£150m litigation funding package revealed by DLA Piper
Updated: Jun 26, 2021
DLA Piper has revealed it has access to a new £150m funding package for large-scale commercial litigation and arbitration after announcing an arrangement with listed funder Litigation Capital Management (LCM).
Aldersgate Funding is owned by DLA Piper. It is headed up by former corporate partner Jim Holding.
Stephen Sly, the firm’s former ex-global co-chair of litigation & regulatory, has retired and will continue to serve as chairman of the investment committee.
“it is intended to be available in all applicable international jurisdictions, Aldersgate Funding has been structured to provide DLA Piper clients ‘best-in-class’ funding terms, fast decision-making and enhanced due diligence that will allow actions to be pursued without any financial downside to claimants.”
Simon Levine, global co-CEO of DLA Piper, said:
“We are working at pace to develop a stream of bold and innovative products and services as part of our enhanced legal offering Law&, that will allow clients to seize opportunities.
“As part of this mission, our collaboration with Aldersgate Funding and LCM gives clients access to capital to fund claims with a speed, ease and at a quantum hitherto unheard of and represents a sea change in the traditional approach to litigation funding.”'
Patrick Moloney, LCM’s chief executive, went on to say:
“As part of a competitive process, this facility was secured through a solutions-based approach by agreeing a tailored structure specifically to meet the needs of the international law firm and its clients.
“We expect this relationship to be a long and prosperous one for LCM, the law firm and its clients.”