As the litigation funding market continues to experience growth in major markets, as well as potential growth in emerging markets, established funders at the top of the industry are reaping the benefits. Litigation Capital Management (LCM) is an example, having recently reported strong financial results for the year with a growth asset portfolio in hand.
An LFJ Conversation with Michael Kelley, Partner, Parker Poe
As the litigation funding market continues to experience growth in major markets, as well as potential growth in emerging markets, established funders at the top of the industry are reaping the benefits. Litigation Capital Management (LCM) is an example, having recently reported strong financial results for the year with a growth asset portfolio in hand.
A new article by Proactive summarises LCM’s latest financial reporting, as the Australian funder stated it had seen assets under management grow by 23 per cent by the end of June, followed by a further rise to end September. With over A$452 million in assets, the company sees continued growth on the horizon, bolstered by profits of A$20.2 million for this financial year, once again an increase of 23 per cent.
Patrick Moloney, chief executive at LCM, highlighted that despite the trailing difficulties of the pandemic, the funder has been pleased to see ongoing growth for the business and expects demand to only further increase in the coming year, as the industry is well-placed to benefit from the current economic climate. LCM also stated that its Global Alternatives Return Fund I has been totally committed, with fundraising continuing for the second of these funds.
