Litigation Cap. Mgmt - Second close of Global Alternative Returns Fund II

Litigation Capital Management

04/10/2022 07:00

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RNS Number : 6172B  Litigation Capital Management Ltd  04 October 2022

4 October 2022

 

Litigation Capital Management Limited

(LCM or the Company)

 

LCM completes second close of LCM Global Alternative Returns Fund II (Fund II)

at US$273m of targeted US$300m

 

 

Litigation Capital Management Limited (AIM:LIT), a leading international
alternative asset manager of disputes financing solutions, is pleased to
announce the second close of its Global Alternatives Returns Fund II ('Fund
II').

 

LCM has admitted a large UK based pension fund and a European based pension
fund complementing Fund II's high calibre, blue chip existing investor base.
Fund II's existing investors include all investors in LCM Global Alternative
Returns Fund I, which comprises a large endowment of a US University and the
asset management division of a global investment bank. Completion of this
second close of Fund II take our allocations to date to 91% of the targeted
US$300m. LCM is well progressed with a number of prospective investors who are
working towards investing at final close towards the end of the calendar year.

 

In accordance with the Company's strategy and as previously communicated to
the market our second Fund supplements the Company's balance sheet capital and
allows LCM to expand and diversify its portfolio under management.

 

Patrick Moloney, CEO of LCM, commented: "We are pleased to have fully
committed our US$150m first Fund and with the progress of commitments for Fund
II to date. We are also encouraged by the quality of new investors and their
desire to form a relationship with LCM through investing in future funds. The
increase in access to third party capital is timely given how the market
conditions are increasing the demand for our capital"

 

Enquiries

 Litigation Capital Management             c/o Alma PR
 Patrick Moloney, Chief Executive Officer

 Canaccord (Nomad and Joint Broker)        Tel: 020 7523 8000
 Bobbie Hilliam

 Investec Bank plc (Joint Broker)          Tel: 020 7597 5970
 David Anderson

 Alma PR                                   Tel: 020 3405 0205
 Justine James                             lcm@almapr.co.uk
 Kieran Breheny

 

NOTES TO EDITORS

 

Litigation Capital Management (LCM) is an alternate asset manager specialising
in disputes financing solutions internationally, which operates two business
models. The first is direct investments made from LCM's permanent balance
sheet capital and the second is third party fund management. Under those two
business models, LCM currently pursues three investment strategies:
Single-case funding, Portfolio funding and Acquisitions of claims. LCM
generates its revenue from both its direct investments and also performance
fees through asset management.

LCM has an unparalleled track record driven by disciplined project selection
and robust risk management.

Currently headquartered in Sydney, with offices in London, Singapore, Brisbane
and Melbourne, LCM listed on AIM in December 2018, trading under the ticker
LIT.

www.lcmfinance.com (http://www.lcmfinance.com/)

 

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