Key Takeaways
- • AlphaQuest filed a motion to dismiss a lawsuit filed by Dutch foundation Stichting QSV Beheer, characterizing the litigation as a "billionaire tantrum" by investment adviser Wiet Pot, a former Goldman Sachs partner and co-CEO of IMC Trading with estimated wealth of €2.6 billion.
- • The $2 billion quantitative hedge fund announced closure in February 2026 after three consecutive years of losses, including a 15.2% decline in 2025, leaving the fund approximately 30% below its October 2022 peak.
- • QSV alleges that founder and CEO Nigol Koulajian lost control over trading operations and breached an agreement governing repayment of the foundation's $45 million investment, seeking preferential treatment on liquidation proceeds.
- • AlphaQuest argues that QSV's investment terms do not provide the preferential recovery treatment the foundation is seeking, positioning the dismissal motion as a contractual dispute over liquidation priority rather than a substantive management failure claim.
- • The litigation centers on communications between Koulajian and Pot immediately preceding the fund's announced wind-down, raising questions about governance and investor communications during the closure process.
Summary
AlphaQuest has moved to dismiss a lawsuit filed by Dutch institutional investor Stichting QSV Beheer over the quantitative hedge fund's management and liquidation, with the fund's counsel dismissing the case as an opportunistic attempt by billionaire investor Wiet Pot to extract money beyond his contractual entitlements. The motion was filed in New York County Court on September 8, 2026, according to court filings and Bloomberg reporting.
The $2 billion quantitative hedge fund, which employed computer-driven trading models across futures in currencies, commodities, and equity and fixed-income indexes, announced its closure in February 2026 following three consecutive years of underperformance. The fund declined 15.2% in 2025 alone, resulting in losses of approximately 30% from its October 2022 peak. QSV, represented by investment adviser Pot, committed $45 million to the fund and now alleges that founder and CEO Nigol Koulajian breached their investment agreement by losing operational control over trading and by denying QSV preferential treatment during the liquidation process.
According to AlphaQuest's dismissal filing, the fund argues that QSV's original investment documentation does not contractually entitle the foundation to the preferential recovery status it is demanding. The fund's legal team characterized the lawsuit as stemming from Koulajian's refusal to meet Pot's liquidation demands, branding the action as a "tantrum by a billionaire" rather than a legitimate claims-based dispute. Pot, a former Goldman Sachs partner and ex-co-chief executive of market-making firm IMC Trading, has an estimated net worth of approximately €2.6 billion according to Dutch publication Quote.
The lawsuit specifically focuses on communications between Koulajian and Pot in the period immediately preceding AlphaQuest's announced wind-down, suggesting potential disputes over governance transparency and investor notification protocols during the fund's final operational phase. Counsel for QSV declined comment on the motion filing, while Pot could not be reached for statement.
The $2 billion quantitative hedge fund, which employed computer-driven trading models across futures in currencies, commodities, and equity and fixed-income indexes, announced its closure in February 2026 following three consecutive years of underperformance. The fund declined 15.2% in 2025 alone, resulting in losses of approximately 30% from its October 2022 peak. QSV, represented by investment adviser Pot, committed $45 million to the fund and now alleges that founder and CEO Nigol Koulajian breached their investment agreement by losing operational control over trading and by denying QSV preferential treatment during the liquidation process.
According to AlphaQuest's dismissal filing, the fund argues that QSV's original investment documentation does not contractually entitle the foundation to the preferential recovery status it is demanding. The fund's legal team characterized the lawsuit as stemming from Koulajian's refusal to meet Pot's liquidation demands, branding the action as a "tantrum by a billionaire" rather than a legitimate claims-based dispute. Pot, a former Goldman Sachs partner and ex-co-chief executive of market-making firm IMC Trading, has an estimated net worth of approximately €2.6 billion according to Dutch publication Quote.
The lawsuit specifically focuses on communications between Koulajian and Pot in the period immediately preceding AlphaQuest's announced wind-down, suggesting potential disputes over governance transparency and investor notification protocols during the fund's final operational phase. Counsel for QSV declined comment on the motion filing, while Pot could not be reached for statement.
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