Investor group launches lawsuit against H2O Asset Management

€700m of losses

An investor group has launched a lawsuit against H2O Asset Management and others over claims that its members had lost €717m due to its investment in illiquid assets.

Collectif Porteurs H2O, which represents over 6,000 investors, argued the French asset manager, as well as its former owner Natixis Investment Managers, auditor KPMG and custodian CACEIS, are jointly liable for the losses investors suffered. The lawsuit was launched in the Paris Commercial Court yesterday (20 December) with the support of Deminor Litigation Funding, which helps companies and investors monetise their legal claims. H2O AM makes further cuts to side pocket fund valuations The group has "collected evidence demonstrating the responsibility of H2O's companies, but also t...