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Tue 4 Oct 2016 03:31 PM

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Bahrain's Investcorp says unit sued by New York's Kortright Capital

Move comes after Investcorp Investment Advisors partnered with Kortright in July 2013 to offer 'stable growth capital'

Bahrain's Investcorp says unit sued by New York's Kortright Capital

Bahrain-based private equity investor Investcorp said on Tuesday that a subsidiary was being sued by New York-based investment manager Kortright Capital Partners.

The subsidiary, Investcorp Investment Advisors, partnered with Kortright in July 2013 in order to provide Kortright with "stable growth capital" while "offering Investcorp and its investors access to a specialised event equity strategy", according to information on Investcorp's website.

In its brief statement to the Bahrain bourse on Tuesday, Investcorp did not give any details of the suit but said: "We regard the lawsuit to be groundless and we will defend against the lawsuit vigorously."

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