BALANCE LEGAL CAPITAL LLP, a London-based provider of litigation and arbitration finance, today announced it has raised a further GBP 130M from 8 institutional investors in the first close for a new UK fund, bringing Balance’s total AUM to over GBP 250M. Balance is targeting Q2 2022 for a second and final close.
The investors in the new fund include repeat investors from Balance’s prior vehicles plus further global institutional investors located across the UK, US, Switzerland, the Nordics, and Australia. In addition to its discretionary capital pools, Balance has direct access to significant further co-investment capital from its investors, enabling it to fund the largest litigation budgets.
As ever, Balance has delegated authority over its litigation investment decisions. Balance will use the new funds to continue to invest in commercial disputes and class actions with a focus on disputes in common law jurisdictions (ex. USA), particularly the UK and Australia. Balance invests across all sectors and commercial claim types including contract, tort, shareholder disputes, joint venture disputes, competition, class actions and more.
Robert Rothkopf, Managing Partner of Balance Legal Capital, said “We are thrilled to announce the launch of our new fund, which will further enhance our ability to support claimants and law firms in litigation proceedings. This is the second multi-investor fund we have launched in two years and demonstrates the strong demand for our capital. We’re grateful to our investors for continuing to back us in our new fund, to our high-calibre team at Balance, and to the law firms, barristers and insolvency practitioners we partner with to obtain justice for businesses and individuals.”
Balance Legal Capital LLP was advised on the establishment of its new fund by Herbert Smith Freehills LLP, London.
About Balance Legal Capital
Balance Legal Capital was founded in 2015 by Robert Rothkopf (former Herbert Smith Freehills litigator) and Simon Burnett (a former Freshfields litigator). Its investment committee includes Lord David Gold (former global senior partner of Herbert Smith and head of disputes) and Ian Terry (former managing partner of Freshfields and global head of disputes). Fraser Shepherd (former litigation partner at Gilbert + Tobin, Sydney), Donny Surtani (former litigation partner at Herbert Smith Freehills) and Nick Gardner (former head of Intellectual Property Litigation at Herbert Smith) are senior advisers to the investment committee.
Example cases funded by Balance include (1) the audit negligence claim by the Patisserie Valerie Group (in liquidation) against Grant Thornton UK LLP (solicitors – Mishcon de Reya LLP); and (2) group proceedings for vehicle owner clients of Leigh Day in the emissions claims against BMW, Vauxhall, Peugeot, Citroen for selling diesel vehicles allegedly containing unlawful emissions defeat devices.
Balance Legal Capital LLP is a member of the Association of Litigation Funders of England and Wales (ALF) where Robert Rothkopf is a board member. Balance Legal Capital LLP is also a founder member of the Association of Litigation Funders of Australia (ALFA) where Simon Burnett is a board member. Balance Legal Capital LLP is authorised and regulated by the UK’s Financial Conduct Authority and by the Australian Securities & Investments Commission.
