Finance

Funding administration agency Pretium jumps into authorized finance

  • New “authorized alternatives group” led by Massive Regulation alums to have broad focus
  • Group will work with companies, legislation corporations

(Reuters) – Pretium Companions LLC, an funding administration agency that focuses on residential, company and structured credit score, has launched a brand new authorized funding group.

New York-based Pretium has about $26 billion in property beneath administration, in keeping with the agency. Its new “authorized alternatives group,” introduced Monday, makes Pretium one of many latest entrants into the authorized finance market. In November, former Fortress Funding Group accomplice Brandon Baer launched litigation funder Contingency Capital.

The group will work with firms, legislation corporations and others to put money into “authorized and industrial alternatives,” the agency mentioned, together with advanced industrial disputes, patent and mental property, arbitrations and chapter, amongst different funding focus areas. Pretium particularly famous that the agency will not put money into shopper litigation finance.

Matthew Cantor will lead the brand new technique. Cantor, beforehand basic counsel for Lehman Brothers Holdings Inc, joined Pretium final yr as a senior managing director targeted on chapter and distressed property. Amongst different roles, he was a accomplice earlier in his profession at Kirkland & Ellis and Weil, Gotshal & Manges, in keeping with Pretium’s announcement of his rent in June 2020.

Charles (Chad) Schmerler will function head of litigation finance. He was beforehand CEO of litigation finance agency Yorkside Capital LLC, which he based after working towards at Norton Rose Fulbright. Schmerler and the remainder of the Yorkside Capital group joined Pretium in June, in keeping with the Pretium consultant.

The agency consultant mentioned the brand new group will initially include six devoted professionals. The group has expertise in litigation finance, authorized danger monetization, mental property and forensic accounting and damages evaluation, Pretium mentioned in its announcement.

“As lots of at the moment’s quickest rising firms and industries mature, there shall be elevated demand for knowledgeable and well-resourced corporations to help them in managing their authorized dangers notably in areas of mental property, patents and know-how,” Pretium CEO and founder Don Mullen mentioned in an announcement.

“With the experience of our authorized methods group, we’re excited to supply traders a diversifying funding with enticing returns which might be minimally correlated to the broader financial cycle,” Mullen mentioned.

Learn extra:

New litigation funder debuts with ‘credit-oriented’ method

Litigation finance corporations be a part of forces to counter skeptics in lobbying, PR push

Mishcon de Reya groups up with litigation funder Harbour for brand spanking new enterprise

Sara Merken

Sara Merken studies on privateness and information safety, in addition to the enterprise of legislation, together with authorized innovation and key gamers within the authorized companies business. Attain her at sara.merken@thomsonreuters.com

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