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Henderson in court battle with infrastructure fund investors

Henderson Global Investors says it will “vigorously defend” itself in the courts after it was served with legal proceedings by investors in one of its infrastructure funds.

The “majority” of investors in the Henderson PFI Secondary Fund II have sought action over “alleged breach of mandate and misrepresentation”.

Two subsidiaries, Henderson Equity Partners (GP) Limited and Henderson Equity Partners Limited, were served by investors.

In a market statement the asset manager says: “All the claimants are sophisticated investors. We have considered these complaints carefully. We are confident we have no legal liability to investors in this fund.”

Issues were first raised in the 2010 half-year report, when Henderson was first threatened with litigation.

At the time, the asset manager itself claimed performance since inception had been “below expectations”.

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