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Investment returns rise to 63% on invested capital

Burford Capital Limited (“Burford”), the world’s largest provider of investment capital and risk solutions for litigation, intends to release its interim financial statements for the six months ended 30 June 2014 on 4 September 2014.

In advance of that release, Burford provides the following performance update for the six month period ended 30 June 2014 (the “period”):

  • Continued strong investment returns:  Since inception, 26 investments have generated $173.9 million in gross investment recoveries and $67 million net of invested capital, producing a 63% net return on invested capital. This represents a 67% increase, $27 million, over the net position at 30 June 2013
  • Material increase in cash generation: Burford generated $41.9 million of cash from the investment portfolio in the period, an increase of 94% over the comparable 2013 period
  • Ongoing demand for Burford’s capital reflected in $62 million of new capital committed in the period, a five-fold increase over the comparable 2013 period
  • Successful completion of an innovative financing transaction with Rurelec PLC, a publicly-traded power generation company, that provided recourse financing linked to an arbitration claim, which provided an $11 million profit to Burford (a 73% return and a 34% IRR) while providing Rurelec with expansion capital

Christopher Bogart, Burford’s CEO, commented: “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 – and the success of the Rurelec transaction we announced last month shows our continued market leadership in innovating to meet that demand.”