Burford Capitol Generates $41 Mil in Cash in Six Months | via City A.M.

July 9, 2014

City A.M.

Litigation funding firm Burford Capitol reported that it nearly doubled it’s investment portfolio in the first half of 2014, generating $41.9 million in cash by the close of June.

BURFORD Capital, which provides finance solutions for litigation, said yesterday that it had generated $41.9m (£24.4m) in cash from its investment portfolio in the first six months of the year.

This figure represents a 94 per cent increase compared to the same time last year.

The company said its 26 investments in the period generated $173.9m (£101m) in gross investment recoveries and $67m net of invested capital. This produced a 63 per cent net return on invested capital and represented a $27m increase over the net position at the end of June last year.

The company also said it committed $62m of new capital during the first half of 2014.

Boss Christopher Bogart said: “Burford’s performance continues to vindicate our approach to investment selection and the quality of our team.

“Moreover, the volume of new commitments made during the last six months shows clearly the market demand for litigation finance solutions.”

The group’s Aim-listed stock closed up 0.8 per cent at 120.5p.

Burford Capitol Generates $41 Mil in Cash in Six Months | via City A.M.