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Commercial People Moves

Nera Capital Kicks Off 2025 with Ambitious Recruitment Drive

By John Freund |

Leading litigation finance firm Nera Capital is bolstering its already flourishing team, with several senior hires. A new In-House General Counsel, Managing Director of Commercial Claims Division and Financial Controller are currently being recruited to bolster the management team with new experienced talent.

In addition, the firm has already acquired a new financial analyst and the firm’s audit team is also branching out, with new hires expected to join its Manchester and Dublin offices.  Nera’s success comes after a period of sustained growth in the litigation finance market.

Director of Nera Capital Aisling Byrne shared her thoughts on the expanding team: 

“At Nera Capital, we believe that strong leadership and diverse talent are the cornerstones of our success. We don’t just work together – we grow together. Nera Capital is a place where passion, strategy, and collaboration meet, creating an environment where every team member can thrive and make a meaningful impact. I’m very proud of what we’ve achieved so far. Our expansion isn’t just about numbers – it’s about nurturing a vibrant culture of collaboration and innovation that empowers us to take major steps forward in the litigation finance space.”

The firm ended the year on an undoubtable high with the introduction of its Access to Justice Fund to assist those in need of legal assistance or financial support. 

In yet another successful funding deal, Nera also managed to procure a further $25 million to boost UK consumer protection claims and ensure increased access to justice for individuals seeking redress. The firm also recently announced the opening of its Dutch office in Amsterdam as it takes on more work in the Netherlands, adding to its locations in Dublin and Manchester. 

Aisling added: “With every fresh perspective we welcome, we are igniting a powerful movement in litigation finance – one driven by passion, purpose, and an unwavering dedication to ensuring that justice is within reach for all.

“Together, we will continue to push boundaries and redefine what’s possible in litigation finance. But most importantly, we will continue to make a difference and increase access to justice for all.

She added: “I’d like to thank our amazing team and partners in the UK, US and across Europe for greatly contributing to our success. We look forward to what the future holds.” 

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John Freund

John Freund

Commercial

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Case Developments Commercial

Funding of Investor-State Disputes Attracts Criticism

By Harry Moran and 4 others |

Whilst litigation funders can provide the financial resources for individuals and companies to gain access to justice, the benefits that this service provides do not shield the industry from criticism; especially where lawsuits can be portrayed as putting business interests over social or environmental progress.

An in-depth article in The Guardian covers the growing trend of third-party funding supporting investor-state disputes focused on environmental regulations. In these cases funders are often backing companies who have seen their profits harmed by ‘green laws’, with a large potential upside for the funder due to the sizeable awards in play and the diminished risk of counterclaims being brought by governments.

Analysing the publicly available data from over 1,400 of these cases brought against nation states, The Guardian’s investigation details more than $120 billion in awards through claims in investor-state dispute settlement (ISDS) courts. As the article notes, this figure may be a severe underestimation of the true total, as only 34% of cases where a settlement or award was made had disclosed the financial value of the award.  Similarly, whilst the involvement of third-party funders is not always disclosed, The Guardian found at least 75 ISDS cases where such a party was involved, with more than half of those backed by investors in the UK, US or Canada.

This trend has been the target of some criticism from lawyers and arbitrators involved in these disputes, with Muthucumaraswamy Sornarajah noting that it is often “developing countries” that are the targets of claims backed by investors who see the ISDS system as “big business.” Lisa Sachs, director of the Columbia Center on Sustainable Investment, also argued that the risk mitigation offered by having a funder cover the legal costs is effectively “removing a key deterrent to bringing weak or speculative claims.”

In response to its investigation, Burford Capital was the only funder who agreed to speak with The Guardian. The funder rebuffed the idea of supporting frivolous claims, pointing out that “legal finance provides a vetting function and weeds out meritless cases: we only get paid when our clients win their cases”. Burford’s CEO, Christopher Bogart, questioned whether these kinds of cases were unique, saying that he does not think “ISDS is any more high potential or lucrative than lots of other areas of litigation.”

Commercial Deals

Nera Capital Reaches $100m Milestone for Investor Returns

By Harry Moran and 4 others |

For any litigation funder, success is measured in favourable outcomes for the cases they support, as well as in their ability to deliver on the returns for investors who provide the foundational capital needed for these businesses.

An article on Insider Media highlights a new landmark for Nera Capital, as the litigation funder announces that it has now exceeded $100 million in repayments to its investors. This latest milestone comes off the back of a strong run of case investments, with the funder spotlighting its backing of a major hernia mesh claim in the United States where Nera supported claimants who suffered complications from defective mesh implants.

In addition to the successful mesh claim, Nera has also built a track record of investing in commercial cartel cases and personal injury claims, with two European anti-trust claims that have settlement values of over $20 billion. Building upon these investments, Nera is anticipating the launch of a new $75 million fund that will support the funder’s ambitious growth plans.

Aisling Byrne, director and co-founder of Nera Capital, said that “surpassing $100 million in repayments is a testament to the firm’s disciplined investment strategy and commitment to delivering on promises.” Speaking to the philosophy behind the company’s investment strategy, Byrne stated: “We are not just funding litigation; we are helping people achieve justice while ensuring our investors benefit from well-structured, high-value opportunities.”

Read more about Nera Capital in LFJ’s Community Spotlight with Aisling Byrne.

Commercial

PIB Group expands its MGA division acquiring market-leading specialist litigation insurance MGA Litica

By Harry Moran and 4 others |

PIB Group Ltd (‘PIB’ or ‘the Group’), the specialist insurance intermediary group, has acquired market-leading litigation insurance provider Litica. 

Managing General Agent (MGA) Litica specialises in a range of insurance-backed solutions for private and corporate clients involved in litigation or arbitration.

Litica was founded in London in 2019 by co-founding directors Stephen Bolster and Steve Ruffle. It has since expanded its operations to Australia, the United States and Germany. The company has a large panel of insurer backers and is a Lloyd’s coverholder. This access to significant insurance capacity enables them to underwrite a range of complex and high value litigation types. 

Charles Burgess, CEO of Underwriting and Schemes at PIB Group, said: “Having Litica join PIB Group marks an exciting milestone, enabling our MGA division to enter the next phase of growth. Liticia’s operations in Australia and the United States provide our MGA business with a strong foothold in these markets, bringing a wealth of opportunity to the wider Group. We’re excited to have Stephen, Steve and their team join us - their experience will be invaluable.”

Stephen Bolster, co-founding director at Litica, said: “At Litica we have spent the last six years establishing ourselves as the UK's leading provider of specialist litigation insurance, and we are beginning to replicate that success across international markets. Joining an entrepreneurial and ambitious Group provides us with the capabilities we need to continue growing, while still providing our clients with the professional and diligent services we are known for.”

Steve Ruffle, co-founding director at Litica, said: “Being part of an ambitious, bold and fast-paced international Group will ensure we are positioned well to make the most of the opportunities the market continues to present. We are looking forward to leveraging PIB Group’s wide range of products, solutions and expertise in insurance and risk management.”