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Litigation-Financing Fund Raises a Record $130M in London IPO

Posted Oct 16, 2009 3:11 PM CDT
By Martha Neil

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An initial public offering for the Burford Capital litigation-financing fund has raised $130 million through the sale of 80 million shares on London's junior exchange.

Participation by large institutional investors accounted for much of the record-breaking amount raised by a litigation fund, reports the Am Law Litigation Daily.

Invesco UK snapped up 45 percent of the shares and Baillie Gifford and Fidelity International and Baillie Gifford each purchased 10 percent.

Burford principal Christopher Bogart says the company plans to finance United States corporate litigation matters in the $5 million to $15 million range, on both the plaintiff and defense side, as well as international arbitration, the law blog reports. The fund isn't now disclosing which cases, exactly, it plans to finance.

Earlier related coverage:

ABAJournal.com: "Dismal Economy? Not for Companies Funding Corporate Litigation"

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