Litigation and arbitration funder Burford Capital generated more profit in the first half of 2017 than any full year in its history, revealing a total income rise of 130% from last June to $175.5m.
The income jump for the company, which operates in law as an alternative business structure, was a result of a booming investment income which rose by 148% to $161.6m in the same time period, the firm said.
Company chief executive Chris Bogart told Legal Business this signified litigation funding was a growing area. ‘Both law firms and clients are starving for financial solutions when it comes to litigation’, he said.
Burford chair Sir Peter Middleton highlighted the company’s $488m commitment to new investments in the first half of 2017. He added: ‘In just under eight years, Burford has grown from an £80m startup [in 2008] to become the clear industry leader.’