Litigation funder launches with US$345m war chest

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Litigation funder launches with US$345m war chest

A new litigation funder has been launched in Chicago and it has a US$345m war chest to back it.

GLS Capital has been launched by David Spiegel, Adam Gill, and Jamison Lynch. The firm said that the team is “experienced and tested” in litigation finance, having previously managed more than US$400m in investments at two of the world’s largest litigation financers.

Spiegel, the managing director of the new firm, as well as Gill and Lynch, come from Burford Capital, which they left in 2017. That was less than a year after the funder acquired Gerchen Keller Capital, where Spiegel and Gill were the first employees hired in 2013 and which Lynch joined in 2016.

GLS said that it invests in complex commercial litigation and arbitration. It also invests in intellectual property disputes in both the technology and pharmaceutical industries. It said that its products will target businesses and law firms looking to better manage litigation and balance-sheet risks.  

“Our fundraising significantly exceeded our initial target size, reflecting a high level of investor interest in our ability to be successful,” Spiegel said.

GLS is backed by institutional investors, which includes global financial institutions, endowments, foundations, and family offices, it said.

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