Litigation Capital Management has provided a market update for the year ended 30 June 2021. Among other things, it reports that it received 572 applications for funding during the year of which 3% were converted into active investments, with an increase in high profile quality investments requiring increased resource allocation. Its total portfolio capital commitment is $181 million.

William Panlilio has joined Litigation Capital Management as an Investment Manager, based in Singapore. William comes to LCM after more than 5 years as a Senior Associate with King & Spalding and 2 years prior to that at the Permanent Court of Arbitration in The Hague.

Litigation Capital Management has released its interim results for the half year ended 31 December 2020. Assets under management have grown to A$322 million and the company is reporting a cumulative ROIC of 135% and an IRR of 78% over the past 9 and a half years. Similar to other funders, it notes that it has been receiving increased applications for insolvency and restructuring disputes as moratoriums against appointments are relaxed in global markets.

Litigation Capital Management Limited (AIM:LIT) has secured a US$50 million credit facility with Northleaf Capital Partners to provide the company with additional investment capital. Northleaf is a global private markets investment firm with experience in the litigation finance sector. The credit facility, which is secured against LCM's assets, is available for general corporate purposes and has an overall term of four years. The coupon comprises a LIBOR based rate of 8% per annum together with a profit participation calculated by reference to the profitability of LCM's direct investments. In all circumstances, the overall cost of the facility is capped at 13% per annum.