Monday, 22 December 2014
Last updated 6 hours ago
Dec 17 2007 | 7:26am ET
James Jundt refuses to give a former hedge fund manager in his employ what a court says he should. So the court has decided to take away his business.
A Minnesota judge turned over Jundt Associates, which manages investments for corporate pension plans, to a third-party after Jundt and his son, Marcus, failed to pay Paul Bottum the $2.3 million in unpaid bonuses and interest the court ruled it owed.
Bottum said he was promised a $1 million annual bonus for beating the Standard & Poor’s 500 Index while working at Jundt’s former hedge fund, Southway Partners. He did so twice, but said he only received $175,000.
In October, Jundt—the former owner of the National Football League’s Minnesota Vikings—said in a Securities and Exchange Commission filing that Jundt Associates managed almost $120 million. Jundt has also put his Lake Minnetonka mansion on the block for more than $50 million.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.