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Fund manager launches £900k claim against hedge fund

CityWire – Former Aberdeen Asset Management fund manager Stephen Ilott has launched legal action against hedge fund Bluecrest Capital Management for a £878,000 share of its profits after he was dismissed from the firm.

Ilott claimed against Bluecrest and three of its fund managers for a share of the profits from its fixed interest investment arm Alignment Investors. Bluecrest fund managers Richard Williams, George Cooper, Andrew McCaffery and Ilott verbally agreed to form a partnership to establish Alignment Investors and share 40% of the profits from the business between them in April 2008, Illot said in court documents.

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