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Burford Capital Limited ("Burford"), the leading global finance and asset management firm focused on law, today announces the expansion and further extension of its funding arrangement ("BOF-C") with its sovereign wealth fund strategic partner (the "SWF").
At June 30, 2023, BOF-C had committed $872 million to capital provision-direct assets, of which $435 million was undrawn. Burford and the SWF have agreed that BOF-C is able to support commitments incremental to those currently contracted. As a result, Burford and the SWF have extended BOF-C's investment period by an additional year until December 31, 2024 to permit that to occur.
In addition, Burford and the SWF have agreed to amend their agreement to allow recycling of certain profit, in addition to recycling of certain deployed capital. This amendment should have the effect of increasing the total amount of capital that BOF-C is able to deploy.
Posted In: BUR
