Just two months after the two largest litigation funders, Burford Capital Ltd. and Gerchen Keller Capital LLC, merged to create an industry behemoth, another litigation funder is taking a different route in an effort to scale up its operations in the U.S.
Australia’s IMF Bentham Ltd. announced Tuesday a deal to invest in suits alongside a unit of New York-based investment giant Fortress Investment Group LLC, which oversees about $70 billion in assets. The deal will initially see Fortress Credit Advisors LLC invest $100 million in a new entity operated by Bentham, which will put in $33 million. The deal can grow to $200 million, with Fortress’ investment expanding to $150 million and Bentham’s to $50 million.
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