Trending Now
Announcements Commercial People Moves

RESPECTED LITIGATION FINANCIERS UNITE TO LAUNCH NEW VENTURE

An experienced and agile team today launched Winward Limited (“Winward”), a litigation finance platform focused on being a funder with a lawyer’s mindset. Winward (www.winward.uk) will be run by Jeremy Marshall, its Chief Investment Officer and Managing Director, with committed capital from Rocade Capital.

Winward will initially concentrate on funding commercial litigation within Europe and common law jurisdictions although it will also look to capitalise on opportunities that are presented from other jurisdictions that have a mature litigation funding environment. Winward intends to build a balanced portfolio of investments and will aim to work with a select group of law firms and professionals. The initial investment focus is a mixture of litigation and arbitration matters in the fields of antitrust, arbitration, contract, group action, insolvency and tort.

Winward’s team is efficient, experienced and is determined to provide a robust service and come to swift and decisive funding decisions, while providing enhanced transparency throughout. Its advisory committee is chaired by Stephen Auld KC, a senior silk from leading chambers One Essex Court in London, and it is comprised of a number of seasoned professionals, all of whom have significant experience of either funding cases or having cases being funded. Wayne Attrill, Arndt Eversberg and Kees Jan Kuilwijk have decades of litigation funding knowledge of, respectively, the Australian, German and Dutch markets. From the UK, Philip Young and Sean Upson, who were senior partners at market-leading litigation practices (Cooke, Young & Keidan and Stewarts Law) will provide essential risk management and litigation skills from the perspective of practising lawyers.

Winward is funded by Rocade Capital, a leading litigation finance company backed by one of the world’s leading investment managers. Winward will benefit from a market leading insurance facility provided by co-insurers Arcadian Risk Capital and Litica Ltd.

Brian Roth, Chief Executive Officer and Chief Investment Officer of Rocade LLC, said “We are excited to be entering the market with the leadership of a litigation finance veteran in Jeremy Marshall.  This launch is an opportunity for us to contribute to moving our industry forward, as Winward will offer market leading solutions with a streamlined process”.

Shoosmiths LLP and Walkers advised Winward Limited. Nixon Peabody LLP served as legal advisor to Rocade LLC. Winward’s insurance broker is Howden Broking Group Limited.

Rocade Capital

Rocade LLC is a specialty finance company focused on litigation finance with a long-term investment approach, in partnership with one of the world’s leading investment managers. Since Rocade’s predecessor was founded in 2014, the platform has funded approximately $1.1 billion of investments in the litigation finance space, primarily consisting of loans to leading plaintiff law firms within mass tort and other complex litigation. Rocade Capital’s flexibility, industry expertise, track record and long-term focus position it to be a leader in law firm lending. 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 www.rocadecapital.com.

Jeremy Marshall

Jeremy was formerly the Chief Investment Officer for Bentham Europe (now Innsworth Advisors), the joint venture between IMF Bentham Limited (now Omni Bridgeway) and subsidiary entities of funds managed by Elliott Management Corporation. He was also a Senior Investment Manager with Omni Bridgeway. He is an experienced litigation finance professional, having worked in litigation finance for well over a decade and, prior to that, having been a partner of a London law firm which litigated a number of funded cases. He has been involved in the funding of a wide variety of cases, including the securities case against Tesco PLC in England (which settled) and a similar case against Volkswagen AG (in Germany). He is a regular contributor and commentator in the litigation finance space.

Announcements

View All
Announcements Consumer

Golden Pear Upsizes Corporate Note to $78.7M Amid Growth Plans

By John Freund |

Golden Pear Funding has extended and upsized its investment-grade corporate note to $78.7 million, further bolstering the firm's capacity to serve the expanding litigation finance sector. The New York-based funder, a national leader in both pre-settlement and medical receivables financing, said the proceeds will support working capital and fuel strategic growth initiatives.

A press release from Golden Pear outlines how the capital raise reflects continued investor confidence in the firm’s business model. CEO Gary Amos noted that the infusion is critical as Golden Pear seeks to scale alongside the “rapidly expanding litigation finance market.” CFO Daniel Amsellem added that the new funding aligns with the company’s capital allocation strategy, aimed at optimizing operational efficiency and executing strategic projects.

Brean Capital, LLC acted as the exclusive financial advisor and sole placement agent on the transaction.

Founded in 2008, Golden Pear has funded more than $1.1 billion to over 87,000 clients and remains one of the largest specialty finance companies in the U.S. Its business model spans legal case funding and medical receivables purchasing, with backing from a network of private equity partners that provide institutional support for continued expansion.

Announcements Regulatory Issues

LionFish Updates Model Documents in Response to CJC Report

By John Freund |

LionFish Litigation Finance Ltd has released a new suite of model litigation funding documents, updating its original set from February 2021. The revision comes on the heels of the Civil Justice Council's (CJC) Final Report on Litigation Funding, issued on 2 June 2025, which calls for a regulatory structure informed by best practices, including key principles published by the European Law Institute (ELI) in October 2024.

A LionFish press release details that the updated suite incorporates several of the ELI Principles (notably 4-12) and broader CJC recommendations, except where doing so would require legislative or procedural reform. LionFish's goal, according to Managing Director Tets Ishikawa, is not to dictate market norms but to foster industry-wide standardisation and efficiency. This proactive move is also intended to spark further collaboration between funders, insurers, and legal practitioners to develop trade practices akin to those in mature financial markets, such as those promoted by the Loan Market Association and the International Swaps and Derivatives Association.

The new suite includes three core documents: a litigation funding agreement, a priorities deed to define proceeds distribution, and an assignment deed for insurance benefits. Notably, LionFish has also added documentation for co-investment arrangements, reflecting a growing trend in syndicated funding deals. The funder has already closed seven such transactions.

Managing Director Tanya Lansky emphasised that while litigation funding remains complex, making documentation public enhances transparency and facilitates quicker deal closings—an essential factor for sustaining market growth.

As litigation finance continues to mature, this move by LionFish highlights a shift toward professionalisation and standardisation. With regulators increasingly focused on transparency and fairness, such initiatives may set a de facto benchmark for others in the industry. The question remains: will other funders follow suit, or will regulatory mandates be needed to compel alignment?

Announcements Commercial Legal Innovation

Backlit Capital Solutions Launches Legal Finance Consultancy

By John Freund |

Backlit Capital Solutions has announced the launch of its full-service legal finance consultancy. The firm aims to provide comprehensive funding solutions for legal claims, offering services that include litigation finance, arbitration funding, and judgment enforcement strategies.

An article in PR Newswire states that Backlit Capital Solutions is positioning itself as a comprehensive provider in the legal finance sector, aiming to serve a diverse clientele that includes claimants, law firms, lenders, and investors. The firm's service offerings encompass litigation finance, arbitration funding, and judgment enforcement strategies, indicating a broad approach to legal funding solutions.

The launch of Backlit Capital Solutions reflects a growing trend in the legal finance industry, where firms are expanding their services to address the multifaceted needs of legal claimants and their representatives. By offering a suite of services under one roof, Backlit Capital Solutions aims to streamline the funding process and provide tailored solutions to its clients.

As the legal finance landscape continues to evolve, the entry of firms like Backlit Capital Solutions underscores the increasing demand for specialized financial services in the legal sector. Their comprehensive approach may set a new standard for how legal finance consultancies operate, potentially influencing the strategies of existing and emerging players in the market.