NEW YORK--(BUSINESS WIRE)--Therium Group Holdings Limited, a leading global provider of litigation, arbitration and specialty legal finance, today announced the launch of a new $430 million fund, pushing its total institutional investments past the $1 billion milestone. The new fund, raised from three global institutional investors, including a sovereign wealth fund, is Therium’s largest to date and will be used to finance litigation and arbitration globally. It follows the $265 million raised in February 2018.
John Byrne, co-founder and CEO of Therium Capital Management Limited said: “We are thrilled to announce the closing of our latest fund, Therium’s largest to date. Raising over $1 billion is an important milestone for the industry and underscores Therium’s leading position in the litigation finance industry globally. Interest from high quality institutional investors is stronger than ever, driven by the rapid growth of the firm, the very strong outlook for our business globally and our track record. We are delighted to have the backing of world leading institutional investors in our new fund and we are very excited about the ongoing high growth opportunity ahead for Therium, which is now in its 11th year.”
Neil Purslow, co-founder and Chief Investment Officer of Therium Capital Management Limited said: “The demand for our litigation and arbitration funding continues at pace across all of our jurisdictions. The benefits of funding are becoming increasingly widespread across the world; from claimants that would not otherwise have the capital to launch their claims, to the largest corporates that use funding to transform claims into financial assets. In line with this, we are seeing a steady rise of single case funding as well as litigation and arbitration financing across multiple dispute types.”
Eric Blinderman, CEO of Therium Capital Management U.S.A., who leads the firm’s U.S. operations, said: “The confidence that institutional investors continue to place in Therium is indicative of the market demand we have created for our litigation funding solutions. In the U.S. market, this includes both the funding of litigation matters and helping law firms to leverage potentially lucrative case portfolios to provide capital for growth and operations. As litigation finance continues to evolve into a mainstream asset class, we continually seek creative, responsible solutions that address the capital needs of the legal marketplace, and we look forward to continuing to deploy our funding for the benefit of industry participants and our investors.”
Therium will use the new funds to continue to invest in litigation and arbitration cases globally across sectors including financial services, energy and mining, industrials, technology, media and entertainment, and across all forms of commercial litigation and arbitration. Therium invests in a broad range of complex commercial disputes, from securities and shareholder actions, international arbitration, competition and anti-trust cases, through to intellectual property, insolvency and group and class actions. Furthermore, demand for Therium’s specialty legal finance solutions from corporates and law firms continues apace across jurisdictions. The new fund is expected to be deployed within two years.
Therium recently announced the opening of an office in Australia, to serve Asia-Pacific, where the firm has been funding cases since 2011. It also has investment teams in the U.S., UK, Germany, Spain and Norway.
In November 2018, Therium won the ‘Insolvency Litigation Funder of the Year’ award at the Turnaround Restructuring and Insolvency awards in London in recognition of its cross-border insolvency funding expertise and leading track record.
In Chambers and Partners’ inaugural litigation support directory 2018, Therium was ranked as a Tier 1 litigation funder, and Neil Purslow was named a leading individual in the litigation funding industry.
Last month, Therium was ranked as “Excellent” in the 2019 U.S. edition of legal and business directory, Leaders League’s ranking of litigation funders. It was also top ranked in the UK as one of the two “Leading” litigation and arbitration funding firms in the UK.
Case highlights, which are in the public domain, include:
- Sharp and others v Lloyds Banking Group (re Lloyds’s acquisition of HBOS)
- Noel Edmonds v Lloyds Banking Group
- Consumers v VW re Dieselgate
- Road Haulage Association v Truck manufacturers
- Richard Lloyd v Google Inc (re data protection)
- UK retailers v Mastercard and Visa (re interchange fees)
- PCP Capital Partners v Barclays Bank plc
- Bates & Ors v Post Office Ltd
- Atlant Entreprenor v City of Oslo
- Webb v GetSwift Ltd
- Shareholders v Commonwealth Bank of Australia Ltd
Therium is a leading global provider of litigation, arbitration and specialty legal finance active in England and Wales and internationally since 2009. Over that period, Therium has funded claims with a total value exceeding £34 billion including many of the largest and most high profile funded cases. The firm has investment teams in the UK, USA, Australia, Spain, Germany and Oslo, supplementing its resources in its corporate headquarters in Jersey, Channel Islands.
Therium has established a track record of success in litigation finance in all forms including single case litigation and arbitration funding, funding law firms and funding portfolios of litigation and arbitration claims. This track record enabled the firm to raise the then single largest investment into litigation finance of £200 million in 2015. Therium has raised over $1 billion since its foundation, which includes the latest £325 million fund raised in February 2019.
Therium has consistently been at the forefront of innovation in litigation finance, pioneering the combined use of insurance tools alongside funding vehicles, and introducing portfolio funding products into the UK. The firm’s ability to develop innovative funding arrangements and bespoke financial solutions for litigants and law firms complements its unmatched experience and rigorous approach to funding a wide range of commercial disputes throughout the world.