Business
Strategic Relationship with Manolete
Strategic Relationship with Manolete.
About this update from Burford Capital Limited
[{"type":"text","content":"\n \nRNS Number : 3091K Burford Capital 29 July 2013 \n \n\n29 July 2013\n \nBURFORD ANNOUNCES STRATEGIC RELATIONSHIP WITH MANOLETE\n \nBurford Capital Limited (\"Burford\"), the world's largest provider of investment capital and risk solutions for litigation, announces a strategic relationship with Manolete Partners PLC (\"Manolete\"), the UK's leading insolvency litigation financier backed by Jon Moulton.\n \nBurford will make a small investment in Manolete to become a 16% shareholder, matching Moulton's ownership interest. Under the arrangement, Burford will provide co-funding of up to £10 million for Manolete's insolvency litigation investments. Manolete is also backed by Punter Southall's P-Solve business, one of the UK's leading investment advisors.\n \nPlease see below for the joint press release issued today, which can also be accessed via the Burford Capital website www.burfordcapital.com\n \n \n \nMANOLETE PARTNERS AND BURFORD CAPITAL FORM STRATEGIC RELATIONSHIP\nJon Moulton and Punter Southall-backed insolvency financier seeing strong growth \nBurford becomes shareholder in and capital provider to Manolete\nManolete Partners PLC (\"Manolete\"), the UK's leading insolvency litigation financier, and Burford Capital Limited (\"Burford\"), the world's largest provider of investment capital and risk solutions for litigation, today announced a strategic relationship that will enable Manolete to continue its strong growth as a leader in the UK insolvency litigation market and increase Burford's exposure to this specialty business.\n \nUnder the arrangement, Burford will become a 16% shareholder in Manolete and will provide co-funding for Manolete's insolvency litigation investments. Both Manolete and Burford are seeing strong growth in the insolvency market and Burford has initially earmarked up to £10 million for its co-funding of Manolete's investments.\n \nManolete was founded in 2009 and has enjoyed growth of more than 100% each year since its formation. Manolete is backed by Jon Moulton, one of the UK's leading private equity investors, and Punter Southall's P-Solve business, one of the UK's leading investment advisors.\n \nSteven Cooklin, Manolete's founder and Managing Director, said: \"When I founded Manolete in 2009, after a successful corpora...