Litigation Funders Continue Growth and Expansion – Burford Buys Out Gerchen Keller
Burford Capital is acquiring Gerchen Keller, as described in a December 14, 2016 article in the Wall Street Journal. According to the article, the combined entities will have over $1 billion in assets and about 80 employees. For a free article, see the December 15 article at the Global Legal Post. The transaction of course drew the attention of the “tort reform” arm of US Chamber of Commerce.
The progression of the industry has been logical and steady, and is not a surprise. Back in 2009, I pointed out the industry as an industry, and pointed out Burford filing to go public in the UK and then pointed out its IPO. At the same time, Alison Frankel declared litigation funding an asset class. Burford soon doubled in size, and other funds arose, including Gerchen Keller.