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Overview of Burford Capital Ltd
Burford Capital Ltd (symbol: BUR) is a global finance and asset management firm with a specialized focus on legal finance, litigation finance, and risk management. The company transforms legal claims into valuable assets by providing innovative financing solutions to litigants and law firms. Its services enable clients to secure capital for commercial disputes, ensuring that meritorious cases can be pursued based solely on their merits.
Business Model and Core Services
Burford Capital operates through two primary segments that reflect its diverse expertise:
- Principal Finance: This segment involves deploying capital from the company’s balance sheet to fund legal finance assets. It supports legal claims through structured financial products and capital provision assets. This approach allows the firm to directly engage in litigation finance while managing risk and optimizing capital allocation.
- Asset Management and Other Services: This segment encompasses advisory services, law firm lending, litigation insurance, corporate intelligence, judgment enforcement, and other related legal finance activities. Through these offerings, Burford Capital provides a wide array of solutions that help mitigate financial risk and unlock cash flow opportunities for its clients.
Industry Position and Market Presence
Burford Capital is recognized for its innovative approach in the legal finance space. By treating legal claims as assets, the company has positioned itself as a pioneer in a field often described as a "game-changer" by industry commentators. Its client base spans across the globe, including major corporations, high-profile law firms, and financial institutions. With operations in strategic markets such as the United States, United Kingdom, Singapore, Hong Kong, China, and Australia, Burford Capital effectively leverages its international presence to serve a diverse range of clients.
Diversification and Risk Management
The firm’s diversified portfolio includes litigation finance, insurance and risk transfer, law firm lending, asset recovery, and a broad suite of legal finance and advisory activities. This diversified business model helps manage risk through multiple revenue streams and strategic asset allocation. By integrating robust risk management frameworks, Burford Capital ensures that financial resources are deployed efficiently and that clients receive comprehensive support across various legal and financial challenges.
Operational Excellence and Expertise
Burford Capital’s operations are underpinned by deep industry expertise and a commitment to transparency. The company employs a precise and measured approach to financing legal claims, supporting its reputation as a reliable partner in complex commercial disputes. Its financial and advisory services are designed to provide clear value-addition by shifting legal expenses away from operational budgets, thus enabling more effective capital management.
Competitive Landscape
Operating in a niche yet rapidly evolving market, Burford Capital faces competition from both traditional financial institutions and emerging legal finance specialists. The company differentiates itself through its extensive experience, a diversified service offering, and a strategic focus on treating legal claims as investable assets. These factors enable Burford Capital to maintain a competitive edge in the global legal finance arena.
Clientele and Global Reach
Burford Capital’s clientele ranges from startups and growing companies to large public corporations and premier law firms, including collaborations with notable industry groups such as the majority of top-tier law firms in the United Kingdom and many in the United States. Its global offices in New York, London, Chicago, Washington, DC, Singapore, Dubai, Sydney, and Hong Kong allow the firm to serve a geographically diverse and sophisticated market effectively.
Conclusion
In summary, Burford Capital Ltd exemplifies a sophisticated integration of financial acumen with legal expertise. Its innovative business model not only provides capital solutions for litigation and legal disputes but also reinforces a robust risk management framework that adapts to the evolving needs of its global clientele. The company’s approach to converting legal claims into liquid financial assets continues to set industry benchmarks, making it a pivotal player in the legal finance sector.
Burford Capital (BUR) will release its financial results for Q3 2024 on Thursday, November 7, 2024, at 7:00am EST. The company will host a conference call for investors and analysts at 10:00am EST the same day. A live webcast will be available, and participants are encouraged to pre-register. An accompanying Q3 results presentation will be accessible on Burford's website before the call. The company has provided dial-in numbers for USA, Canada, and UK participants, with access code 1730316.
Burford Capital (BUR) has announced key information regarding its 2025 Annual General Meeting (AGM). Effective January 1, 2025, Burford will transition from a foreign private issuer to a US domestic issuer. The 2025 AGM is expected to be held in May 2025, with the company utilizing the SEC's notice-and-access method for meeting materials and proxy solicitation.
Important deadlines for shareholders include:
- December 13, 2024: Deadline for submitting shareholder proposals under Rule 14a-8
- January 15, 2025 to February 14, 2025: Period for submitting director nominations and other shareholder proposals
Shareholders must comply with Burford's articles of incorporation and SEC requirements for proposal submissions and director nominations. The company has provided alternative deadlines if the AGM date changes significantly.
Burford Capital, the leading global finance and asset management firm focused on law, marks its 15-year anniversary with impressive business growth and new legal finance research. Since its founding in 2009, Burford has grown from a $130 million fund to managing a portfolio of over $7 billion. The company's annual commitments to legal finance assets have increased from $11 million in 2009 to $1.2 billion in 2023.
New research reveals a significant increase in legal finance awareness and usage among lawyers. 82% of surveyed law firm lawyers claim to have used legal finance, a ninefold increase since 2012. The research also indicates that legal finance is now viewed as a strategic tool for managing risk across commercial litigation and arbitration. Corporate clients are increasingly embracing legal finance, with 82% of surveyed lawyers noting an increase in its use by corporations over the past 15 years.
Burford's CEO, Christopher Bogart, emphasizes the company's focus on client needs, innovation, and advancing the business of law as key factors in their success and future growth.
Burford Capital, a leading global finance and asset management firm focused on law, has released its latest Burford Quarterly to mark its 15th anniversary. This edition explores the evolution of legal finance and its business benefits over the past 15 years.
The Burford Quarterly 4 2024 includes articles on:
- Charting the next chapter of Burford's journey
- Legal finance as a strategic solution for modern business challenges
- Current trends and future directions in IP monetization
- Championing diversity in law through The Equity Project
- Arbitration trends in Latin America
- Implications of a proposed collective redress bill in Spain
Aviva Will, President of Burford Capital, emphasizes the company's commitment to publishing insightful thought leadership and research about commercial legal finance, continuing a 15-year tradition of educating business and legal leaders about the industry.
Burford Capital , a leading global finance and asset management firm focused on law, has issued 8,629 new ordinary shares on September 23, 2024. This issuance is in connection with the Burford Capital 2016 Long Term Incentive Plan (LTIP) to satisfy the vesting of restricted stock units from awards realized on September 20, 2024.
The company will apply for these new shares to be admitted to trading on the AIM market of the London Stock Exchange, with an expected admission date of October 1, 2024. These shares will also be listed on the New York Stock Exchange.
Following this issuance, Burford Capital's total issued ordinary share capital is 220,091,323, with 669,947 shares held in treasury. The total number of voting rights in the company, excluding treasury shares, will be 219,421,376.
Burford Capital, a leading global finance and asset management firm focused on law, has announced the return of Travis Lenkner as Chief Development Officer. In this newly created role, Lenkner joins the Management Committee and will be based in London. His responsibilities include:
1. Identifying and executing strategic initiatives for growth
2. Focusing on law firm equity investments
3. Exploring alternative delivery of legal services
4. Advancing legal tech, including AI
Lenkner, a seasoned executive in legal finance, previously co-founded Gerchen Keller Capital (acquired by Burford in 2016) and Keller Lenkner His appointment aligns with Burford's commitment to modernizing the legal field and driving business growth.
Burford Capital, the leading global finance and asset management firm focused on law, celebrates its 15th anniversary. In just 15 years, Burford has grown from a $130 million investment fund to a $7.4 billion industry leader, with a 27x increase in market capitalization. The company has announced several key appointments and additions to its team:
1. Aviva Will appointed as President, focusing on high-value, client-facing activities.
2. David Perla appointed as Vice Chair, focusing on Marketing, Public Policy, Industry Affairs, and Public Relations.
3. Several senior professionals added from top global corporations and law firms, including Andrew Farthing, Carrie Tendler, Josh Reed, Kate Tellez, Florencia Villaggi, Josh Wood, and Nicholas Sinigaglia.
These appointments reflect Burford's commitment to growing talent from within and attracting experienced senior professionals as it continues to expand its global relationships and evolve towards complex financings with sophisticated corporate counterparties.
Burford Capital (BUR), a leading global finance and asset management firm focused on law, has announced the results of its extraordinary general meeting (EGM) held on August 20, 2024. All proposed resolutions were approved by shareholders, including:
1. Appointment of KPMG LLP as external auditor (143,284,414 votes for)
2. Authorization for directors to agree on auditor remuneration (143,285,180 votes for)
3. Adoption of new articles of incorporation (141,847,412 votes for)
The special resolution to adopt new articles of incorporation received 231,013 votes against and 1,222,991 votes withheld. This EGM outcome demonstrates strong shareholder support for Burford Capital's proposed changes and governance structure.
Burford Capital reported its unaudited financial results for Q2 and H1 2024.
Key Highlights:
- Total revenues rose by 217% YoY to $137 million in Q2 2024.
- Capital provision income increased by 237% YoY to $119 million in Q2.
- Net realized gains in H1 grew by 36% to $128 million.
- Total operating expenses in Q2 decreased by 14% to $37 million.
- Net income for Q2 was $53.7 million, a significant improvement from a loss of $21.5 million in Q2 2023.
- Book value per share remained stable at $10.50.
- Decline in YTD revenue by 52% due to prior year's gains from a case win.
The company highlighted improved liquidity, with cash and cash equivalents increasing by 78% to $350 million. An interim dividend of 6.25¢ per share was declared, payable on December 5, 2024.
Burford Capital , a leading global finance and asset management firm focused on law, has announced its transition to US domestic issuer status effective January 1, 2025. This change comes as US ownership of Burford's issued and outstanding ordinary shares exceeds 50% as of June 30, 2024. As a result, Burford will no longer qualify as a 'foreign private issuer' under the US Securities Act of 1934.
The transition requires Burford to file annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K with the SEC. Additionally, the company will need to comply with US proxy requirements and Regulation FD. This move is the culmination of over five years of planning, aimed at maximizing Burford's investability in the US public market. The company's ordinary shares will continue to be fully dual-listed on both the New York Stock Exchange and the London Stock Exchange.
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