Business Wire

Therium Completes First Close of New £300 Million Fund from Global Institutional Investors

Del

Therium Group Holdings Limited, a leading global provider of litigation finance, today announced that it has completed the first close of its new £300 million fund dedicated to litigation finance. The first close is at £200 million with a further £100 million expected before final close. This will be Therium’s largest fund.

The investors include both Therium’s existing major investor, which is increasing its commitment, and the introduction of selected global institutional investors who have the scale to grow with the firm.

John Byrne, Co-Founder and CEO of Therium Capital Management Limited, said: “We are delighted to announce the first close of our largest fund, which marks a further milestone in Therium’s growth story. The track record of deployment and returns from our past funds has led to a substantial and increasing interest in Therium from a wide range of investors, especially institutional investors, and we continue to see very significant growth potential in litigation funding, globally. We are delighted to work with some of the largest and most sophisticated global investors and we welcome them as our partners in the continued development of the firm and the asset class.”

The new fund follows Therium’s £200 million fund raised in April 2015, which at the time was the largest single investment in the litigation funding sector, as well as several minor fundraises totalling £55 million.

Strong demand for Therium’s litigation finance offerings has meant that Therium deployed the £200 million raise more quickly than expected, allowing the firm to return to investors earlier than originally planned. The previous fund backed high profile cases including the shareholder group claim against Lloyds Banking Group and several former directors for the acquisition of HBOS in 2008; the cartel action for the Road Haulage Association against several truck manufacturers; PCP Capital Partners’ claim against Barclays related to a $3 billion loan to Qatar in 2008; a group claim against Visa and Mastercard relating to interchange fees; the emissions litigation in the UK against Volkswagen for over 45,000 car owners; the claim for iPhone users against Google, Inc. relating to the ‘Safari Workaround’; and most recently Noel Edmonds’ claim against Lloyds Banking Group in relation to the HBOS Reading scandal.

Neil Purslow, Co-Founder and Chief Investment Officer of Therium Capital Management Limited, said: “Demand for litigation funding from Therium since we launched our last major fund has exceeded our expectations and we have transformed the scale of our operations over the past few years in order to meet that demand. Over that period, Therium has enjoyed an unprecedented scale of opportunity in funding single cases in all of our markets. At the same time, we have innovated with portfolio products for law firms and corporates and with the acquisition of claims, judgments and awards. Our new investor base provides the platform that we need to be able to deliver all of these products to our clients, and we are excited to be partnering with them in this rapidly developing space.”

Therium will use the new funds to continue to invest in litigation cases globally across its core sectors of financial services, energy and mining, and 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. The new fund is expected to be deployed within two years.

Since April 2015, Therium has expanded its operations significantly, with teams launching in the USA, Spain, Norway and Germany.

Therium was advised on the establishment of its new fund by Haitong Securities, Simmons & Simmons, Ogier and Seward & Kissel LLP.

ENDS

About Therium

Since its foundation in 2009, Therium has been at the forefront of the litigation finance industry, pioneering products such as the combined use of insurance tools alongside funding vehicles, and introducing portfolio funding into the UK. Therium has also been at the vanguard of expanding litigation funding internationally: it was the first European funder to launch a full service business in the USA, headquartered in New York, in 2016; it introduced litigation funding to Scandinavia when it opened in Oslo the same year; and the firm was the market’s first UK player to establish a full service business in Germany, in Dusseldorf in March 2017.

Therium is a founder member of the Association of Litigation Funders of England and Wales (ALF), the self-regulatory body regulating the litigation funding industry in England and Wales. Therium is supportive of the ALF and complies with its Code of Conduct.

www.therium.com

Contact information

Media Enquiries:
Desiree Maghoo
Questor Consulting
+44 (0)7775 522740
dmaghoo@questorconsulting.com
or
Simon Barker
Questor Consulting
+44(0)7866 314331
sbarker@questorconsulting.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Cushman & Wakefield To Acquire Its Irish Affiliate From Sherry FitzGerald Group16.7.2018 13:49Pressemelding

Global real estate services firm Cushman & Wakefield today announces it has entered into a definitive agreement to acquire the commercial property arm of Sherry FitzGerald Group in the Republic of Ireland. The deal is expected to complete in early September 2018. Cushman & Wakefield already has a 20% stake in the Irish commercial property business which operated as its exclusive affiliate in the Republic – rebranding two years ago as Cushman & Wakefield Ireland. The firm, which has more than 100 commercial property professionals and offices in Dublin, Limerick and Galway, will now be fully integrated into Cushman & Wakefield, one of the world’s largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. Managing Director Aidan Gavin becomes Cushman & Wakefield’s Head of Ireland and will also sit on the firm’s UK & Ireland Executive Committee. Cushman & Wakefield will maintain its close affiliate relationship with the wider Sherry FitzGerald G

Fischer & Schickendantz and Solution Alliance SRL Adopt Andersen Brand in Uruguay16.7.2018 13:30Pressemelding

Fischer & Schickendantz, led by Juan Federico Fischer, and Solution Alliance SRL, led by Juan Ignacio Troccoli, have rebranded this week as Andersen Tax & Legal, a member firm of Andersen Global. The firm, based in Montevideo, entered a Collaboration Agreement with Andersen Global in September 2017, and is now a fully integrated member of the global verein. Juan Federico Fischer remarked, “Andersen is a symbol of quality and is recognized worldwide by both clients and professionals, and is ahead of the game in terms of creating a global firm with integrated tax and legal services. We are truly excited to officially be part of the team.” “Throughout their time with us as a collaborating firm and now a member firm, the team in Uruguay has demonstrated a deep commitment to providing seamless, best-in-class service. Additionally, Juan Federico is a member of Andersen Global’s Latin American regional board, and is the true embodiment of the values that our organization represents. I look fo

Norsk Titanium Produces Space Demonstration Hardware16.7.2018 11:00Pressemelding

Norsk Titanium (Norsk), the world’s first FAA-approved supplier of aerospace-grade, additive manufactured, structural titanium components, has produced an Expansion Nozzle demonstrator in support of the European Space Agency’s Technology Research Programme (TRP). The TRP is an European Space Agency (ESA) technology development effort supporting all of ESA’s fields of activity across the entire spectrum of technical disciplines, providing the technological nucleus for most future developments. Norsk was awarded a TRP contract with the ESA in 2014 to explore the application of Norsk’s Rapid Plasma Deposition™ (RPD™) process to space applications. Through the TRP contract, Norsk has refined its material characterization and quality assurance processes, while providing ESA valuable insight into the application of additive processes to their unique needs. The culmination of this effort was the production of an Expansion Nozzle demonstrator. The Expansion Nozzle utilizes the latest RPD™ desi

CALVIN KLEIN Fragrances Announces Lupita Nyong'o and Saoirse Ronan as Faces of CALVIN KLEIN WOMEN16.7.2018 11:00Pressemelding

Calvin Klein, Inc., a wholly owned subsidiary of PVH Corp. [NYSE:PVH], and Calvin Klein Fragrances, a division of Coty Inc. [NYSE:COTY], today revealed the worldwide print advertising campaign for the new fragrance CALVIN KLEIN WOMEN , the first CALVIN KLEIN fragrance to be developed under the vision of Chief Creative Officer, Raf Simons. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180716005092/en/ CALVIN KLEIN WOMEN The campaign features Lupita Nyong'o and Saoirse Ronan. Award-winning actors and voices of their generation, both women are universally recognized for their unique talent, creativity, intelligence and strength of character. Directed by artist Anne Collier with creative direction from Lloyd & Co., the campaign champions iconic women and celebrates heroines of contemporary culture. Lupita and Saoirse are featured in the print campaign, in a pair of striking and direct portraits, positioned next to chosen figure

Bank of America Reports Second-Quarter 2018 Financial Results16.7.2018 10:45Pressemelding

Bank of America reported its second-quarter 2018 financial results today. The news release, supplemental filing and investor presentation can be accessed in the following ways: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180716005280/en/ Bank of America newsroom at https://newsroom.bankofamerica.com Bank of America Investor Relations website at http://investor.bankofamerica.com Business Wire’s news webpage at http://www.businesswire.com/portal/site/home/news Investor Conference Call information Chief Executive Officer Brian Moynihan and Chief Financial Officer Paul Donofrio will discuss the financial results in a conference call at 8:30 a.m. ET today. For a listen-only connection to the conference call, dial 1.877.200.4456 (U.S.) or 1.785.424.1732 (international), and the conference ID is 79795. Please dial in 10 minutes prior to the start of the call. Investors can also listen to a live audio webcast of the conference ca

Bank of Singapore is the First Singapore Private Bank to Receive Regulatory Approval to Open a Wealth Management Subsidiary in Luxembourg16.7.2018 09:36Pressemelding

Bank of Singapore today announced that it has been granted an investment company licence to operate a wealth management subsidiary in Luxembourg – a first for a Singapore private bank. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180716005252/en/ (Photo: BOSWM) Bank of Singapore, through this new subsidiary, BOS Wealth Management Europe Société Anonyme (S.A.), will be able to offer a comprehensive range of customised private banking solutions and investment advisory services to its ultra-high and high net worth clients in the European Economic Area (“EEA”) and the United Kingdom (“UK”). The EEA comprises the European Union (EU) countries and Iceland, Liechtenstein and Norway. Currently, Bank of Singapore serves its European clients from its Singapore headquarters and through its parent company OCBC Bank’s London office. There has been robust growth in assets under management from EEA clients as they hold Singapore in high