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Nicholas Takahashi and his team managed about $1.3 billion when it left the wirehouse earlier this year, but Morgan Stanley alleged the rep was breaking his non-solicitation vows.
The alternative asset manager is launching its first interval fund and serving as a core independent manager on another as it looks to develop new products.
The new lawsuit comes several weeks after the RIA acquirer dropped its claims against Lars Knudsen. The firm claimed the advisor had broken his restrictive covenants after being fired.