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Aperture Investors Hires Luke Darkow to Launch Litigation Finance Strategy 

Aperture Investors, an alternative asset manager and part of the Generali Investments platform, today announced that Luke Darkow has joined the firm to lead its new private credit Litigation Finance strategy. 

Darkow joins Aperture from Victory Park Capital, a global alternative investment manager, where he was a Principal and Portfolio Manager responsible for sourcing, analyzing, executing, and managing investments within the litigation finance asset class. Prior to Victory Park Capital, Darkow held roles at TPG Capital and Morgan Stanley. 

“With Aperture entering its next phase of growth, we see significant potential in specialty lending, particularly in litigation finance, which we believe remains a relatively underbanked asset class. Estimates suggest that the litigation finance market could double annually through 2035,” said Peter Kraus, Chief Executive Officer and Founder, Aperture Investors. “Litigation Finance is a niche, relationship-driven sector—and Luke is no tourist. His expertise in both private and public debt investments, his deep network of law firms and legal service providers, and his ability to source opportunities and raise capital will allow us to build out this unique offering at Aperture.”

Litigation Finance involves the provision of third-party capital to help finance law firms or plaintiffs pursuing legal claims in exchange for, or collateralized by, a percentage of proceeds received upon the successful resolution of legal disputes. Aperture’s Litigation Finance strategy will primarily provide structured loans to law firms backed by expected legal fee receivables from procedurally mature, settled, and/or short duration legal cases, targeting uncorrelated returns.

“I’m incredibly pleased to join Aperture and help drive the firm into new opportunities in private credit with this niche, asset-based lending strategy,” commented Darkow. “As Aperture expands its slate of strategies and products, I’m also attracted to the intellectual horsepower and best-in-class infrastructure within the broader firm.” 

About Aperture Investors 

Aperture is an alternative asset management firm offering credit and equity strategies in commingled and bespoke portfolios for institutional investors. Aperture’s mission is outperformance, and it is focused on identifying portfolio managers who it believes have a unique edge and can consistently deliver innovative, solutions-oriented investment results throughout market cycles. Since inception, Aperture has steadily grown its breadth of products, and as of August 31st, it manages approximately $4 billion. Its investment strategies are diversified across asset classes and geographies – each managed by a dedicated investment team – with distribution across North America, Europe, Middle East and Asia. 

Aperture Investors was founded in 2018 and is led by industry veteran Peter Kraus and by Generali, one of the largest global insurance and asset management providers. For more about Aperture, visit us at www.apertureinvestors.com.

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Community Spotlights

Community Spotlight: Guillermo Ruiz Medrano, Attorney, CUATRECASAS

By John Freund |

Guillermo Ruiz Medrano is a Spanish lawyer based in Barcelona, specializing in advising local and international clients on litigation finance deals and restructuring transactions, with a focus on international and cross-border deals, and engaged in the implementation of cutting-edge litigation funding structures.

Company Name and Description: CUATRECASAS - a leading multi-disciplinary Spanish law firm, providing comprehensive legal services to clients across various industries. With a strong presence in Spain, Portugal, and Latin America, among others, the firm is recognized for its innovative solutions and commitment to excellence.  

Company Website: https://www.cuatrecasas.com/en/spain/

Year Founded: 1917

Headquarters: Barcelona and Madrid (Spain).

Area of Focus: Litigation Funding and Restructuring

Member Quote: Litigation funding in Spain is experiencing a dynamic transformation, making it an exciting jurisdiction for both national and international players. With the market expanding rapidly and new regulations on the horizon, particularly for consumer cases, Spain offers a fertile ground for innovative funding solutions. This burgeoning landscape ensures that litigation funding here is not only robust but also poised for sustainable growth, making Spain a premier destination for legal investment.

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Pegasus Legal Capital Completes $74 Million Securitization to Fuel Growth

Pegasus Legal Capital, LLC ("Pegasus") (mylawfunds.com), a prominent pre-settlement legal funding company in the United States, announced today that it has successfully completed a $74 million litigation finance securitization. This achievement marks Pegasus' second securitization transaction in the asset class and another significant milestone in its capital market journey. The proceeds from this transaction will further propel Pegasus' growth across key markets in the United States.

Pegasus Managing Director, Alexander Khanas, expressed, "With the successful completion of this transaction, Pegasus will expand its business in the personal injury market while upholding its industry-leading service standards."

GreensLedge Capital Markets LLC played the role of Placement Agent for Pegasus. GreensLedge Senior Managing Director, Douglas Lipton, added, "We are delighted to continue expanding Pegasus' investor base through their second securitization issuance and assisting them in creatively developing their platform."

Headquartered in Deerfield Beach, Florida, Pegasus was founded in 2008 as a pre-settlement litigation finance company. Since its inception, the company's management team has successfully sourced, underwritten, and serviced over half a billion dollars through more than 30,000 advances. While Pegasus has traditionally focused on the New York market, it has established a strong presence in the Southeast and Texas markets as well.

Pegasus is a proud member of the American Legal Finance Association (ALFA), a national organization comprising companies that provide non-recourse funds to personal injury victims. ALFA's primary objective is to establish industry standards for transparency in legal funding transactions, ensuring upfront and clear disclosure to consumers.

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Litigation Lending Appoints Emma Colantonio as Chief Investment Officer

In a post on LinkedIn, Australian funder Litigation Lending Services (LLS) announced the promotion of Emma Colantonio to the position of Chief Investment Officer. In the announcement, LLS said that Emma’s dedication and strategic insight have been instrumental to the success of the business.

Colantonio joined LLS in 2021 as an investment manager and served in that role for two years before being promoted to senior investment manager in May 2023. Prior to joining LLS in 2021, Colantonio had also spent five years at MinterEllison as a senior associate, as well as having served as a senior legal counsel at Commonwealth Bank. 

In her own post on LinkedIn, Colantonio provided the following comment: “Excited to step into the role as Chief Investment Officer at Litigation Lending Services Limited! A big thank you to the leadership team for their trust and support. Looking forward to driving our mission forward and exploring new opportunities in litigation funding.”As LFJ reported in August of this year, Colantonio was recently appointed to the board of The Association of Litigation Funders of Australia (AALF) as a non executive director, replacing LLS’ own Stephen Conrad in that position.