LONDON, 10 FEBRUARY 2022 – BALANCE LEGAL CAPITAL LLP, a London-based provider of litigation and arbitration finance, today announced it has raised a further GBP 130M from 8 institutional investors in the first close for a new UK fund, bringing Balance’s total AUM to over GBP 250M. Balance is targeting Q2 2022 for a second and final close.
The investors in the new fund include repeat investors from Balance’s prior vehicles plus further global institutional investors located across the UK, US, Switzerland, the Nordics, and Australia. In addition to its discretionary capital pools, Balance has direct access to significant further co-investment capital from its investors, enabling it to fund the largest litigation budgets.
As ever, Balance has delegated authority over its litigation investment decisions. Balance will use the new funds to continue to invest in commercial disputes and class actions with a focus on disputes in common law jurisdictions (ex. USA), particularly the UK and Australia. Balance invests across all sectors and commercial claim types including contract, tort, shareholder disputes, joint venture disputes, competition, class actions and more.
Robert Rothkopf, Managing Partner of Balance Legal Capital, said “We are thrilled to announce the launch of our new fund, which will further enhance our ability to support claimants and law firms in litigation proceedings. This is the second multi-investor fund we have launched in two years and demonstrates the strong demand for our capital. We’re grateful to our investors for continuing to back us in our new fund, to our high-calibre team at Balance, and to the law firms, barristers and insolvency practitioners we partner with to obtain justice for businesses and individuals.”
Balance Legal Capital LLP was advised on the establishment of its new fund by Herbert Smith Freehills LLP, London.
Balance Legal Capital was founded in 2015 by Robert Rothkopf (former Herbert Smith Freehills litigator) and Simon Burnett (a former Freshfields litigator). Its investment committee includes Lord David Gold (former global senior partner of Herbert Smith and head of disputes) and Ian Terry (former managing partner of Freshfields and global head of disputes). Fraser Shepherd (former litigation partner at Gilbert + Tobin, Sydney), Donny Surtani (former litigation partner at Herbert Smith Freehills) and Nick Gardner (former head of Intellectual Property Litigation at Herbert Smith) are senior advisers to the investment committee.
Example cases funded by Balance include (1) the audit negligence claim by the Patisserie Valerie Group (in liquidation) against Grant Thornton UK LLP (solicitors – Mishcon de Reya LLP); and (2) group proceedings for vehicle owner clients of Leigh Day in the emissions claims against BMW, Vauxhall, Peugeot, Citroen for selling diesel vehicles allegedly containing unlawful emissions defeat devices.
Balance Legal Capital LLP is a member of the Association of Litigation Funders of England and Wales (ALF) where Robert Rothkopf is a board member. Balance Legal Capital LLP is also a founder member of the Association of Litigation Funders of Australia (ALFA) where Simon Burnett is a board member. Balance Legal Capital LLP is authorised and regulated by the UK’s Financial Conduct Authority and by the Australian Securities & Investments Commission.
Patrick Crisp from our Sydney office has moderated Episode 11 of the Association of Litigation Funders of Australia (AALF) Webinar Series. This episode, titled The Global Market for ATE Insurance in 2024, brings together industry leaders to discuss the evolving trends and challenges in After-the-Event (ATE) insurance.
Robert Rothkopf provided a funder’s view on group and class action proceedings in the UK for the Houthoff Class Action Survey 2024. The survey offers perspectives on class action trends in 12 jurisdictions.
Robert’s predictions for the future of class actions in the UK included the expansion of claim types that will be permitted under the opt-out jurisdiction, and confirmation of the court’s jurisdiction to order defendants to pay litigation funding costs on top of damages where defendant wrongdoing and/or litigation conduct is egregious, instead of claimant’s meeting funding costs from compensation.
Thanks to Houthoff for their initiative in leading this important research.
Balance is proud to share that we are supporting the Justice and Equity Centre (formerly the Public Interest Advocacy Centre) in its pursuit of strategic social justice litigation.
Balance is proud to support Velitor Law in their pursuit of landlords and insurance brokers for secret commissions.
Balance is proud to have been ranked again in the Chambers and Partners 2024 Litigation Support Guide in both the UK and Australia.
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Balance is a member of the Association of Litigation Funders of England & Wales. Our membership of the ALF requires us to satisfy on an ongoing basis stringent financial and capital adequacy tests and to comply with the ALF Code of Conduct.
Balance is a founding member of the Association of Litigation Funders of Australia, and a member of ILFA, the International Legal Finance Association.
Balance Legal Capital LLP is authorised and regulated by the UK’s Financial Conduct Authority.
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