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PREMIER LITIGATION FINANCE FIRM ROCADE LLC PARTNERS WITH BARINGS AND EJF CAPITAL

Rocade LLC (“Rocade” or the “Company”) today announced its launch as a specialty finance company focused on litigation finance with a long-term investment approach, in partnership with Barings LLC (“Barings”), one of the world’s leading investment managers.

Under the terms of the transaction, funds affiliated with Barings have made a significant equity investment into the Company. EJF Capital LLC (“EJF Capital”), which launched Rocade’s predecessor vehicle, Rocade Capital LLC in 2014 with a highly skilled management team, will support the platform and remain a material shareholder in the newly formed entity alongside management, which will transition to the Company.

Headquartered in the Washington, D.C. area, Rocade provides flexible law firm financing solutions, with facilities ranging in size from $10 million to over $100 million which are secured by contingent fees receivable or other litigation assets. Under this new organizational structure, Rocade will benefit from having a robust and patient capital base backed by Barings, enabling it to provide flexible, long-term capital solutions to growing law firms, while leveraging the team’s combination of deep sector expertise and financial structuring capabilities.

Brian Roth, Chief Executive Officer and Chief Investment Officer of Rocade, said, “Uniting with Barings in our vision for a permanent capital vehicle is an incredible milestone for Rocade, as this long-term investment horizon sets us apart and will meaningfully enhance our alignment with the firms in which we invest. The strength of our combined experience and expanded financial resources empowers us with scale and flexibility to continue our trajectory as a leading litigation credit provider in the rapidly evolving litigation finance industry.”

“We are thrilled to partner with Rocade to cement its status as a leading litigation finance provider,” said Bryan High, Head of Capital Solutions at Barings. “Brian and the outstanding team of professionals at Rocade have built a best-in-class, technology-enabled platform that meets the needs of many law firms as they navigate increasingly complex litigation. Rocade’s deep relationships, strong credit culture, and market-leading expertise powerfully complement Barings’ permanent capital base and long-term investment approach.”

“This expanded capital base allows us to scale our platform more quickly while maintaining our focus on asset quality,” added Jacob Cantrell, Chief Risk Officer of Rocade. “Our core team, process, and product will remain the same while we continue to invest in technology to improve our decision process and drive efficiency. Adding the strength, diversity, and scale of resources available across the Barings private credit team to these core strategies offers Rocade more long-term flexibility and reliability for our law firm partners.”

Emanuel Friedman, Co-Founder and Co-CEO of EJF Capital, commented, “We are pleased to participate in the continued success of Brian and his team, who have built a terrific platform that has differentiated itself through an institutional approach to a niche asset class and a data-driven process for understanding complex situations. I look forward to partnering with an innovative and dynamic capital partner in Barings, and I am confident that Rocade is well positioned for a highly successful next chapter with a renewed focus on becoming a dominant player in the space over the long-term.”

Fried, Frank, Harris, Shriver & Jacobson LLP served as legal advisor to EJF Capital. Dechert LLP served as legal advisor to Barings. Nixon Peabody LLP and Cooley LLP served as legal advisor to Rocade and management.

About Rocade

The Company, which operates as Rocade Capital, is a private credit firm which provides flexible growth capital for plaintiff law firms in order to finance case acquisition, manage working capital or realize settled cases.  Since Rocade’s predecessor was founded in 2014 by EJF Capital, the platform has funded approximately $900 million of loans to leading law firms within mass tort and other complex litigation, unlocking potential for dozens of growing law firms.  Its flexibility, industry expertise, track record and long-term focus position it to be a leading law firm lender.  Rocade has an experienced team of professionals, located in the Washington, DC area and Houston, TX, which includes both finance industry veterans as well as litigation experts. For more information, please visit https://rocadecapital.com/.

About Barings

Barings is a $347+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment.

*Assets under management as of December 31, 2022.

About EJF Capital

EJF Capital LLC is a global alternative asset management firm headquartered outside of Washington, D.C. with offices in London, England and Shanghai, China. EJF has over 70 employees, including a seasoned investment team of over 30 professionals. The firm was founded in 2005 by Manny Friedman and Neal Wilson. To learn more, please visit http://ejfcap.com.

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Manolete Partners Announces New Revolving Credit Facility with HSBC Bank

By Harry Moran and 4 others |

Manolete Partners Plc (AIM:MANO), the leading UK-listed insolvency litigation financing company, is pleased to announce it has signed a new Revolving Credit Facility ("RCF") with its existing provider, HSBC UK Bank Plc ( "HSBC"). 

The new RCF provides Manolete with the same level of facility as the previous arrangement, at £17.5m. However, the margin charged to Manolete by HSBC on the new RCF is at a reduced rate of 4.0% (previously 4.7%) over the Sterling Overnight Index Average (SONIA) and has a reduced non-utilisation fee, from 1.88% to 1.40%. 

The new RCF is a 3.25-year facility with an initial maturity of 27 June 2028. Manolete has the option to further extend the facility on its current terms by an additional year. 

The covenants remain unchanged except for the Asset Cover covenant which has been relaxed for the next six months. 

Steven Cooklin, CEO commented: "We are delighted to have secured a new long-term commitment to the business from HSBC, which is testament to the strong partnership we have established since 2018. The improved terms of the facility demonstrate confidence in the Manolete business." 

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR"). 

Announcements Commercial Deals

Angeion Group Expands Mass Tort Litigation Management Capabilities Through Merger with Case Works

By Harry Moran and 4 others |

Angeion Group (“Angeion”), the industry leader in end-to-end group litigation support, announced today its merger with Case Works, a premier provider of case data management solutions, including client engagement, medical record retrieval, medical review, and inventory analysis. Neutral, but never passive, this strategic integration of Case Works reinforces Angeion’s forward thinking approach to providing seamless tech-enabled support for complex litigation firms and leading law departments, with efficiency and precision.

The merger of Angeion and Case Works follows majority investments into both companies by private equity firm Renovus Capital Partners (“Renovus”) in 2024. Angeion also acquired bankruptcy administration solutions provider Donlin Recano in late 2024. Renovus worked alongside the companies’ founders and management teams to unify the businesses and deliver a seamless experience for clients and employees throughout the integration.

Case Works has earned a reputation of excellence by ensuring accuracy, completeness, and applicability of case data to support legal requirements. By combining their core capabilities with Angeion’s advanced technology and data-driven approach, this merger further solidifies Angeion’s position as the most trusted partner for navigating complex, high-stakes litigation and settlements.

Effective large-scale litigation and settlements rely on comprehensive, well-organized data and the ability to apply that data effectively within the context of a particular project. Combining Case Works’ proven excellence in capturing and managing critical case information with Angeion Group’s expertise in technology, process efficiency and claims management, provides a more structured, more transparent, and more effective approach to large-scale litigation and settlement management.

“Case Works brings deep expertise and a proven track record of supporting firms with large data and medical record retrieval needs. They are known for their dedication to precision, care and bedside manner,” said Steven Weisbrot, CEO of Angeion Group. “Together, we are raising the bar for what clients can expect—faster, more accurate processes and a commitment to white glove service.”

Angeion Group and Case Works share a common vision: to set the new standard for how large-scale litigation and group settlement support can combine technological efficiency with thoughtful human interaction. Both organizations are driven by a commitment to innovation, precision, and efficiency and are mindful that litigants should expect and receive compassion and respect throughout the group litigation process. This merger will elevate industry standards and ensure that all parties, their council, and the courts benefit from a more streamlined, thoughtful and effective process.

“We’re excited to join forces with Angeion Group,” said Susan Barfield, Founder of Case Works. “Their commitment to innovation and client service aligns perfectly with our own, and we look forward to delivering even greater value to the firms and clients we support.”

“We’re honored to have partnered with these leading companies, building upon our strong track record in tech-enabled legal services,” added Lee Minkoff, Managing Director at Renovus. “We’d also like to thank founders Steve Weisbrot and Susan Barfield for their leadership throughout this game changing merger for the group litigation support industry.”

Angeion remains steadfast in its mission to completely modernize and optimize complex litigation management to the benefit of all stakeholders.

About Case Works

Case Works is the leading provider of tech-enabled litigation support solutions to the country’s premier plaintiff law firms. Based in Austin, Texas, the Company was created with a single mission: To Help Lawyers Help People. Case Works provides a full suite of case management services including claims qualification, intake, medical records retrieval & review, case development, and ongoing plaintiff engagement.

About Angeion Group

Angeion Group is a leading provider of legal notice and settlement administration services, leveraging advanced technology, proven best practices, and expert consulting to manage class actions, mass torts, and collective redress administration. Recognized for its innovation, efficiency, and unwavering client commitment, Angeion Group continues to redefine industry standards.

Announcements Commercial Deals

Moneypenny Unites Under One Brand as It Celebrates 25 Years of Excellence

By Harry Moran and 4 others |

Moneypenny, the world’s customer conversation expert, proudly marks 25 years of delivering exceptional service and innovation. As part of this milestone, Moneypenny is unifying all of its brands across the US, including VoiceNation, Alphapage, Sunshine Communication Services, and Choice Voice, under one internationally recognized name. 

This transition reinforces Moneypenny’s dedication to a clear and dynamic future for its clients and people while reflecting the values and passion that have driven its success. Started in 2000 after a pivotal missed phone call resulted in a missed business opportunity, Moneypenny has since delivered world-class customer conversations to thousands of global businesses. Over the past 10 years, Moneypenny has expanded its presence across the US, growing under the Moneypenny, VoiceNation, Alphapage, Sunshine Communication Services, andChoice Voicebrands. Now, all will operate under the beloved Moneypenny brand in its Atlanta and Miami offices, as well as virtually in hubs across the country. This unification enhances the ability to offer seamless customer communication solutions and strengthens Moneypenny’s position as the world’s customer conversation experts. 

“As we celebrate 25 years of service, we are excited to express more clearly and concisely our passion to those we serve. By bringing the best of all of our businesses together under one brand, we make it easier for businesses to see the full range of solutions we offer, while also enhancing opportunities for our people. This transition underscores Moneypenny’s commitment to excellence, innovation, and a unified global strategy.” said Richard Culberson, CEO of Moneypenny North America. 

"As a company proudly headquartered in Wrexham UK, a city with a rich history and a growing international profile, Moneypenny is proud to represent that same spirit of fellowship, excellence, and focus on what matters most, people,” said Jesper With-Fogstrup, Group CEO of Moneypenny. “Just as Wrexham soccer has captured hearts across the US, Wrexham’s own Moneypenny has captured hearts by connecting businesses, technology, and people on both sides of the pond. We couldn’t be more excited to have all our teams driven by this shared spirit."

To mark its silver anniversary, Moneypenny will celebrate with a throwback “year 2000” prom for its US teams – a tribute not only to Moneypenny’s remarkable quarter-century history, but also to a time before smartphones, live chat, and a global pandemic put companies on call 24-7. By embracing a unified brand, celebrating its legacy, and continuing to invest in its people and AI-driven solutions, Moneypenny is setting the stage for an even stronger future.

About Moneypenny

As the world’s customer conversation experts, Moneypenny’s unique blend of brilliant people and AI technology integrates seamlessly to deliver customer conversations that unlock valuable opportunities for businesses, 24/7. Available across all voice and text channels, Moneypenny responds to and fulfils requirements for thousands of UK and US clients who value their reputation and recognize that the key to sustainable growth is working with a partner who allows them to scale in an agile way. This year, Moneypenny proudly celebrates 25 years of service, having been named one of the “100 Best Companies to Work For” seven times and earning recognition as a Great Place To Work (GPTW). Moneypenny was also named as ‘Best Global Support’ in The Forbes Advisor - The Best Answering Services of 2024.