UK Hedge Fund Raises Another $47M to Invest in US Commercial Litigation
A hedge fund based in the United Kingdom has just raised another $47 million that may now be invested in commercial litigation cases in the United States.
Juridica Investments Limited helps fund only major commercial litigation, and was behind 17 large cases, mostly in the U.S., as of last year, attorney Richard Fields, who serves as the company’s chief executive officer, tells the Am Law Daily. Fields was formerly a partner at Swidler Berlin and Dickstein Shapiro.
None of the cases is disclosed, but one last year reportedly paid off and, with the repayment of a law firm loan, earned a 4.6 percent dividend for Juridica investors, the law blog recounts.
With the increased interest in alternative billing arrangements and spreading risk that was sparked by the global economic recession, Juridica finds more general counsels are willing to lend a favorable ear to its offerings, Fields says. “Having an outside investor that takes an equity piece is not that big a leap.”
