Throughout 2022, we have witnessed a growing discussion and corresponding action that suggests the global litigation funding market is set to see increased growth. In another sign of this expanding demand for financing, global funder Omni Bridgeway is making waves with an impressive $250 million debt facility that the funder says will allow it to continue servicing an increasingly large portfolio of clients, whilst reducing risk across its investments.
An LFJ Conversation with Michael Kelley, Partner, Parker Poe
Throughout 2022, we have witnessed a growing discussion and corresponding action that suggests the global litigation funding market is set to see increased growth. In another sign of this expanding demand for financing, global funder Omni Bridgeway is making waves with an impressive $250 million debt facility that the funder says will allow it to continue servicing an increasingly large portfolio of clients, whilst reducing risk across its investments.
Speaking with Lawyers Weekly, Andrew Saker, the chief executive of the firm, highlights that this refinancing is just one tool in its arsenal of capital, which includes around $3 billion ready to be strategically deployed. Mr Saker notes that there is an expanding demand for dispute financing, and Omni Bridgeway has also seen recent cases where governments are starting to take part in class action suits. This trend has given the funder plenty of confidence that the market is far from its peak, both in Australia and around the world.
Australian law firm Gilbert & Tobin acted as legal counsel for Omni Bridgeway on this refinancing, with Louise McCoach describing it as not only a significant milestone for the funder, but also a landmark transaction for the market.
