Bernard

Russel S. Bernard appeals from the trial court’s judgment confirming an arbitration award against him. We affirm.

FACTS AND PROCEEDINGS

Respondents Howard Marks and Bruce Karsh and others formed respondent Oaktree Capital Management, L.R (Oaktree), in 1995, a real estate investment hedge fund. Oaktree established limited partnerships called “funds,” which it marketed to outside investors. A few months after Oaktree’s creation, appellant Russel S. Bernard joined it to manage its funds.

Oaktree charged its investors two types of fees: management fees and incentive fees. Oaktree calculated its management fees as a percentage of total assets under the control of each of its funds. A second fee Oaktree charged its investors was an incentive fee, also called “carried interest.” Oaktree collected an incentive fee when a particular fund reached a specified performance benchmark calibrated to encourage managers such as appellant, who received a share of the fee, to achieve superior returns for Oaktree’s investors.

In November 2005, appellant resigned from Oaktree. Shortly afterward, he announced his formation of a private equity real estate fund named Westport Capital Partners…