Burford Capital Ltd. announced Tuesday another banner financial year, with profit after tax rising 75 percent from the year prior as the publicly traded litigation funder committed $378 million to new investments, a yearly increase of 83 percent.
The results by Burford, which in December spent $160 million to buy its biggest rival, Chicago-based Gerchen Keller Capital LLC, reinforce the growing demand among law firms and clients to use third-party money to pursue claims or to finance payouts from judgments. Income at Burford, which hit $163.4 million last year, has more than tripled since 2012.
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