Investors in an embattled fund named after a dead pirate have had their shares suspended for two years and recently seen millions in losses. Now they face a new sting: potentially owing more performance fees to a company run by the fund’s boss.
More than $8.3 million in performance fees have so far been paid by the Henry Morgan fund to the investment management firm John Bridgeman since 2017.
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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
