Former Vikings Owner Fails To Pay Hedge Fund Manager

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.

RELATED STORY: 

Hedge Fund Manager to Get Paid, Thanks to Judge


In Depth

Q&A: Filippo Pignatti Morano On The Ultimate Alternative Investment...Classic Cars

Jan 29 2015 | 12:37pm ET

In 2011, Filippo Pignatti Morano launched a fund to invest in classic cars. FINalternatives...

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

Five Tips For Successfully Marketing Your Hedge Fund

Jan 30 2015 | 9:14am ET

When it comes to the hedge fund industry, the notion of “build it and it will...

 

Editor's Note