Jersey, Channel Islands, 25 March, 2019. Therium Group Holdings Limited, a leading global provider of litigation, arbitration and specialty legal finance, today announced that it has exceeded an important $1billion milestone of funds raised, following a latest fund raise of £325 million from three global institutional investors, including a sovereign wealth fund, to finance litigation and arbitration globally. It is Therium’s largest fund and follows the £200 million raised in February 2018.
John Byrne, Co-Founder and CEO of Therium Capital Management Limited, said: “We are thrilled to announce the closing of our latest fund, Therium’s largest to date. Raising over $1 billion is an important milestone for the industry and underscores Therium’s leading position in the litigation finance industry globally. Interest from high quality institutional investors was stronger than ever, driven by the rapid growth of the firm, the very strong outlook for our business globally and our track record. We are delighted to have the backing of world leading institutional investors in our new fund and we are very excited about the ongoing high growth opportunity ahead for Therium, which is now in its 11th year.”
Neil Purslow, Co-Founder and Chief Investment Officer of Therium Capital Management Limited, said: “The demand for our litigation and arbitration funding continues at pace across all of our jurisdictions. 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 recently announced the opening of an office in Australia, to serve Asia-Pacific, where the firm has been funding cases since 2011. The firm also has investment teams in the UK, USA, Germany, Spain and Norway. Therium was the first commercial litigation funder to have operations on the ground in Germany and Scandinavia and it was the first European firm to launch a full service business in the US.
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. Furthermore, demand for Therium’s specialty legal finance solutions from corporates and law firms continues apace across jurisdictions. The new fund is expected to be deployed within two years.
In November 2018, Therium won the ‘Insolvency Litigation Funder of the Year’ award at the Turnaround Restructuring and Insolvency awards in London in recognition of its cross border insolvency funding expertise and leading track record.
In Chambers and Partners’ inaugural litigation support directory 2018, Therium was ranked as a Tier 1 litigation funder, and Neil Purslow was named a leading individual in the litigation funding industry. Therium is a founder member of the Association of Litigation Funders of England and Wales.
Last month, Therium Capital Management was top ranked as one of the two “Leading” litigation and arbitration funding firms in the UK by legal and business directory Leaders League, in their 2019 ranking of litigation funding. Therium was also ranked as “Excellent” in the 2019 US ranking
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
- Road Haulage Association v Truck manufacturers
- Richard Lloyd v Google Inc (re data protection)
- UK retailers v Mastercard and Visa (re interchange fees)
- PCP Capital Partners v Barclays Bank plc
- Bates & Ors v Post Office Ltd
- Atlant Entreprenor v City of Oslo
- Webb v GetSwift Ltd
- Shareholders v Commonwealth Bank of Australia Ltd
Therium is a leading global provider of litigation, arbitration and specialty legal finance active in England and Wales and internationally since 2009. Over that period, Therium has funded claims with a total value exceeding £34 billion including many of the largest and most high profile funded cases. The firm has investment teams in the UK, USA, Australia, Spain, Germany and Oslo, supplementing its resources in its corporate headquarters in Jersey, Channel Islands.
Therium has established a track record of success in litigation finance in all forms including single case litigation and arbitration funding, funding law firms and funding portfolios of litigation and arbitration claims. This track record enabled the firm to raise the then single largest investment into litigation finance of £200 million in 2015. The latest raise builds upon the previous raise of £200m which closed in only February 2018.
Therium has raised over $1 billion since its foundation, which includes the latest £325 million fund raised in March 2019.
Therium has consistently been at the forefront of innovation in litigation finance, pioneering the combined use of insurance tools alongside funding vehicles, and introducing portfolio funding products into the UK. The firm’s ability to develop innovative funding arrangements and bespoke financial solutions for litigants and law firms complements its unmatched experience and rigorous approach to funding a wide range of commercial disputes throughout the world.