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Burford Capital Ltd - New York- and London-based litigation finance - Closes USD350 million Burford Alternative Income Fund II LP, focused on post-settlement investments. "BAIF II will invest in settled litigation matters, monetizing a claimant's settlement and other associated legal receivables. The solution serves to meet the needs of law firms awaiting payment of their fees and clients eager to release cash from a settlement, who find it attractive to secure financing against those expected receipts," Burford says. Along with USD360 million bond issue and a USD360 million pre-settlement investment fund, Burford has raised over USD1 billion in past three months to "fund the further growth of its business".
Current stock price: 721.50 pence, down 4.1% on Monday
12-month change: down 7.4%
By Eric Cunha; ericcunha@alliancenews.com
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