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Burford Capital closes new $300 million post-settlement investment fund

October 11, 2019

Burford Capital Limited (“Burford” or “the Company”), the leading global finance and investment management firm focused on law, announces the closing of the Burford Alternative Income Fund LP (“BAIF”), a new private fund focused on post-settlement investments. BAIF will invest in settled litigation matters, monetising 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 the settlement, who find it attractive to secure financing against those expected receipts.

A variety of institutional investors made commitments to BAIF in the aggregate amount of $297.25 million. BAIF’s investment period runs until 4 September 2021, with a multi-year harvest period thereafter. BAIF will pay management fees of 1.5% of invested capital, with performance fees of 10% after a 5% preferred return with a full catch-up. BAIF is the successor to Burford’s maiden post-settlement fund, which was founded in 2014. There is no investment in BAIF from Burford’s balance sheet.

Burford’s total assets under management are now $2.7 billion.

Please refer to Burford’s most recent annual report for definitions and disclaimers concerning its private fund business.

Christopher Bogart, Chief Executive Officer of Burford, said:

“We are pleased to complete our latest fundraising and to have an expanded post-settlement offering for our clients. BAIF’s investment strategy helps clients manage the frequent and significant delays that occur between the point at which parties agree a settlement and the finalisation of and payment under the settlement. Furthermore, the solution supports our aim of fulfilling client needs across the lifespan of a litigation matter’s duration, from inception through to conclusion.”

For further information, please contact:

Burford Capital Limited  
Elizabeth O’Connell, CFA, Chief Financial Officer +1 212 235 6825
Macquarie Capital (Europe) Limited – NOMAD and Joint Broker +44 (0)20 3037 2000
Jonny Allison  
Nicholas Harland  
Liberum Capital Limited – Joint Broker +44 (0)20 3100 2222
Richard Crawley  
Jamie Richards  
Numis Securities Limited – Joint Broker +44 (0)20 7260 1000
Charlie Farquhar  
Jonathan Abbott  
Montfort Communications Limited – Financial Communications for Burford Capital +44 (0)20 3021 2580
Robert Bailhache – email  

About Burford Capital

Burford Capital is the leading global finance and investment management firm focused on law. Its businesses include litigation finance and risk management, asset recovery and a wide range of legal finance and advisory activities. Burford is publicly traded on the London Stock Exchange, and it works with law firms and clients around the world from its principal offices in New York, London, Chicago, Washington, Singapore and Sydney.

For more information about Burford: www.burfordcapital.com

This release does not constitute an offer of any Burford fund. Burford Capital Investment Management LLC (“BCIM”), which acts as the fund manager of all Burford funds, is registered as an investment adviser with the U.S. Securities and Exchange Commission. The information provided herein is for informational purposes only. Past performance is not indicative of future results. The information contained herein is not, and should not be construed as, an offer to sell or the solicitation of an offer to buy any securities (including, without limitation, interests or shares in the funds). Any such offer or solicitation may be made only by means of a final confidential Private Placement Memorandum and other offering documents.