Sovereign Wealth Fund Bets on Litigation Finance in $667M Burford Deal
"Burford has reached the level, if you will, of the highest form of institutional capital on the planet,” said CEO Christopher Bogart.
December 19, 2018 at 03:06 PM
3 minute read
The original version of this story was published on The American Lawyer
Burford Capital LLC is getting some serious money from a serious source.
The litigation finance firm Wednesday said it had secured a commitment of up to $667 million from an undisclosed sovereign wealth fund. The publicly traded company also said it had raised $300 million from more traditional investors for a new litigation finance fund.
Burford CEO Christopher Bogart said the money, combined with more than $630 million from the firm's own balance sheet, solidifies the company's long-term capital needs and also proves that some of the world's most sophisticated investors are buying into the idea of betting on lawsuits.
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