Litigation Finance Pioneers Return to Hunt Rare Secondary Deals

Six years after Adam Gerchen and Ashley Keller sold their litigation finance company for roughly $160 million, they’re back with a new plan: Buying up pieces of lawsuits from their old competitors. The pair’s new venture has raised $750 million for the first litigation fund aimed at secondary transactions. Gerchen’s new fund has deployed about $225 million, and one of its deals became public for the first time last week. It purchased a 30% claim from Omni Bridgeway in an Australian class action over “combustible cladding,” building materials prone to catch fire. Gerchen Capital paid $19.5 million, generating a $16 million profit for Omni Bridgeway, according to a regulatory filing.

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Omni Bridgeway APAC team expands and announces senior appointments

Omni Bridgeway has announced the arrivals of Eloise Matsui and Mitch Dearness, who join its growing team in Asia as Investment Managers. Eloise was previously with Stephenson Harwood, where she was a partner in the restructuring and insolvency team in Hong Kong. Mitch was previously with Herbert Smith Freehills, where he was a Senior Associate in the Singapore disputes team. In addition, Kristen Smith (Melbourne) and Ewen McNee (Sydney) have been promoted to Senior Investment Managers, and Niall Watson-Dunne’s role as Investment Manager (Sydney) expands in recognition of his case management responsibilities. Cheng-Yee Khong (Hong Kong) has been appointed Senior Relationship Manager, responsible for new case origination and relationship management across jurisdictions.

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