Oaktree Capital Management, L.P. v. Bernard

Opinion

RUBIN, J.

Russel S. Bernard appeals from the trial court’s judgment confirming an arbitration award against him. We affirm.

FACTS AND PROCEEDINGS

Respondents Howard Marks and Bruce Karsh and others formed respondent Oaktree Capital Management, L.R (Oaktree), in 1995, a real estate investment hedge fund. Oaktree established limited partnerships called “funds,” which it marketed to outside investors. A few months after Oaktree’s creation, appellant Russel S. Bernard joined it to manage its funds.

Oaktree charged its investors two types of fees: management fees and incentive fees. Oaktree…