its audacity. On Monday, Barings responded by suing Corinthia and two former employees — Ian Fowler and Kelsey Tucker — to stop the new firm from hiring more employees and soliciting Barings customers. It's also seeking damages. The talent war is heating up in private credit as the value of seasoned players grows in a booming market that continues to attract new entrants. Many money managers are trying to gain exposure to the asset class, typically by building out a strategy in-house or through acquiring another firm. Corinthia decided to take an approach not yet seen at this scale in this industry: poaching someone else's team. “This is the biggest te Show less Read more
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