Burford Capital set for rich rewards from legal investments - Business - Evening Standard
       

Burford Capital set for rich rewards from legal investments

Burford Capital, the company chaired by City grandee Sir Peter Middleton which invests in commercial legal actions in the hope of winning a share of the victory spoils, today said it had already committed about half of the $130 million (£83 million) it raised in its London flotation last year to back cases.

One has produced a jury verdict of $110 million which, if upheld and collected, would mean Burford pockets $44 million.

The company is invested in 14 commercial legal actions of varying risk profiles.

Middleton revealed that the company has put $4 million into one particularly high-risk case categorised by the group as a "special situations" matter.

Profits before taxes came in at $1.1 million since the IPO which in effect launched the company.

Chief executive Christopher Bogart said: "We continue to see a strong pipeline of investment opportunities and are excited about what the future holds."

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