Litigation finance is booming around the world, and while new funders are increasingly popping up to meet regional demand, industry stalwarts are continuing to augment their resources.
An LFJ Conversation with Michael Kelley, Partner, Parker Poe
Litigation finance is booming around the world, and while new funders are increasingly popping up to meet regional demand, industry stalwarts are continuing to augment their resources.
Reporting for the Australian Financial Review demonstrates this trend with a spotlight on Litigation Lending Services (LLS), which is looking to stock its war chest for future cases with a new funding round, in partnership with Credit Suisse. The Sydney-based funder is looking to raise up to $35 million in new capital from investors, aiming to put this money to work funding new litigation opportunities, while its previous ventures are still moving towards completion.
While the firm has previously relied upon its internal capital to fund new ventures, this is the second time it has looked for external investment after the launch of its Litigation Lending Fund 1, back in 2019, which raised $50 million to take on cases. LLS, which was founded in 1999, claims a success rate of 93 per cent on cases that reach completion, and has backed many high-profile cases in Australia, including the class action against NT and WA for stolen wages.
