Business
Expansion and Further Extension of SWF Arrangement
Expansion and Further Extension of SWF Arrangement.
About this update from Burford Capital Limited
[{"type":"text","content":"\n\n \n9 October 2023\n \n \nBURFORD CAPITAL EXPANDS AND FURTHER EXTENDS SOVEREIGN WEALTH FUND ARRANGEMENT\n \nBurford Capital Limited (\"Burford\"), the leading global finance and asset management firm focused on law, today announces the expansion and further extension of its funding arrangement (\"BOF-C\") with its sovereign wealth fund strategic partner (the \"SWF\").\n \nAt June 30, 2023, BOF-C had committed $872 million to capital provision-direct assets, of which $435 million was undrawn. Burford and the SWF have agreed that BOF-C is able to support commitments incremental to those currently contracted. As a result, Burford and the SWF have extended BOF-C's investment period by an additional year until December 31, 2024 to permit that to occur.\n \nIn addition, Burford and the SWF have agreed to amend their agreement to allow recycling of certain profit, in addition to recycling of certain deployed capital. This amendment should have the effect of increasing the total amount of capital that BOF-C is able to deploy.\n \nNew commitments to capital provision-direct assets will continue to be made as to an attribution ratio of 75% to Burford's balance sheet and 25% to BOF-C.\n \n \nFor further information, please contact:\n \n\n\n\n\nBurford Capital Limited\n\n\n\n\n\n\n\nFor investor and analyst inquiries:\n\n\n\n\n\n\n\nRobert Bailhache, Head of Investor Relations, EMEA and Asia - email\n\n\n+44 (0)20 3530 2023\n\n\n\n\nJim Ballan, Head of Investor Relations, Americas - email\n\n\n+1 (646) 793 9176\n\n\n\n\nFor press inquiries:\n\n\n\n\n\n\n\nDavid Helfenbein, Vice President, Public Relations - email\n\n\n+1 (212) 235 6824\n\n\n\n\n \n\n\n\n\n\n\n\nNumis Securities Limited - NOMAD and Joint Broker\n\n\n+44 (0)20 7260 1000\n\n\n\n\nGiles Rolls\n\n\n\n\n\n\n\nCharlie Farquhar\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nJefferies International Limited - Joint Broker\n\n\n+44 (0)20 7029 8000\n\n\n\n\nGraham Davidson\n\n\n\n\n\n\n\nJames Umbers\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBerenberg - Joint Broker\n\n\n+44 (0)20 3207 7800\n\n\n\n\nToby Flaux\n\n\n\n\n\n\n\nJames Thompson\n\n\n\n\n\n\n\nYasmina Benchekroun\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAbout Burford Capital\nBurford Capital is the leading global finance and asset management firm focused on law. Its businesses in...