SYDNEY (31 January 2019): Leading global litigation and dispute financier IMF Bentham Limited (ASX: IMF) (IMF) announced today it is approaching investment targets for two of its funding vehicles ahead of schedule and has successfully increased the capacity of these vehicles to meet strong market demand for investment funding.
IMF launched Funds 2 & 3 (known as ‘RoW’ Funds) in October 2017 with A$150 million to fund cases across Australia, Asia, Canada and Europe. In the coming months, IMF aims to launch the additional RoW Fund (Fund 5) to fund future cases in these regions. IMF has committed all of the ‘RoW’ Funds capital and has now upsized the ‘RoW’ Funds to A$180 million to meet demand prior to the launch of Fund 5. Investors (Partners Capital, Amitell Capital and IMF) have committed the additional A$30 million.
Demand for funding is evident across all of the jurisdictions in which IMF operates, particularly in Canada and Asia, where contemporary third-party finance is relatively new and IMF is rapidly establishing a market and a leading presence.
This upsizing brings IMF’s total Funds under Management to approximately A$1.1 billion. By the end of FY19 we anticipate IMF’s total global Funds under Management will exceed A$1.5 billion – cementing IMF’s position as one of the largest litigation and dispute financiers in the world.
IMF Managing Director and CEO, Andrew Saker said: “These developments reflect investor confidence in litigation finance as an asset class and confidence in IMF in particular. They also confirm the increasing appetite for dispute finance across the legal and other industry sectors. Dispute finance is increasingly becoming a mainstream option for organisations wishing to defray the cost and risk of litigation.”
More: See ASX announcement here.
ABOUT IMF BENTHAM LTD
IMF is one of the leading global litigation & dispute financiers, headquartered in Australia and with offices in the US, Singapore, Canada, Hong Kong and London. IMF has built its reputation as a trusted provider of innovative litigation funding solutions and has established an increasingly diverse portfolio of litigation & dispute financing assets.
IMF has been a leading pioneer of litigation financing in Australia since 2001, playing a significant role in the initial steps towards a globalised industry via its international expansion in the US, Canada, Asia and Europe. IMF has a highly experienced litigation funding team overseeing its investments delivering, as at 30 June 2018, a 90% success rate across 179 completed cases.
For further information regarding IMF and its activities, please visit www.imf.com.au.