Litigation Funder Longford Raises $500M as Industry Stays Flush
Longford Capital Management LP on Monday announced the latest headline figure in the litigation finance industry. Longford said it raised $500 million for a second fund that will dwarf the initial $56.5 million fund that the Chicago-based firm raised three years ago.
September 18, 2017 at 01:22 PM
4 minute read
The figures just get bigger and bigger. Call it the litigation funding industry's law of large numbers.
Longford Capital Management LP announced Monday the latest headline figure, $500 million, which is how much the Chicago-based firm raised from investors for a second fund that will dwarf the initial $56.5 million fund that it raised three years ago.
Longford said it had already invested $100 million of the new fund, which it has three years to spend backing plaintiffs in antitrust litigation, commercial cases and intellectual property disputes. In a sign of the investor communities' growing acceptance of litigation funding, Longford's second fund pulled from 195 investors, compared with 34 for its first fund, according to corporate disclosure documents.
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