Brown Rudnick advises on £100m litigation funding partnership between North Wall Capital and PGMBM

Brown Rudnick advises on £100m litigation funding partnership between North Wall Capital and PGMBM

International law firm Brown Rudnick has advised alternative investment firm North Wall Capital on a £100m litigation funding partnership with PGMBM, a law firm focused on environmental, social and corporate governance cases. The investment will be used by PGMBM to address the growing demand from consumers and other victims of injustice to seek recourse against corporates. Fabian Chrobog, Founder and Chief Investment Officer of North Wall Capital said: “We are thrilled to announce this partnership with PGMBM as part of our ESG-focused legal assets strategy. We are incredibly grateful to Elena and the litigation funding team at Brown Rudnick for advising on this significant deal.” Elena Rey, Partner at Brown Rudnick who led the deal team said: “This deal is thought to be the largest investment in a UK claimant law firm to date, strengthening Brown Rudnick’s leadership as the go-to advisor for litigation funding deals. This was a complex structure, which included a framework for the type of cases that this investment can be used to fund. We are delighted to have advised North Wall on this significant component of their ESG strategy.” As well as Elena Rey, the Brown Rudnick deal team included Counsel Tristan Dollie and Associates Natalie Grundy and Reena Patel. Brown Rudnick is the go-to law firm for litigation funding deals, thanks to their deep understanding of the industry and experience in structuring innovative and complex deals. In April 2021, Brown Rudnick advised on the multimillion-dollar funding agreement for a legal claim against social media giant TikTok and its parent company ByteDance. In November 2020, Brown Rudnick launched the Litigation Funding Working Group, which now has over 90 members to develop model documents. In May 2022, Brown Rudnick hosted London’s first ever Litigation Funding Conference, attended by over 300 funders, lawyers, brokers, investors and other entities from the litigation funding eco-system. London-based North Wall Capital provides private capital to Western European special situations and manages several funds on behalf of global institutional investors. This investment brings the total invested by North Wall in PGMBM to £150million. In March 2021, North Wall Capital and PGMBM announced a £45m funding partnership. PGMBM is a partnership between British, American, Brazilian, and Dutch lawyers passionate about championing justice for the victims of wrongdoing by large corporations. This month, the firm secured a landmark, unanimous judgment from the Court of Appeal that allows over 200,000 victims of the Mariana Dam disaster, Brazil’s worst ever environmental disaster, to seek redress against the world’s largest mining company, BHP, in the Courts of England and Wales. The firm is at the cutting edge of international consumer claims, including historic settlements on behalf of over 15,000 claimants in the Volkswagen NOx Emissions Group Litigation in May 2022 and 16,000 victims of the British Airways Data Breach in 2021. About Brown Rudnick LLP Brown Rudnick is an international law firm that serves clients around the world from offices in key financial centers across the United States and Europe. We combine ingenuity with experience to achieve great outcomes for our clients. We deliver partner-driven service; we incentivize our lawyers to collaborate in the client’s best interest; and we put excellence before scale, focusing on industry-driven, client-facing practices where we are recognized leaders.
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New North Litigation Capital Launches, Backed by £50 Million in Senior Secured Financing from Pollen Street Capital

By John Freund |

Pollen Street Capital ("Pollen Street") today announces a new senior secured credit facility of up to £50 million to New North Litigation Capital (“New North”). New North is a commercial litigation finance company and a direct subsidiary of Capital Law, a Cardiff based law firm founded in 2006.

Capital Law has a strong track record in commercial litigation, having closed over 400 claimant cases since 2001 with a 95% win rate. Drawing on its senior leadership and experienced disputes team, Capital Law launched New North to address the underserved small to mid-market segment of commercial litigation market. 

New North will be the only litigation financier in the UK owned and operated by practicing lawyers, bringing their day to day lived experience of handling mid-market litigation into pricing the risk and the funding investment decisions.

Christopher Nott, Founder and CEO of New North commented: “We are pleased to work with Pollen Street on this financing to launch New North Litigation Capital. The funding supports us to bridge a critical gap by funding claims that are often deemed too small by other players in the market. We are excited to work with the Pollen Street team as we create this new kind of litigation funding.”

Connor Marshall-Mckie, Investment Director at Pollen Street, commented:New North addresses an important gap in the litigation funding space, focusing on smaller mid-market commercial litigation. With the significant opportunity available and the deep experience of the leadership team from Capital Law we are excited to partner with the team to support their growth.”

About Pollen Street

Pollen Street is a fast-growing and high-performing private capital asset manager. Established in 2013, the firm has built deep capability across the real estate, financial and business services sectors aligned with mega-trends shaping the future of the industry. Pollen Street manages over €7bn AUM across private equity and credit strategies on behalf of investors including leading public and corporate pension funds, insurance companies, sovereign wealth funds, endowments and foundations, asset managers, banks, and family offices from around the world. Pollen Street has a team of over 95 professionals.

Burford’s Q2 Profits Surge on New Capital

By John Freund |

Burford Capital has delivered its strongest quarterly performance in two years, buoyed by a swelling pipeline of high-value disputes and a fresh infusion of investor cash.

A press release in PR Newswire reveals that the New York- and London-listed funder more than doubled revenue and profitability in the three months to 30 June 2025. CEO Christopher Bogart credited “very substantial levels of new business” for the uptick, noting that demand for non-recourse financing remains “as strong as we’ve ever seen.”

The stellar quarter follows a lightning-quick, two-day debt offering in July that raised $500 million—capital Burford says will be deployed across a growing roster of commercial litigations, international arbitrations, and asset-recovery campaigns. Management also highlighted significant progress in portfolio rotations, underscoring the firm’s ability to monetise older positions while writing new ones at scale. Investors will get a deeper dive when Burford hosts its earnings call today at 9 a.m. EDT.

Burford’s results arrive amid heightened regulatory chatter in Washington and Westminster, yet the numbers suggest the industry’s largest player is unfazed—for now—by talk of disclosure mandates and tax levies. The firm emphasised that its legal-finance, risk-management and asset-recovery businesses remain uncorrelated to broader markets, a pitch that continues to resonate with pension funds and endowments hunting for alternative yield.

For litigation-finance insiders, Burford’s capital-raising prowess and improving margins could have ripple effects: rival funders may face stiffer competition for marquee cases, while law-firm partners might leverage the firm’s deeper pockets to negotiate richer portfolio deals.

International Legal Finance Association (ILFA) Announces End of Year Gala and Inaugural Legal Finance Awards

By John Freund |

 The International Legal Finance Association is pleased to announce its annual End-of-Year Gala Dinner on November 13, 2025.  The event will take place at The Law Society in London, bringing together leading figures from across the legal finance industry for an evening of celebration and reflection on the year’s achievements.  

The dinner will be accompanied by the inaugural Legal Finance Awards.  The awards are designed to recognize and honor excellence across the legal finance ecosystem. They will spotlight the achievements of funders, law firms, brokers, advisors, and other key contributors to the continued growth and innovation of the industry. Nominations for the awards are now open, with the nomination form available here

“The Gala Dinner is a chance for our members and guests to gather in person and celebrate the progress we've made over the year,” said Rupert Cunningham, Global Director of Growth and Membership Engagement at ILFA. “We are especially excited to launch the Legal Finance Awards, which will shine a light on the outstanding work and impact of professionals across our field.”

Tickets for the Gala are on sale now, with discounted pricing available for ILFA members.  More information can be found here.