Archean

The Kentucky-based private-equity firm founder and manager John Stewart, who heads Resolute Racing, has reached an "agreement in principle" to settle a civil complaint against his MiddleGround Capital, which was sued last month by another investment company over an alleged "bad faith" refusal to pay $22 million in contractually due revenue shares. News of the in-the-works settlement was posted on the online court docket for the New York Supreme Court shortly after 5 p.m. Jan. 22. The one-page entry on the docket did not explain the terms that are being...

Editor's Note: This suit was settled in January, 2025 with no finding of wrongdoing on the part of Mr. Stewart. --2/23/2026 The Kentucky-based private-equity firm founder and manager John Stewart, whose aggressive spending and outspoken attitude have made a big splash in the global bloodstock and racing worlds since he entered the Thoroughbred business from scratch a little more than a year ago, is being sued in a New York court by an investment firm that provided initial funding for Stewart's MiddleGround Capital. That plaintiff, Archean Capital Partners, is now...