Therium Capital Management, the litigation funder behind Noel Edmonds taking on Lloyds Banking Group, yesterday announced the completion of £300m in new funding, thought to be led by US insurer Amtrust Financial.
The firm completed its first close at £200m, with another £100m expected from both its existing investor and new “global institutional investors”, it said yesterday. The fund will be deployed over the next two years.
Therium declined to reveal the identities of its investors, but it is thought Amtrust, a New York based insurer with almost $24bn (£17bn) in assets, is the main backer.
As well as the recently announced case brought by celebrity television presenter Edmonds, Therium is currently funding a £550m case against Lloyds brought by shareholders related to its acquisition of HBOS during the financial crisis, which will finish next month.