Paul Singer’s Elliott Investment Management escalated a legal fight with a Texas-based private equity firm it has accused of charging excessive expenses.
Stronghold Investment Management is being accused of improperly overcharging expenses to oil and gas-focused private equity funds that Florida-based Elliott had invested in and refusing to liquidate two of the pools in breach of an earlier agreement, according to a lawsuit made public Wednesday in Delaware Chancery Court. Stronghold has continued acquiring assets and ran up “excessive expenses,” Elliott alleged.
In earlier court filings, Stronghold has denied that it overcharged Elliott and has