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Burford Capital Limited (symbol: BUR) is a preeminent global finance and professional services firm with a singular focus on law. Listed on both the London Stock Exchange (LSE) and the New York Stock Exchange (NYSE), Burford has established itself as a trailblazer in the field of litigation finance, asset management, and legal advisory services. The company's core business revolves around providing capital to the legal industry, thereby facilitating the resolution of meritorious commercial disputes.
Burford's operations are segmented into two primary areas: Capital Provision and Asset Management and Other Services. The Capital Provision segment encompasses the direct funding of legal cases and investments in managed funds, while the Asset Management segment offers an array of services including litigation insurance, law firm lending, corporate intelligence, and judgment enforcement.
Over the years, Burford has secured over $500 million in capital commitments, aiding a diverse clientele that ranges from start-ups to major public corporations. Notably, Burford collaborates with more than half of the AmLaw 50 firms and many of the leading law firms in the UK. This extensive client reach underscores Burford's significant impact in legal finance and risk management.
Recent achievements for Burford include a landmark $16 billion judgment in a case against Argentina, emphasizing its prowess in high-stakes litigation finance. Additionally, Burford's inclusion in the Russell 3000® and 2000® Indexes marks its growing influence and recognition in the financial sector. The firm’s ongoing projects also involve innovative approaches to corporate finance solutions, as evidenced by a recent $325 million commitment with a Fortune 50 company.
Burford's comprehensive suite of services extends to risk transfer, asset recovery, and advisory activities, positioning it as a one-stop solution for legal finance needs. The company's strong financial health is reflected in its robust quarterly earnings and continuous expansion across key global markets including the United States, United Kingdom, Singapore, Hong Kong, China, and Australia.
With offices in major financial hubs such as New York, London, Chicago, Washington, DC, Singapore, Dubai, Sydney, and Hong Kong, Burford maintains a global footprint that enables it to serve clients effectively across different jurisdictions. As a publicly traded entity, Burford remains committed to transparency and stringent regulatory compliance, ensuring sustained growth and shareholder value.
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.
Burford Capital has released research indicating a significant opportunity for companies to enhance their legal departments through affirmative recovery programs. Despite most companies having such programs, only a few are deemed robust, with three of five general counsels admitting to neglecting valuable recoveries. The report emphasizes the benefits of systematic programs and the role of legal finance in improving recovery outcomes. Interviews with senior legal leaders reveal a growing awareness and appetite for integrating legal finance as a strategy for maximizing corporate value.
Burford Capital Limited hosted an investor event on November 2, 2021, discussing key themes including a projected $3.4 billion in cash proceeds and $2.0 billion in realized gains from its core portfolio. The firm emphasized its sustained growth strategy and innovation in litigation finance, showcasing a five-year rolling return on tangible equity exceeding 20%. The event aimed to highlight Burford's positive asymmetry in investment returns, with a significant upside potential compared to downside risks.
Burford Capital Limited announced an Investor Event on November 2, 2021, from 10:00 AM to 12:30 PM EDT. This event will be hosted by CEO Christopher Bogart and CIO Jonathan Molot at the New York Stock Exchange, with a reception following the presentation. Institutional investors can attend in person or via a real-time video webcast. Registration is required for both attendance options. Burford Capital focuses on law-related finance and asset management, and its stock is listed on both the NYSE and LSE under the ticker BUR.
Burford Capital Limited has announced an upcoming investor event scheduled for November 2, 2021, from 10:00 AM to 12:30 PM EDT. CEO Christopher Bogart and CIO Jonathan Molot will host the event, which is aimed at institutional investors and analysts. It will take place in-person at the New York Stock Exchange with a simultaneous online video webcast available to registered participants. Further details on registration will be provided later. Burford is publicly traded on the NYSE under the symbol BUR.
Burford Capital Limited announced its financial results for the first half of 2021, reporting substantial growth in new business. Direct new commitments soared by 334% to $503 million, while deployments jumped 229% to $398 million. The portfolio grew to $4.8 billion, and the return on invested capital improved to 95%. However, the company posted a net accounting loss after tax of $67 million, largely due to non-cash accruals, although adjusted profit after tax was $17 million. An interim dividend of 6.25¢ per share was declared, payable on December 2, 2021.
Burford Capital announced the details for its earnings call on September 9, 2021, at 10:00 AM EDT for the six-month period ending June 30, 2021. Investors and analysts are encouraged to pre-register for the call, with dial-in options available. A results presentation will be accessible on the company’s website. A replay of the call will be available until September 23, 2021. Burford Capital, known for its focus on finance and asset management in law, operates globally, providing litigation finance, risk management, and asset recovery services.
Burford Capital Limited reported significant advancements for the six months ending June 30, 2021. New commitments exceeded $500 million, with nearly $400 million deployed. Portfolio returns rose to 95% ROIC, while realized losses decreased to 0.5%. However, the company anticipates a net loss of approximately $70 million due to one-time non-cash accruals. The liquidity position remains strong, exceeding $430 million. Burford is considering converting to US GAAP by year-end, which may lead to balance sheet adjustments. The interim results will be announced on September 9, 2021.
Burford Capital has released research highlighting CFOs' growing influence on corporate legal departments and the management of legal costs. Key findings reveal that 73% of financial officers have extensive recovery programs, with 75% of companies over $1 billion in revenue holding unenforced judgments valued between $20-$100 million. Notably, only 24% apply quantitative modeling to litigation decisions, indicating significant untapped potential for financial innovation in legal contexts. The report outlines a shift in recognizing pending litigations as valuable assets and the importance of integrating commercial strategies into legal departments.
Burford Capital announced it will release interim results for the six months ending June 30, 2021, on September 9, 2021, at 7am EDT. A conference call for investors will follow at 10am EDT. Burford, a leading global finance and asset management firm focused on law, is involved in litigation finance, risk management, and asset recovery. The company, publicly traded on NYSE and LSE under the ticker BUR, operates in major cities including New York and London. Key forward-looking statements highlight potential risks and uncertainties that may affect future performance.
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