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Commercial Fundraising

Pretium Raises $500 Million for its Inaugural Legal Opportunities Fund

By Harry Moran |

Pretium, a specialized investment firm with more than $57 billion in assets under management, has closed its inaugural Legal Opportunities Fund, securing approximately $500 million in equity capital commitments from a group of new and existing investors.

The Fund will provide liquidity to plaintiffs, entitlement holders and law firms pursuing a broad range of corporate claims, including patent infringement, anti-trust, and general commercial and contract litigation. For investors, the Fund offers the potential for attractive risk-adjusted returns that are minimally correlated to traditional markets.

“The demand for this Fund underscores not only the evergreen opportunities in legal finance, but the strength of Pretium’s investment approach,” said Don Mullen, Founder and CEO of Pretium. “We are specialists in unlocking value in complex investments with high barriers to entry. Having developed that expertise through our work in residential real estate, we are applying it to legal opportunities, which we believe will create significant benefits for our investors.”

Matthew Cantor, Senior Managing Director leading Pretium’s Legal Opportunities strategy, added, “Intellectual property is the capital driving the growth of the digital economy and the development of legal finance. By providing bespoke capital solutions to fund the monetization of legal entitlements, we’re supporting law firms, corporations, and other sophisticated parties to help more efficiently and effectively manage their legal risks.”

Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to the Pretium Legal Opportunities Fund.

About PretiumPretium is a specialized investment firm focused on U.S. residential real estate, residential credit, and corporate credit. Pretium was founded in 2012 to capitalize on investment and lending opportunities arising as a result of structural changes, disruptions, and inefficiencies within the economy. Pretium has built an integrated analytical and operational ecosystem within the U.S. housing, residential credit, and corporate credit markets, and believes that its insight and experience within these markets create a strategic advantage over other investment managers. Pretium’s platform has more than $57 billion of assets, comprising real estate investments across nearly 90 markets in the U.S., and employs approximately 7,000 people across 50 offices, including its New York headquarters, Miami, London, Seoul, and Sydney. Please visit www.pretium.com for additional information.

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Harry Moran

Harry Moran

Commercial

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Community Spotlights

Community Spotlight: Craig Allsopp, Joint Head of Class Actions, Shine Lawyers

By John Freund and 4 others |

Based in Sydney, Australia, Craig Allsopp is the Joint Head of Class Actions at Shine Lawyers. Craig has over two decades of experience in class actions and large-scale litigation in both the private and public sectors. His unwavering commitment to justice has left an indelible mark on Australia’s legal landscape, positioning him as a trailblazer in shareholder dispute resolutions. Craig’s distinguished career is studded with triumphs that have shaped legal precedent. In every case he sees through, Craig strives to obtain justice for thousands of people impacted by the misconduct of corporations, the big banks and other major financial service institutions, and Australian governments. In particular, Craig has worked on some of Australia’s highest profile shareholder and social justice class actions.

Craig's dedication to legal excellence and social justice is demonstrated by the profound impact he has on the legal landscape. He has set a standard for advocacy and achieving substantive change in the pursuit of fairness and accountability, particularly in corporate and government sectors.

Company Name and Description: Shine Lawyers is an Australian law firm specialising in personal injury compensation and class actions. As one of Australia’s leading class actions firms, Shine Lawyers passionately fights to obtain justice for those who have been wronged and suffered loss at the hands of institutions or corporations.  

Company Website: https://www.shine.com.au/ 

Year Founded: 1976

Headquarters: Brisbane, Queensland, Australia

Area of Focus: Class Actions

Member Quote: Third-party litigation funding has significantly improved access to justice in Australian class actions allowing individuals to pursue representative claims against corporations and governments for various alleged misconducts.

Case Developments Commercial

Westpac Announces A$130m Settlement for Flex Commissions Class Action

By Harry Moran and 4 others |

The Banking Royal Commission established by the Australian government uncovered a wide range of misconduct and failing by the country’s financial institutions, with a slew of litigation and class action claims being brought in the aftermath. Six years on from the commission’s final report, some of these class actions are only now reaching a conclusion.

An article in Reuters covers the news that the Westpac Group has agreed to settle a class action brought against it by car loan customers, over “flex commissions” paid to car dealers by Westpac and St George Finance. The provisional settlement, which is subject to court approval, is for A$130 million and would see the class action resolved without Westpac accepting any admission of liability.

The claim was brought by law firm Maurice Blackburn in 2020 on behalf of consumers who entered into a finance agreement for the purchase of a car issued under Westpac or St George’s credit licence, between 1 March 2013 to 31 October 2018. In its announcement, Westpac said that it has not paid these flex commissions to car dealers since 2018, and had ceased providing new lending through its dealer introduced auto finance business since 2022.

At the time of reporting, Maurice Blackburn had not yet issued a statement on the announced settlement.

The full announcement from Westpac Group can be read here. More information about the class action can be found on the Supreme Court of Victoria’s website.

Commercial People Moves

Omni Bridgeway Appoints David Breeney as Global Chief Financial Officer

By Harry Moran and 4 others |

An announcement from Omni Bridgeway confirms the appointment of David Breeney as Global Chief Financial Officer (GCFO), having officially taken over the role on 1 March 2025. The appointment sees Breeney move up from his previous position as Deputy CFO, having first joined Omni Bridgeway as Global Head of Financial Control in November 2023.

Prior to his time at Omni Bridgeway, Breeney spent 12 years at asset management firm Challenger Limited, where he served as Financial Controller for funds management and real estate. In the announcement, Omni Bridgeway said that “the background and experience of Mr. Breeney align well with the stated strategy of accelerated transition towards a fund and asset management model.”

The announcement also revealed that the departing GCFO, Guillaume Leger, will be leading the establishment of a capital formation team to coordinate fund capital raising activities of the group. After a period of three months in this role, Leger will be leaving the company and Omni Bridgeway will look to hire a permanent senior capital formation professional as a replacement.A separate announcement from Latitude Group Holdings confirms that Guillaume Leger will become the company’s new Chief Financial Officer on 16 June 2025.