Burford Capital plans listing to raise 200m to fund legal cases
COMMERCIAL dispute financier Burford Capital yesterday said it plans to float on London’s Aim market by placing shares worth up to £200m.
The investment company, registered in Guernsey, is headed by Sir Peter Middleton, the former Treasury official and chairman of Barclays.
Dealings are expected to take place on or around 16 October the company said.
Burford Capital will create and manage a portfolio of dispute financing investments, focusing on commercial disputes in the US in the short term as well as international arbitration matters.
The company expects proceeds from the placing to be fully invested within 18 to 24 months.
Fox-Pitt, Kelton has been appointed sole bookrunner, nominated adviser and broker to the company. Execution Limited has been appointed co-lead manager.
Christopher Bogart, principal of Burford Group, investment adviser to the company, said: “We are delighted to be creating a new listed fund for investors seeking access to dispute finance, an asset class capable of generating highly attractive returns irrespective of the performance of equity markets”.