25 Mar 2019

Therium launches $430 million global fund

Fund to finance litigation and arbitration surpasses $1 billion milestone in global institutional investments.

Filipe Matos Frazao

Therium Group Holdings Limited, a global provider of litigation, arbitration and specialty legal finance, has announced the launch of a new $430 million fund, pushing its total institutional investments past the $1 billion milestone.

Important milestone

The new fund, raised from three global institutional investors, including a sovereign wealth fund, is Therium’s largest to date and will be used to finance litigation and arbitration globally. It follows the $265 million raised in February 2018. John Byrne, co-founder and CEO of Therium Capital Management Limited said the fund, Therium’s largest to date, raising over $1 billion ‘is an important milestone for the industry.’ He added, ‘interest from high quality institutional investors is stronger than ever.’ Neil Purslow, co-founder and chief investment officer of Therium Capital Management Limited said ‘the benefits of funding are becoming increasingly widespread across the world; from claimants that would not otherwise have the capital to launch their claims, to the largest corporates that use funding to transform claims into financial assets. In line with this, we are seeing a steady rise of single case funding as well as litigation and arbitration financing across multiple dispute types.’

Therium will use the new funds to continue to invest in litigation and arbitration cases globally across sectors including financial services, energy and mining, industrials, 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. Therium recently announced the opening of an office in Australia, to serve Asia-Pacific, where the firm has been funding cases since 2011. It also has investment teams in the US, UK, Germany, Spain and Norway. Case highlights, which are in the public domain, include Sharp and others v Lloyds Banking Group (re Lloyds’s acquisition of HBOS), Noel Edmonds v Lloyds Banking Group, Consumers v VW re Dieselgate, Richard Lloyd v Google Inc (re data protection), and, Shareholders v Commonwealth Bank of Australia Ltd.