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

Tory Burch Names Pierre-Yves Roussel Chief Executive Officer11.12.2018 21:26Pressemelding

Tory Burch, LLC, today announced it has named Pierre-Yves Roussel Chief Executive Officer, starting early 2019. A longtime LVMH executive, Mr. Roussel will be based out of Tory Burch’s New York headquarters; he will join and report to the Company’s board of directors. In partnership with Ms. Burch, he will lead and implement the company’s global strategy with a focus on operations. “There are very few leaders in the industry who have both a commercial track record and a deep admiration for the creative process. I respect what he has built at LVMH and value the way he thinks about business, luxury and the fashion industry as a whole. He also shares my belief in the importance of a culture-led company. We have a strong management team in place and Pierre-Yves is a natural fit as we continue to focus on long-term growth and global expansion,” said Tory Burch, who is currently Chief Executive Officer and will assume the role Executive Chairman and Chief Creative Officer. “I’m very excited

United Nations Climate Action Award Goes to Germany for the First Time11.12.2018 19:00Pressemelding

Within the context of the United Nations Framework Convention on Climate Change, two ProVeg projects were awarded the Momentum for Change Climate Action Award 2018 in the category Planetary Health. One of these is the health promotion project Aktion Pflanzen-Power, jointly initiated with BKK ProVita. ProVeg and its partner received the award for their work in schools. It marks the first time that this award has gone to Germany. The award ceremony took place yesterday in the Polish city of Katowice as part of the 24th UN Climate Change Conference. ProVeg and BKK ProVita promote children’s health and climate action Aktion Pflanzen-Power aims to improve the availability and quality of vegan and vegetarian dishes in schools. Together with BKK ProVita, ProVeg has so far reached 24,800 students at 41 schools throughout Germany on the subject of wholesome, plant-based nutrition as part of the health promotion project. Healthy nutrition with Aktion Pflanzen-Power Andreas Schöfbeck, member of t

Thales and Gemalto are granted regulatory clearance by the European Commission11.12.2018 17:01Pressemelding

Regulatory News: Reference is made to the joint press release by Thales (Euronext Paris: HO) and Gemalto (Euronext Amsterdam and Paris: GTO) dated 27 March 2018 in relation to the launch of the recommended all-cash offer by Thales for all the issued and outstanding shares of Gemalto (the “Offer”), the publication of the Offer Document, and the joint press release of Thales and Gemalto dated 10 August 2018 in relation to the further extension of the Acceptance Period. Terms not defined in this press release will have the meaning as set forth in the Offer Document. Thales and Gemalto announce today that they have been granted merger control Regulatory Clearance by the European Commission, following Thales’s commitment to divest its general purpose hardware security modules (GP HSM) business globally1 to a suitable purchaser. This clearance is effective immediately. Together with the merger control clearances obtained in China, Israel, South Africa and Turkey, and clearances relating to f

Starr Insurance Companies Expands Aviation Insurance Operations to Brazil11.12.2018 15:43Pressemelding

Starr Insurance Companies today announced that Starr International Brasil Seguradora S.A. (“Starr Brazil”) has been granted a local license to offer aviation insurance. “We are thrilled to be adding aviation capability in an important, growing economy like Brazil,” stated Steve Blakey, president and chief executive officer for Starr Insurance Holdings, Inc. “As a worldwide leader in aviation insurance solutions, we are constantly seeking new opportunities and markets to meet the growing needs of the aviation and aerospace industry around the globe.” Fernanda Strachino, aviation specialist underwriter, has joined Starr Brazil to head the new aviation division. Fernanda brings more than 16 years’ of experience in the aviation and insurance market. Starr Brazil will offer a variety of aviation coverages, including: Aircraft Hull & Liability; Spare Parts; Third-Party Legal Liability; Corporate Non-Owned Aircraft Liability; General Liability; RETA Insurance (Mandatory Liability), Hangarkeep

Andersen Global Continues Growth in United Kingdom With Claritas Tax Limited11.12.2018 14:30Pressemelding

Today, Andersen Global expanded its reach in the United Kingdom with the addition of Claritas Tax Limited, a tax advisory and compliance services firm based in Birmingham, the second largest city in the country. Claritas is the fourth firm collaborating with Andersen Global in the UK. “Adding a sought-after firm like Claritas is not only a logical extension for Andersen Global, but it broadens our offering in the UK. Their practice focuses on corporation tax, R&D tax reliefs, mergers and acquisitions, private equity and venture capital in addition to serving individuals,” said Mark Vorsatz, Andersen Global Chairman and Andersen Tax LLC CEO. “Iain Wright and his team enhance our already robust core competences in the UK, a critical market for our clients, and we look forward to working with Claritas on a number of upcoming corporate opportunities.” Founded in 2012, Claritas Tax Limited is an advisory led business that provides a full range of tax advisory and compliance services to entr

Seoul Semiconductor Wins Patent Litigation against Everlight in Germany and Is Awarded Statutory Litigation Costs11.12.2018 14:00Pressemelding

Seoul Semiconductor Co., Ltd. (KOSDAQ:046890) (“Seoul”), a leading global innovator of LED products and technology, announced that it won a patent litigation against Everlight Electronics Co., Ltd. (“Everlight”) in Germany. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181211005233/en/ Seoul Semiconductor's Headquarters in Korea (Photo: Business Wire) The patent involved in this litigation relates to an LED package structure for thermal dissipation. Everlight purchased this patent from a U.S. company in 2017, and subsequently brought a patent lawsuit against Seoul in the Manheim Court of Germany. In December 2018, however, the Manheim Court ruled in favor of Seoul and ordered that Everlight, as the losing party, should bear the statutory costs of the court proceeding. In the United Kingdom, Seoul had already won a patent litigation against Everlight earlier this year. At that time, the UK Patent Court also ordered that Ever