Bery, JPMorgan reach amicable conclusion
JPMorgan and Varun Bery have jointly announced that they have reached an amicable resolution to their recent dispute, which will result in the latter providing private equity consultancy services to JPMorgan.
Six months ago, Bery, the former MD and co-founder of TVG Capital Partners, and later co-head of JPMorgan's private equity investment arm in Asia Pacific after the latter's buyout of his firm, was said to be setting up to sue the bank, claiming some $30.8 million in alleged lost income, wrongful dismissal and contravention of agreements to spin out his team.
Going forward, the statement says that Mr Bery will continue his successful track record to operate as Managing Director of TVG Capital Partners of Hong Kong, and also act as a consultant to JP Morgan on matters related to private equity in Asia.
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