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Announcements Commercial

Omni Bridgeway achieves significant growth in key drivers

Omni Bridgeway Limited (ASX: OBL) (Omni Bridgeway, OBL, Group) has today released its results for the 12 months ended 30 June 2023 (FY23, Year).

Managing Director and Chief Executive Officer, Andrew Saker, said “I am pleased to announce notable achievements during FY23 and report on a strong finish to the year, underpinned by gathering market momentum and the effectiveness of our diversified funds management strategy.”

The Group reported a substantial ~200% turnaround in the second half compared to the first half and is backed by a strong capital position of over $360 million in cash and receivables,” added Mr Saker.

Key highlights of FY23:

  • Increased potential future income by achieving a record level of commitments amounting to $544.2m up 17%.
  • The estimated portfolio value (EPV) grew by 12% to reach $30.5 billion, after completions, removal of impaired investments now completed, and disposals, and achieved a 34% CAGR (four years to 30 June 2023).
  • Grew implied embedded value (IEV) by 9% to $3.9 billion, with $1.0 billion provisionally attributable to OBL, excluding estimated management fees and potential performance fees.
  • Delivered a strong second half result with 203% NPAT turnaround of $61.1m from the first half, reflecting improved income, lower expenses and signalling momentum heading into FY24.
  • We have delivered total gross income and revenue to a record level of $330.0 million, up 51% on last year, derived from diversified sources comprising both completions of investments and secondary market sales. 
  • Increased litigation proceeds by 30% to $283.4m comprising $235.7m investment completions and $47.7m cash proceeds from the sale of a participation in Fund 1 assets.
  • Achieved 9% cost savings in 2H23 reflecting non-recurring items and initial savings from expense optimisation with a continued focus on cost efficiencies into FY24.
  • Upsizing of Funds 4 and 5 are progressing well with ~US$400m to US$600m first close from existing investors expected in 1H24, followed by a potential second close with new investors.
  • Build out of platform is now substantially complete readying our business for anticipated future growth.
  • Achieved geographic expansion in the northern hemisphere with new locations in the United States, France and Italy, maintaining both our competitive advantage and industry leadership.
  • Made executive leadership appointments including a Global Chief Financial Officer, a Co-Chief Investment Officer of EMEA and a Global Head of People and Culture.

The remainder of the FY23 Results Summary can be accessed here.

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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.

Announcements Commercial

NorthWall Capital Hits €2.9 B AUM on Private Credit Momentum

By John Freund |

NorthWall Capital has rocketed past €2.9 billion in assets under management after pulling in an additional €1.6 billion of institutional capital in 2025 alone. The London-based alternative credit manager says the surge reflects allocators’ intensifying hunt for scaled, multi-strategy platforms as Europe’s banks retrench and borrowers seek bespoke sources of credit.

A press release from NorthWall Capital details first-close totals across four distinct strategies. The flagship Credit Opportunities fund secured €731 million—already eclipsing its prior vintage—while the newly launched Senior Lending vehicle raised $503 million, translating to roughly $750 million of deployable firepower once leverage is applied. Asset-Backed Opportunities collected €252 million for collateral-rich loans in sectors underserved by traditional lenders, and the specialist Legal Assets platform locked down $169 million to extend the firm’s law-firm lending programme.

Founder and CIO Fabian Chrobog said the fundraising validates “the consistency of our approach” and NorthWall’s ability to craft solutions that resonate with investors and counterparties alike. With headcount slated to hit 40 by year-end, the firm plans to lean further into complex, situational credit born of bank deleveraging, regulatory shifts and sponsors’ need for certainty of execution.

Announcements Commercial People Moves

Victory Park Expands Legal Credit Leadership with Maleson Promotion

By John Freund |

Victory Park Capital (VPC), a global alternative asset manager specializing in private credit, has announced that Justin Maleson will expand his role to Managing Director, co-heading the firm’s legal credit investment strategy. The promotion underscores VPC’s ongoing investment in its legal finance capabilities and follows Maleson’s initial appointment in 2024 as Assistant General Counsel.

An announcement from Victory Park Capital details Maleson’s new responsibilities, which include sourcing, analyzing, and managing investments across legal assets, while maintaining oversight of the firm’s legal operations. He joins Chad Clamage in co-leading the strategy, working alongside team members Hugo Lestiboudois and Andrew Pascal, under the continued oversight of VPC CEO and founder Richard Levy.

Maleson brings a strong background in litigation finance and commercial law to the position. Before joining VPC, he served as a director at Longford Capital, where he specialized in originating and managing litigation funding transactions. His earlier tenure as a litigation partner at Jenner & Block further deepened his exposure to complex legal matters, equipping him with the expertise needed to navigate the nuanced legal credit space.

VPC’s legal credit team emphasizes an asset-backed lending model, prioritizing downside protection and predictable income streams. The firm aims to capitalize on inefficiencies within the legal funding market by leveraging its internal expertise and broad network of relationships. With Maleson’s appointment, VPC signals its intent to further scale its legal credit strategy, positioning itself as a key player in the evolving legal finance sector.

Maleson’s elevation comes at a time of increasing sophistication in litigation finance, where experienced legal minds are playing a pivotal role in portfolio construction and risk management. As VPC bolsters its leadership, the move may foreshadow further institutionalization of legal asset investing and heightened competition in a maturing market segment.