Aviva Will, co-chief operating officer and David Perla, managing director, at Burford Capital. Courtesy Photo Burford Capital's Profits Dip for 2nd Straight Year, but Its Business With Corporations Grows
Burford officials pointed to CFOs being increasingly open to working directly with litigation funders.
March 24, 2021 at 03:33 PM
4 minute read
The original version of this story was published on The American Lawyer
Burford Capital saw its profits dip for the second straight year in 2020, according to the litigation funding giant's latest financial report, while leadership emphasized that the company's existing portfolio had its best year ever. Meanwhile, more corporations are turning directly to the company for funding arrangements, leadership said.
Amid stalled litigation during the pandemic, Burford's operating profits dropped by 6% to hit $248.9 million in 2020, after plunging by 21% the previous year. The funder's total income declined by a slimmer 1% margin, hitting $353 million.
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