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Stock impact report

Barings Sues Corinthia, Ian Fowler Over Private Credit Defection [BNN Bloomberg (Canada)]

Nomura Holdings Inc ADR American Depositary Shares (NMR) 
US:NYSE Investor Relations: nomuraholdings.com/investor
Company Research Source: BNN Bloomberg
private credit asset manager poached more than 20 employees in one of the largest team lifts at an alternative asset manager in recent years. The poaching shocked the private credit industry, which has grown to $1.7 trillion in assets under management globally. The asset class has expanded quickly as more firms seek exposure to a corner of the loan market that can be less volatile and offer higher returns, but starting a new asset manager remains difficult given the limited talent pool in the niche. Corinthia, a new private credit manager backed by Nomura Holdings Inc., officially launched last Thursday after hiring Barings employees from London and the United States focused on corporate direct lending. The lawsuit describes Corinthia's move as “one of the largest corporate raids at an asset manager in years” and alleges Fowler and Tucker misused confidential information in an effort to recruit Barings employees to the new venture. Fowler previously served as a co-head of Bari Show less Read more
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