Barings lawsuit over talent ‘raid’ ups the ante in private credit tussle

Corinthia hired more than 20 people from Barings earlier this month. — Bloomberg

NEW YORK: A legal brawl between Barings and upstart Corinthia Global Management over “one of the largest corporate raids at an asset manager in years” is laying bare just how fierce the competition is for experienced talent in the niche but lucrative US$1.7 trillion private credit market.

Corinthia, a new private-credit manager backed by Nomura Holdings Inc, hired more than 20 people from Barings earlier this month, a sizeable poaching move that shocked the industry with its audacity.