Singer’s Elliott Escalates Battle With Texas Private Equity Firm

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.