CapGen Sues LPs for Defaulting on Fund Commitments
It seems we finally have a lawsuit related to LP defaults on private equity fund commitments: CapGen Capital Advisors, a New York-based PE firm focused on the financial services sector, is alleging that both Chalice Fund LP and WK CG Investment did the illiquid deed, according to a complaint filed on March 4 in Delawar. These are very small commitments -- just $4.5 million in total -- but CapGen wants the remainder paid with interest. Read more in this client alert sent over by law firm Kirkland & Ellis (begins on page 3).
26 March 2009•1 min read
