Burford Capital - $100m Equity Project Commitments

Rhea-AI Summary

Burford Capital has achieved a historic milestone by surpassing $100 million in cumulative commitments to its Equity Project, aimed at promoting diversity in the legal field. As of February 28, over half of the phase two funds have been committed to supporting commercial litigation and arbitration led by female and racially diverse lawyers. The initiative seeks to enhance ESG and DEI efforts by incentivizing firms to appoint underrepresented lawyers. Co-COOs Aviva Will and David Perla express their excitement about the rapid growth of the project and its significant industry impact.

Positive

• Over $100 million in cumulative commitments to the Equity Project.
• More than half of phase two funds committed, indicating strong demand.
• Support from 26 Champions from leading companies and law firms.

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• None.

With more than half of phase two funds committed, Burford crosses historic milestone in cumulative commitments to promote diversity in law

GUERNSEY / ACCESSWIRE / March 1, 2022 / Burford Capital-the leading global finance and asset management firm focused on law-today announces that it has crossed a significant milestone in its groundbreaking initiative designed to increase diversity in the business of law, with more than $100 million in cumulative Equity Project commitments made to back commercial litigation and arbitration led by female and racially diverse lawyers.

The Equity Project earmarks legal finance capital to promote diversity by giving historically underrepresented lawyers an edge as they pursue leadership positions in significant commercial litigations and arbitrations. The Equity Project also augments companies' ESG and DEI initiatives by providing incentives for the firms that represent them to appoint historically underrepresented lawyers and to award them origination credit.

The Equity Project first launched in October 2018 with $50 million earmarked to back commercial matters led by women. After having committed more than that amount by December 2020, Burford announced an expansion of The Equity Project in October 2021, earmarking a further $100 million, broadening The Equity Project's mission to promote both racial and gender diversity in law, and pledging to contribute a portion of its profits from successfully resolved phase two Equity Project matters to organizations that promote development for female and racially diverse lawyers on its clients' behalf.

As of February 28, with more than half of phase two funds committed, Burford has now made more than $100 million in cumulative commitments to Equity Project matters.

Matters funded to date in this phase of The Equity Project include contract disputes, antitrust, federal statutory, IP/patent and treaty arbitration matters, with female and racially diverse litigators in leadership roles (first or second chair) as well as women-owned firms. Clients include large corporations and large litigation boutiques.

Aviva Will, Co-COO of Burford Capital and leader of The Equity Project initiative, said: "We are delighted by the overwhelming response to phase two of The Equity Project, particularly from corporate clients, and that's reflected in the fact that we have crossed this significant milestone in a short period of time. The Equity Project is core to Burford's culture and a part of our daily work, and we look forward to committing the remaining funding soon."

David Perla, Co-COO of Burford Capital, said: "I'm very pleased to see the rapid commitment of our capital in phase two of The Equity Project. As the industry leader, we recognize that we may be the only commercial legal finance company with the resources to make such a significant financial commitment to increasing diversity in law. We are aware of our unique position and take seriously the significant impact Burford can have on the legal market in all the work we do."

The Equity Project is supported by 26 Champions from leading companies, law firms and organizations. A list of Champions and more information about The Equity Project can be found on Burford's website.

Contact:
David Helfenbein
Vice President, Public Relations
dhelfenbein@burfordcapital.com, +1 212 235 6824

About Burford Capital
Burford Capital is the leading global finance and asset management firm focused on law. Its businesses include litigation finance and risk management, asset recovery and a wide range of legal finance and advisory activities. Burford is publicly traded on the New York Stock Exchange (NYSE:BUR) and the London Stock Exchange (LSE:BUR), and it works with companies and law firms around the world from its principal offices in New York, London, Chicago, Washington, DC, Singapore and Sydney.

For more information, please visit www.burfordcapital.com.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any ordinary shares or other securities of Burford.

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SOURCE: Burford Capital Limited

View source version on accesswire.com:
https://www.accesswire.com/690936/Burford-Capital--100m-Equity-Project-Commitments

FAQ

What is the Equity Project by Burford Capital?

The Equity Project is an initiative by Burford Capital aimed at promoting diversity in law by providing financial support to commercial litigation and arbitration led by women and racially diverse lawyers.

How much has Burford Capital committed to the Equity Project?

Burford Capital has committed over $100 million cumulatively to the Equity Project.

What types of cases are funded by the Equity Project?

The Equity Project funds various matters, including contract disputes, antitrust issues, and IP/patent arbitration, all led by diverse lawyers.

When was the Equity Project launched?

The Equity Project was launched in October 2018 with an initial commitment of $50 million.

What did Burford's Co-COO say about the Equity Project in the latest press release?

Aviva Will expressed delight at the response to phase two of the Equity Project, highlighting its core importance to Burford's culture.