Business
Final closure of US$150 million fund
Final closure of US$150 million fund.
About this update from Litigation Capital Management Ltd
[{"type":"text","content":"\n \n \n RNS Number : 3418H\n Litigation Capital Management Ltd\n 24 March 2020\n \n \n \n \n 24 March 2020\n \n \n \n \n \n \n \n \n Litigation Capital Management Limited\n \n \n (LCM or the Company)\n \n \n \n \n \n \n \n \n LCM completes final closure of US$150 million fund\n \n \n \n \n \n \n \n \n Litigation Capital Management Limited (AIM:LIT), a leading international provider of disputes financing solutions, is pleased to announce the final closure of the LCM Global Alternative Returns Fund (\n the Fund)\n . On 10 March 2020, LCM announced to the market a first closure of its third-party Fund at US$140 million.\n \n \n \n \n \n The final US$10 million has now been subscribed by the asset management division of the large global investment bank which comprised one of the original cornerstone investors in the first closure. The subscription of that final US$10 million commitment brings the Fund to a close at US$150 million.\n \n \n \n \n \n As previously announced, t\n he Fund will be seeded with nine single case investments which include international arbitrations, class actions, commercial litigation and investor state treaty claims. \n \n \n \n \n \n \n Patrick Moloney, CEO of LCM, commented: \n \n \n \"The fact LCM has been able to close its first third party fund so soon after the initial announcement and in a market which is experiencing significant volatility is testament to its disciplined investment approach and the growing number of opportunities available to it.\"\n \n \n \n \n \n \n \"It demonstrates that sophisticated investors are seeking to invest in uncorrelated asset classes and in businesses which enjoy counter-cyclical characteristics.\"\n \n \n \n \n \n Enquiries\n \n \n \n \n \n \n \n \n Litigation Capital Management\n \n \n \n \n c/o Alma PR \n \n \n \n \n \n \n Patrick Moloney, Chief Executive Officer\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Canaccord (Nomad and Joint Broker) \n \n \n \n \n Tel: 020 7523 8000\n \n \n \n \n \n \n Bobbie Hilliam\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Investec Bank plc (Joint Broker)\n \n \n \n \n Tel: 020 759...