Nera Capital enters secondary market with new $50 million fund

Dublin based litigation funder Nera Capital has opened a new chapter in its growth plan with the launch of a $50 million fund aimed at buying and selling interests in mature legal claims. The vehicle formalises the firm's move into the secondary market for litigation finance, an area that is attracting more investors as portfolios season and funders look for earlier liquidity.

The fund will allow Nera to trade funded positions both within its own portfolios and with other market participants. The firm has already completed several transactions across the United States and Europe, targeting assets with shorter resolution paths and established litigation trajectories. This approach strengthens Nera's relationships with fellow funders, law firms, and institutional investors that want exposure to legal assets without running full origination and underwriting teams.

Aisling Byrne, a director at Nera Capital, said the new strategy builds on more than 15 years of underwriting experience and over $160 million returned to investors. She described the firm's secondary market work as a natural extension of its assessment model, noting that Nera is now positioned to acquire funded positions from claimants and other funders or allow new investors to take stakes in seasoned assets within Nera's own book. Byrne highlighted the appeal of greater flexibility and the ability to create value for both investors and counterparties as the sector matures.

Nera views cooperation among established funders as an important feature of the emerging secondary market. Byrne pointed to the efficiency gains that come from trading positions between teams that share similar investment discipline and data driven methods, adding that this type of activity supports greater transparency across litigation finance.

The new fund has backing from experienced investors who support Nera's long term plan to develop secondary transactions as a core part of its business. The firm expects to deploy capital into existing opportunities and additional deals in the United Kingdom and other European jurisdictions over the coming year.