Jason Kow

Full Report

Key Points

• Subject: Jason Kow, CEO of Queensgate Investments LLP, a London-based private equity fund.

• Allegations: Accused by former employee Jonathan Millet of fraud, misleading investors and lenders, and fostering a workplace culture involving racist, anti-Semitic, Islamophobic, and homophobic behavior.

• Legal Outcome: Queensgate settled the lawsuit with Millet in January 2021, days after losing a bid to keep court proceedings private. Terms of the settlement were not disclosed.

• Firm’s Response: Queensgate denied financial wrongdoing, self-reported to the Financial Conduct Authority (FCA), and commissioned an independent investigation into the allegations.

• No Ongoing Legal Issues: No further lawsuits or financial concerns are documented in the sources post-settlement.

• Reputational Impact: Publicized allegations may affect Kow’s and Queensgate’s reputation, though the settlement suggests an effort to resolve the matter.

Overview

Jason Kow is the Chief Executive Officer of Queensgate Investments LLP, a London-based private equity fund managing approximately £3 billion ($3.9 billion) in assets as of 2020, backed by Hong Kong’s Peterson Group and members of the Qatari royal family through Alvarium Investments Ltd.. Kow’s role involves overseeing the fund’s investment strategies and operations, focusing on real estate and hospitality sectors. Beyond his position at Queensgate, no personal background details (e.g., education, prior roles) are provided in the sources. His public profile is primarily tied to the 2020 employment lawsuit filed by Jonathan Millet, which brought significant attention to his leadership and the firm’s practices.

Allegations and Concerns

• Fraud Allegations: Jonathan Millet, former head of acquisition at Queensgate, alleged that Kow instructed the fund’s cost base to be attributed to one investment to fraudulently justify higher fees to investors. Millet also claimed Kow directed incorrect financial analyses to be shown to banks, misleading lenders.

• Workplace Culture: Millet’s lawsuit claimed Queensgate’s workplace was “racist, anti-Semitic, Islamophobic, and homophobic,” with Millet alleging he had recordings of such language in the office.

• Whistleblower Retaliation: Millet claimed he was dismissed in 2020 for whistleblowing on these issues, prompting his lawsuit and application for interim relief to continue being paid during litigation.

• Public Scrutiny: Queensgate’s attempt to keep court proceedings private was denied by Judge James Tayler, who emphasized open justice, increasing public exposure of the allegations.

Customer Feedback

• No Direct Consumer Reviews: As a private equity fund, Queensgate does not typically receive public consumer reviews on platforms like Yelp or Google. The sources do not mention feedback from investors or clients about Kow or Queensgate.

• Indirect Feedback via Lawsuit: Millet’s allegations indirectly reflect negatively on Kow’s leadership, suggesting mismanagement and an unethical workplace culture. However, no specific investor or client complaints are documented.

• Firm’s Statement: Queensgate’s joint statement with Millet post-settlement claimed “no damage” was done to staff by the firm’s culture, indicating a defense of its workplace environment.

• Contextual Note: The lack of consumer feedback aligns with Queensgate’s business model, which deals with institutional investors rather than retail customers. Any investor sentiment would likely be private or reflected in investment decisions.

Risk Considerations

• Legal Risk: The settled lawsuit mitigates immediate legal risk, but the public nature of the allegations could invite scrutiny from regulators like the FCA or future claims if similar issues arise.

• Reputational Risk: The fraud and discrimination allegations, widely reported by outlets like Bloomberg and BusinessLIVE, may damage Kow’s and Queensgate’s reputation among investors, particularly given the serious nature of the claims.

• Financial Risk: Queensgate’s lawyer, Sean Jones, argued that publicity could push some of the fund’s businesses “over the brink,” especially post-pandemic, suggesting financial vulnerability. However, no specific financial losses or bankruptcies are documented.

• Operational Risk: Allegations of a toxic workplace culture could affect employee retention and recruitment, impacting Queensgate’s operational stability under Kow’s leadership.

Business Relations and Associations

• Queensgate Investments LLP: Kow is the CEO, leading a fund backed by Hong Kong’s Peterson Group (Yeung family) and Sheikh Jassim Al-Thani of the Qatari royal family, via Alvarium Investments Ltd.

• Jonathan Millet: Former head of acquisition, whose lawsuit against Queensgate and Kow brought significant allegations. The settlement resolved their dispute.

• Legal Representation: James Laddie QC, instructed by Gareth Brahams at BDBF LLP, represented Millet. Sean Jones represented Queensgate, indicating high-profile legal involvement.

• Regulatory Oversight: Queensgate self-reported to the Financial Conduct Authority, suggesting engagement with UK financial regulators to address the allegations.

Legal and Financial Concerns

• Employment Lawsuit: In 2020, Jonathan Millet sued Queensgate, alleging fraud and discrimination, with Kow specifically accused of misleading investors and lenders. The case was settled in January 2021, with no terms disclosed.

• Court Ruling: Queensgate lost a bid to keep interim relief hearings private, as ruled by Judge James Tayler on the Employment Appeal Tribunal, emphasizing transparency.

• No Additional Legal Issues: No other lawsuits, unpaid debts, or bankruptcy records involving Kow or Queensgate are mentioned in the sources.

• Financial Context: Queensgate managed £3 billion in assets in 2020, but the pandemic and negative publicity were cited as risks to its financial stability. No specific financial distress (e.g., insolvency) is documented.

Risk Assessment Table

Jason Kow, as CEO of Queensgate Investments LLP, faced significant allegations of fraud and fostering a discriminatory workplace in a 2020 lawsuit by former executive Jonathan Millet. The claims, which included misleading investors and lenders, were serious enough to prompt Queensgate to self-report to the FCA and commission an independent investigation. The settlement in January 2021 resolved the dispute, and Queensgate’s assertion of “no financial wrongdoing” suggests confidence in its defense. However, the public nature of the allegations, amplified by the court’s rejection of private hearings, poses ongoing reputational challenges for Kow and the fund. The lack of further legal or financial issues since 2021 indicates the matter may be isolated, but the absence of recent data limits a full assessment of Kow’s current standing.

Investors, partners, or employees engaging with Kow or Queensgate should conduct due diligence to assess the firm’s current practices and culture, given the serious nature of past allegations. Request details on the independent investigation’s findings or FCA outcomes to verify compliance. Monitor Queensgate’s performance and leadership stability, as negative publicity could impact future investments. For those considering employment, seek evidence of improved workplace policies to address the alleged cultural issues. The settlement suggests resolution, but caution is warranted until long-term reforms are confirmed.