Venture capitalist Clayton Larcombe charged with assault as PAC Capital collapses
A high-flying venture capitalist who once boasted of managing hundreds of millions of dollars has been charged with assault.
Clayton Larcombe, the former investment manager behind PAC Capital, appeared before Sydney’s Downing Center Local Court on Friday charged with assault, according to The Australian. He was released on bail without entering a plea.
The assault charge comes at a time when Mr Larcombe’s financial affairs are unraveling on many fronts.
Corporate records seen by Australian liquidators were assigned to investment firm PAC Capital, with KPT Restructuring stepping in following moves to liquidate the company.
The developments follow mounting legal pressure, including litigation in the NSW Supreme Court by Clearwater Asset Management, which aims to wind up the business and is also suing Mr Larcombe personally.
Mr Larcombe emerged as a bold and relatively unknown figure in fund management, touting that PAC Capital would oversee $500 million in assets.
A significant part of this came from the acquisition of Clearwater, a regional Victorian financial advisory firm.
His Bellevue Hill mansion and Bowral estate are up for sale.
The assault case is still in court.
