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Announcements Commercial

LCM Releases Interim Results for the Half Year

March 14, 2023

LCM Releases Interim Results for the Half Year

Litigation Capital Management has released its Interim results for the half year ended 31 December 2022. Highlights
  • Fund II Capital commitment at A$79m as at 31 December 2022 and A$114m as at 28 February 2023. Fund I fully committed
  • Assets under Management (AuM) increased to A$506m by 31 December 2022 with further commitments in Fund II bringing our AuM to A$537m at 28 February 2023
  • Overall Capital commitments were up significantly on the same prior year period at A$107m
  • 162 applications reviewed, made up of better quality, larger and more complex cases, with expectations of enhanced returns from these cases
  • Capital invested during the period increased from A$31.5m to A$56.9m
  • Total revenue A$3.0m with a further A$22.5m recognised post the period end
  • Adjusted loss for the period A$5.5m reflecting conservative revenue recognition. Post balance sheet resolutions would have increased LCM only performance to an adjusted operating profit of A$6.3m
Post period events and outlook
  • Post Year End first successful settlement from a Fund I co-investment, generating ROIC of 278% for LCM’s balance sheet contribution and expected to contribute A$6.3m to gross profit
  • Post Year End successful settlement on one of LCM’s 100% direct balance sheet investments which was an Australian class action contributing approximately A$5.8m to gross profit
(Capital commitment means the total estimated budget of an investment) Commenting on the results, Patrick Moloney, CEO of Litigation Capital Management, said: “I am pleased we have continued to make progress on our Fund Management business, which has the potential to bring superior returns to LCM, as demonstrated by the first successful settlement from a Fund I investment, producing favourable outcomes both for the Fund and our balance sheet.” “Building on the increased levels of commitments in the period, we expect more investment opportunities to present themselves, in part due to the counter cyclical nature of our business, and as moratoriums against insolvency and restructuring disputes are relaxed. Our track record shows we are well positioned to capitalise on these opportunities, wherever they present themselves in the world.” LCM will be hosting a webinar for investors today at 11.00 a.m. The presentation is open to all existing and potential shareholders. If you would like to attend this presentation, please register using the following link: https://www.investormeetcompany.com/litigation-capital-management-limited/register-investor  A webinar presentation for analysts will take place at 9.00am. Analysts wishing to attend should contact: lcm@tavistock.co.uk to register. The accompanying results presentation is available on LCM’s website: https://www.lcmfinance.com/shareholders/investor-presentations-results/  The Interim Financial Report is available at: https://www.lcmfinance.com/shareholders/annual-reports-financial-reports/
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Announcements Commercial

Burford’s Q2 Profits Surge on New Capital

By John Freund |

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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.

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Announcements Commercial

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.

Announcements Commercial Legal Innovation

Sentry Expands Free Funding Market Search for Litigators

By John Freund |

Sentry Funding’s free tool enabling litigators to instantly search the funding market on behalf of clients has been expanded.

Sentry’s free ‘decision in principle’ feature enables lawyers to evidence to clients that they have conducted a broad market search, even if funding is not ultimately taken out.

Having deployed £125m in funding across a range of case types, Sentry now has access to an even broader funding marketplace, covering 34 global jurisdictions. Finance is provided by 13 funders, five of which are members of the Association of Litigation Funders.

With the recent addition of Sentry’s first US-based funder, the US offering will now be expanding over the next few months. 

A faster process

Sentry has deployed the latest technology to make the search for funding even easier. 

  • The intuitive application process now only asks questions relevant to previous answers, saving lawyers time.
  • The commercial marketplace has been redeveloped with 63 new data points added to the funder criteria matrix - improving the accuracy of case / funder matching
  • Sentry has also begun building out its AI capabilities, starting with an automated auditing tool for live case progression audits. 

Tom Webster, chief executive officer at Sentry Funding, said:

‘By broadening our reach and speeding up the process, we’re making it even easier for lawyers to raise funding. We’re also giving litigators an easy way to show clients they have fully researched the market, rather than just approaching one or two funders. 

‘The service is free to use, so even if clients decide they do not ultimately want funding or if none is available for that case, for the lawyer, it makes sense to use our “decision in principle” feature, so they can put evidence on file that they did check the market.’

Sentry Funding is an SaaS (software as a service) technology provider that gives solicitors access to a diverse marketplace of litigation funders. It works with solicitors, funders and third-party providers to ensure claimants are getting the most efficient service for their funding needs. 

The Sentry Portal also acts as a case management system that runs a transparent digital case file for solicitors, funders, after-the-event insurance providers, barristers, cost lawyers and other relevant third parties.