Hedge Funds

Elliott Management sues former manager in startup

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Renowned vulture investment firm Elliott Management has sued Mark Brodsky, a former senior portfolio manager and member of its management committee, for violating his termination agreement as he moves to set up his own fund firm.

Brodsky left Elliott in early March and has since then been preparing to launch Aurelius Capital Management, which will be based in Greenwich, Conn., and focus on distressed investments. His partner in the venture is Adam Stanislavsky of John A. Levin & Co.

In its complaint, filed in New York Supreme Court on July 29, Elliott accuses Brodsky of violating his termination