Carried interest payments can make for a nice annuity for executives long after they leave a private equity shop. They can also be a source of nasty disputes.
Such is the case at Pacific Corporate Group, a La Jolla, Calif.-based private equity advisory firm, where a former executive has filed a lawsuit claiming he hasn’t been paid all of the investment gains owed him. The firm has counter-sued, arguing it should not have to pay someone whom it believes engaged in an “illegal kick-back scheme,” according to PCG’s cross-complaint.
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