Omni Bridgeway Ltd · ASX:OBL
Omni Bridgeway — Investor Presentation (May 2020)
31 slides from Omni Bridgeway's investor presentation, May 2020
Slide 1: Investor Presentation May 2020
Investor Presentation May 2020 IMF Bentham, Bentham IMF, ROLAND ProzessFinanz adopted the global name Omni Bridgeway in 2020. DISCLAIMER: Any deal structures, pricing, models, and terms provided herein are for illustration only, subject to change, and intended to give a general understanding of the
Slide 2: Presenters
Presenters 01 Andrew Saker 04 Tom Glasgow Managing Director and CEO Chief Investment Officer – Asia T: +61 8 9225 2300 T: +65 6622 5396 E: asaker@omnibridgeway.com E: tglasgow@omnibridgeway.com 02 Raymond van Hulst 05 Allison Chock Executive Director Chief Investment Officer – US T: +41 22 818 6301
Slide 3: Andrew Saker
Andrew Saker
Slide 4: ASX: OBL Share Price
ASX: OBL Share Price Omni Bridgeway ASX 200 • Relative to ASX200, OBL share price has retained value during the pandemic period • Thesis of uncorrelated returns has resonated with investors • Given activity levels in funding applications, strong counter-cyclical factors that should drive growth over
Slide 5: Our position in the global dispute finance market
Our position in the global dispute finance market London New York Omni Bridgeway Burford Capital Therium Capital Management Singapore Harbour Litigation Funding Longford Capital Parabellum Capital Augusta Sydney Woodsford Litigation Funding Melbourne Litigation Capital Management Litigation Capital
Slide 6: Position of Strength
Position of Strength Balance Funds Four Pillars sheet Fund 1 2&3 Fund 4 Fund 5 Fund 6 Total (A$m) (A$m) (A$m) (A$m) (A$m) (A$m) (A$m) • We have established a strong financial position with cash and receivables of around $170m at the Recognised income/revenue balance sheet level and an additional $84
Slide 7: Diversified Portfolio
Diversified Portfolio • Diversified portfolio of close to 300 individual investments, not counting underlying portfolio investments, spread over balance sheet and fund structures • Balance sheet investments continue to run-off and following anticipated completions in PFAS and Wivenhoe will be substa
Slide 8: Mix of business
Mix of business EPV by Investment Type* EPV by Geography* • Portfolio diversification has been prioritized over the past several years by investment type and geography to 2% Arbitration mitigate risks of competition and Commercial 11% 11% 14% adverse regulatory intervention Corporate Funding Asia •
Slide 9: Global pipeline: New Funding Applications
Global pipeline New Funding Applications Application 160 • We have seen a significant spike in funding applications since the onset of 140 COVID-19 Due diligence 120 • Applications have come from a variety of sources including corporates NDA 100 looking to manage cashflow and risk Count and monetize
Slide 10: Integration
Integration • Priorities on integration were: Some key co-funded and cross-referred assignments include: • Human resources • Arbitration and Working Capital Funding against African • IT State – Fund 2 & 3 (Australia originated and co-funded • Marketing with Fund 6) A$4.4m commitment • Finance • Conf
Slide 11: Parliamentary Inquiry and Contingency Fees
Parliamentary Inquiry and Contingency Fees Parliamentary Inquiry Contingency Fees • Submission 11 June 2020, but given recent announcements • Contingency fees create conflicts of interest for law firms that also from Treasurer, it is not clear what work the Committee has to provide funding for disbu
Slide 12: Raymond van Hulst
Raymond van Hulst
Slide 13: EMEA Dispute Finance market
EMEA Dispute Finance market • Market Overview • Regulatory Landscape • Competitive Landscape • Team Funded Assessed Omni Bridgeway offices INVESTOR PRESENTATION EUROZ | MAY 2020 13
Slide 14: EMEA Competitive Landscape
EMEA Competitive Landscape Principal Competitors Per geographical region Rest of Middle Offices Team Enforcement UK Germany Continental Headquarters Founded Public/Private East (Global/EMEA) (Global/EMEA) Europe Omni Bridgeway ⦿ ⦿ ⦿ ⦿ ⦿ 18/5 Sydney NSW 157/46 2001/1986 ASX:OBL Burford Capital ⦿ ⦿ ⦿
Slide 15: Specifics of Enforcement
Specifics of Enforcement • What is enforcement Merits Funding • Differences in Business Model • Differences in Risk • Differences in Sourcing Appeal Funding • Differences in Team Final / enforceable judgment • Synergies Enforcement Funding INVESTOR PRESENTATION EUROZ | MAY 2020 15
Slide 16: Tania Sulan
Tania Sulan
Slide 17: Australia & New Zealand Dispute Finance market
Australia & New Zealand Dispute Finance market • Market Overview • Team Funded & assessed Omni Bridgeway offices INVESTOR PRESENTATION EUROZ | MAY 2020 17
Slide 18: Update on Key Australian Cases
Update on Key Australian Cases Wivenhoe PFAS • The Supreme Court of NSW handed down a decision in • 3 separate contamination class actions against the November 2019 which found the 3 defendants , Sunwater, Commonwealth – Williamtown, Katherine and Oakey – settled in Seqwater and the State of Queensl
Slide 19: Australia & New Zealand Competitive Landscape
Australia & New Zealand Competitive Landscape Principal Competitors Offices Team Public / Fund size US$ Headquarters Founded (Global/Aust&NZ) (Global/Aust&NZ) Private Omni Bridgeway $1500m 18/5 Sydney NSW 157+/71 2001/1986 ASX:OBL Augusta Ventures $298m 4/2 London UK 85+/13 2013 Private Burford Capi
Slide 20: Australia & New Zealand pipeline and opportunities
Australia & New Zealand pipeline and opportunities Australia & New Zealand Total Estimated Addressable Market EPV by type (%) for Australia & New Zealand (AUD$) 2% 17% Arbitration $20.8bn 5% Commercial $4.16bn $2.08bn 48% Corporate Funding 6% Insolvency 70% Multi Party Total Estimated Annual Market
Slide 21: Tom Glasgow
Tom Glasgow
Slide 22: Asia Dispute Finance market
Asia Dispute Finance market • Market Overview • Regulatory Landscape Funded Assessed Omni Bridgeway offices INVESTOR PRESENTATION EUROZ | MAY 2020 22
Slide 23: Asia Competitive Landscape
Asia Competitive Landscape Principal Competitors Offices Team Fund size US$ Headquarters Founded Public/Private (Global/Asia) (Global/Asia) Omni Bridgeway $1500m 18/2 Sydney NSW 157+/8 2001/1986 ASX:OBL Augusta Ventures $298m 4/FIFO London UK 85+/FIFO 2013 Private 6/1 Burford Capital $2900m New York
Slide 24: Asia pipeline and opportunities
Asia pipeline and opportunities Asia investments by type (number and %) Asia investments by status (number and %) Funded / approved for funding 11 Other 4% • Opportunities & Insolvency, 9 Pipeline 42 3% 43 growth areas 16% 16% • C-19 and other factors impacting Commercial, market 57 22% • Collaborat
Slide 25: Allison Chock
Allison Chock
Slide 26: United States Dispute Finance market
United States Dispute Finance market • Market Overview • Regulatory Landscape • Competitive Landscape • Applications • Team Omni Bridgeway offices INVESTOR PRESENTATION EUROZ | MAY 2020 26
Slide 27: US Competitive Landscape
US Competitive Landscape Principal Competitors Team Fund size US$ Offices (Global/US) Headquarters Founded Public/Private (Global/US) Omni Bridgeway $1500m 18/4 Sydney NSW 157/23 2001/1986 ASX:OBL Burford Capital $2900m 6/3 New York NY 125+/85 2009 LON:BUR Longford Capital $557m 2/2 Chicago IL 12+/1
Slide 28: United States pipeline and opportunities
United States pipeline and opportunities Total Estimated Addressable Market for the United States (A$) • TAM • Opportunities & growth areas • C-19 and other factors impacting market $471.5bn $84.87bn • Collaboration & future opportunities $169.7bn Total Estimated Annual Market Legal Spend Estimated
Slide 29: United States pipeline and opportunities
United States pipeline and opportunities United States EPV by type (%) United States v Global EPV (%) 2% 5% 11% 18% Arbitration Asia Commercial 23% Australia 49% Law Firm Canada 54% Patent EMEA (UK only) 21% United States Whistleblower 6% 11% * Includes IC approved and conditionally funded investmen
Slide 30: Disclaimer & Authorisation
Disclaimer & Authorisation • The material in this presentation has been prepared by Omni Bridgeway (OBL) and is general background information about OBL's activities. The information is given in summary form and does not purport to be complete. • A number of terms used in this presentation including
Slide 31: Investor Presentation EUROZ | May 2020
INVESTOR PRESENTATION EUROZ | MAY 2020 31