Richard Pease is suing Henderson as he alleges it breached the terms of his contract

James Nickerson
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Peace took the European Special Situations Fund with him when he left Henderson (Source: Getty)

Star fund manager Richard Pease is suing his former fund management house Henderson, alleging it broke the terms of his contract.

Pease claims that Henderson breached his contract by withholding some payments when he departed the company.

He alleges that Henderson "failed and refused" to pay him £2.7m that he earned between 2012 and 2014.

The High Court claim shows the total fees that Pease accumulated while he was running three portfolios, including the European Special Situations fund, his main fund.

Under his contract he was due to receive half the management fees paid by investors, according to the Sunday Times. Pease's share reached nearly £14m between 2009 and 2015, according to the court papers.

Pease, who has experience ranging from Windsor Investment Management and Jupiter Asset Management, announced he was leaving Henderson Global Investors in 2014 for Crux Asset Management, taking the European Special Situations fund with him.

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