Business
Significant Growth in Investment Commitments
Significant Growth in Investment Commitments.
About this update from Burford Capital Limited
[{"type":"text","content":"\n \nRNS Number : 4195B Burford Capital 10 January 2018 \n\nThis announcement contains inside information.\n \n10 January 2018\n \nBURFORD CAPITAL REPORTS SIGNIFICANT GROWTH IN INVESTMENT COMMITMENTS\n \n2017 commitments exceed $1.3 billion, more than triple 2016 level\nCompany also advises re financial calendar and investor meetings re possible bond issue\n \nBurford Capital Limited (\"Burford\" or \"the Company\"), a leading global finance and investment management firm focused on law, today reports on the strong growth in its new investment commitments.\n \nIn 2017, Burford made $1.3 billion in new commitments, more than triple its 2016 level. The new commitments reflect a number of dynamics in Burford's business: continued growth in demand for capital in its core litigation finance business; access to capital through direct balance sheet investing and its new investment management business; and continued expansion of Burford's product offerings and investment strategies.\n \nThe new commitments are broken out below in the same categories used in Burford's interim results for the six months ended 30 June 2017 and investors are referred to Burford's 2017 interim report for an explanation of those categories (available at http://www.burfordcapital.com/investors/financial-reports-and-presentations/).\n \n \n\n\n\n\nTotal Investment Commitments made during financial year ended 31 December 2017\n \n\n\nBalance sheet\ncommitments\n \n\n\nFund & other vehicle commitments\n\n\n\n\nSingle case finance\n\n\n$34.4m\n\n\n5%\n\n\n$38.3m\n\n\n6%\n\n\n\n\nPortfolio finance\n\n\n$377.8m\n\n\n54%\n\n\n$347.7m\n\n\n54%\n\n\n\n\nRecourse finance\n\n\n$226.9m\n\n\n33%\n\n\n$248.4m\n\n\n38%\n\n\n\n\nLegal risk management\n\n\n$59.2m\n\n\n8%\n\n\n$10.8m\n\n\n2%\n\n\n\n\nTotal\n\n\n$698.3m\n\n\n100%\n\n\n$645.2m\n\n\n100%\n\n\n\n\nTotal Investment Commitments\n\n\n$1,343.5m\n\n\n\n\n \n \nInvestor Meetings re Possible Bond Issue\n \nGiven the growth Burford has experienced, the Company intends to hold m...