Burford Capital raises over $1B in three months after closing new $350M fund

Jun. 13, 2022 11:48 AM ETBurford Capital Limited (BUR)By: Liz Kiesche, SA News Editor

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  • Burford Capital (NYSE:BUR) has raised more than $1B in three months, with the closing of its $350M Burford Alternative Income Fund II, a private fund focused on post-settlement investments.
  • The new fund follows a recent $360M bond issue and the closing of a new $360M pre-settlement investment fund. BAIF II will invest in settled litigation matters, monetizing a claimant's settlement, and other associated legal receivables, the company said.
  • Its investment strategy will mimic the Burford Alternative Income Fund founded in 2019 and BCIM Credit Opportunities LP, founded in 2014, which are intended to help clients manage the delays that occur between when parties agree to a settlement and when they get paid.
  • BAIF II's investment period runs until Sept. 11, 2025, with a multiyear harvest period thereafter. BAIF II will generally pay management fees of 1.5% of invested capital, with performance fees of 12.5% after a 5% preferred return with a full catch-up, the company said.
  • In April, Burford Capital priced its upsized $360M debt offering

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