Skip to content
Subscriber Only

‘Captain Magic’ Clashes With Tycoon Over $5 Billion Hedge Fund

  • Tyndaris Investments suing Samathur Li Kin-kan for $3 million
  • Li has countersued in London, arguing the fund was mismanaged
Raffaele Costa
Raffaele CostaPhotographer: Andreas Rentz/Getty Images
Updated on

Raffaele Costa’s two-month business relationship with an Asian real-estate tycoon has sparked a two-year fight in the London courts following claims that the hedge-fund manager exaggerated his supercomputer’s trading abilities.

Costa’s Tyndaris Investments is suing Samathur Li Kin-kan for $3 million of unpaid fees for managing his money, according to court documents. Li’s investment company is counter-suing for $23 million claiming that Costa, a former founding partner at rival GLG Partners, overpromised what he could deliver with the technology used to make algorithm-driven trades, which lost money.