Randy Work, a former key executive in Lone Star Funds’ Asia operations, will have to divide his £150 million ($226 million; €210 million) fortune equally with his estranged wife after a London judge denied his attempt to use a US postnuptial agreement to limit her share to only £5 million.
Work argued that his wife Mandy Gray was only entitled to £5 million due to the terms of a postnuptial agreement negotiated in Texas. The US-born couple moved to London in 2008.
Work’s lawyers also argued that he was entitled to a greater share of the couple’s assets because he made a special contribution to the fortune through his wealth-creation skills. Work served in various roles at Lone Star from 1997 to 2009, including leading the firm’s investments in real estate and financial institutions in Japan. His wealth peaked at $300 million in cash and assets, according to reports.
However, Judge Edward Holman ruled that Work’s financial achievements were “not exceptional enough” to be considered a special contribution given that his wife made a sacrifice to raise their family, reports noted.
The case is the latest high-stakes divorce battle to make its way through British courts. In December, the ex-wife of Chris Hohn, founder of UK-based hedge fund Children’s Investment Fund, was awarded a third of the couple’s $1.5 billion marital estate in the country’s largest ever divorce case.