Burford Capital Limited $300m post-settlement investment fund close (3539V)

TIDMBUR

RNS Number : 3539V

Burford Capital Limited

08 April 2019

8 April 2019

BURFORD CAPITAL CLOSES NEW $300 MILLION POST-SETTLEMENT INVESTMENT FUND

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      [phone] 
 
   Macquarie Capital (Europe) Limited - NOMAD             [phone] 
    and Joint Broker                                       2000 
   Jonny Allison 
   Nicholas Harland 
 
                                                          [phone] 
   Liberum Capital Limited - Joint Broker                  2222 
   Richard Crawley 
   Jamie Richards 
 
                                                          [phone] 
   Numis Securities Limited - Joint Broker                 1000 
   Charlie Farquhar 
   Jonathan Abbott 
 
   Montfort Communications Limited - Financial            [phone] 
    Communications                                         7908 
   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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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April 08, 2019 04:30 ET (08:30 GMT)