IFM settles UK sexual harassment case

The $120 billion industry super-owned fund manager has paid roughly $490,000 to settle a sexual harassment case in the UK.

Nathalie Abildgaard, an associate on IFM's infrastructure equity team filed a claim with the UK Employment Tribunal earlier this year, alleging sexual harassment against executive director Frederic Michel-Verdier.

IFM today confirmed the two parties have settled for £270,000 or roughly $493,000.

"IFM Investors and a former employee, Nathalie Abildgaard, have reached a settlement agreement in relation to Ms Abildgaard's Employment Tribunal claim including her claims for sexual harassment, constructive dismissal and victimisation," IFM said.

"Both parties believe the terms of the settlement to be fair, and importantly, do not restrict Ms. Abildgaard from discussing the case."

"All legal proceedings will now cease."

Abildgaard left IFM and is a trustee at Legal Aid for Business Diversity. Michel-Verdier is still with the business.

Abildgaard's January claim said Michel-Verdier made sexual comments to her in a Madrid nightclub last year and invited her to his room, the Australian Financial Review reported.

Read more: IFMFrederic Michel-VerdierLegal Aid for Business DiversityNatalie Abildgaard
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