Former BlackRock director files $12.4 million lawsuit over unpaid carried interest
Neal Dignum, a former director of BlackRock’s Long Term Private Capital fund, has sued the firm in New York State Supreme Court, claiming the asset manager never paid the carried-interest compensation promised in his employment package.
Neal Dignum, who served as a director in BlackRock’s Long Term Private Capital fund, has initiated a lawsuit in New York State Supreme Court seeking $12.4 million in unpaid carried-interest compensation. The filing contends that BlackRock never executed a written agreement for the profit-share component of his pay package, despite an offer letter and term sheet that outlined the terms. Dignum’s counsel, Lauren Zimmerman of Benesch Friedlander Coplan & Aronoff LLP, says the firm deliberately avoided honoring the promised compensation after courting him for months.
The complaint, currently sealed, includes details about the fund’s growth during Dignum’s tenure and argues that BlackRock’s broad employee NDA should not shield the information. Dignum is asking the court to require the company to disclose the sealed material unless it can prove the existence of trade secrets or proprietary data. BlackRock, the world’s largest asset manager, has not responded to requests for comment.
Why it matters
The case could expose BlackRock’s hidden compensation practices and set precedent for how firms handle sealed employment disputes.
In this story
